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Gold is Fiat Currency

Discuss issues related to business, finance, taxes, investments, cost of living in different countries, etc.

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MrMan
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Gold is Fiat Currency

Post by MrMan » August 4th, 2015, 3:32 am

It's a lot more valuable than even it's industrial value, isn't it? It's got some artistic value as bling. What makes it valuable is the trust people put in it, just like paper money.

Gold was bling for the Incas, but it wasn't nearly worth as much to them as it was to the Spanish, to whom it served as money.

Moretorque
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Re: Gold is Fiat Currency

Post by Moretorque » August 4th, 2015, 5:05 pm

Gold has intrinsic qualities but by todays standard it's a relic and our rulers know this, gold in a gold standard banking system is used as a governor to keep the bank from creating to many purchasing tickets for the economy with no relation to actual growth like we have today. No matter how you do it compound interest eventually catches up to you so usury has been forbidden in some cultures because it really debases your civilizations morality and the working mans rights as seen today.

I think our rulers are going to pull a dupe when they implode America and pull the old gold gig con out of China coming up, I think they can pull it off because Daa Herd be to dumb to figure.
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Banano
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Re: Gold is Fiat Currency

Post by Banano » August 4th, 2015, 6:09 pm

I dont understand when people say that gold has intrinsic value and paper money does not

The truth is both of them have value because we people believe in them, nothing intrinsic about gold, it makes no difference whether it s paper or metal as long as there is limited supply of something and people believe in its value.

We could easily use certain type of sea shells instead of gold if we could control and limit supply


Btw Gold fell by 40% in the past few years even though Feds printing presses keep printing 'worthless paper' , it makes no sense


How do you explain the fact that USD got stronger in relation to every major currency, seems like the more you print the more its worth

AUD:USD used to be 1:1 and now you can get only 73c for AUD

Moretorque
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Re: Gold is Fiat Currency

Post by Moretorque » August 4th, 2015, 8:45 pm

[quote="Banano"]I dont understand when people say that gold has intrinsic value.
Last edited by Moretorque on August 4th, 2015, 8:54 pm, edited 1 time in total.
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Moretorque
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Re: Gold is Fiat Currency

Post by Moretorque » August 4th, 2015, 8:51 pm

Moretorque wrote:
Banano wrote:I dont understand when people say that gold has intrinsic value and paper money does not

The truth is both of them have value because we people believe in them, nothing intrinsic about gold, it makes no difference whether it s paper or metal as long as there is limited supply of something and people believe in its value.

We could easily use certain type of sea shells instead of gold if we could control and limit supply


Btw Gold fell by 40% in the past few years even though Feds printing presses keep printing 'worthless paper' , it makes no sense


How do you explain the fact that USD got stronger in relation to every major currency, seems like the more you print the more its worth

AUD:USD used to be 1:1 and now you can get only 73c for AUD
Gold and silver both have uses in the real world, especially silver. A hard money system is to keep the fraud out. Look how much gold and silver cost back say 100 years ago, the fiat scam not being tied to something real as a means to keep them from making to much of it has debased the money to nothing practically since 1913. You can do a mathematically perfected economy with no inflation if set up right but anybody who starts loaning money at interest and it is enforced will end up owning the whole world. As Henry Ford stated " if people new how the banking system worked there would be revolution by morning " so for this reason there is a conspiracy to keep people from knowing.

The whole system was setup by the same people and they decide the exchange rates for the worlds currencies, there are no more free markets anymore. The Gold market is rigged down by futures contracts dumped on the Comex exchange but the dam looks like she may blow soon. Australia as well as America are Crown colonies and we use the Kings bank to facilitate trade amongst each other, the petro $ gives the American $ a major advantage to manipulate the other currencies values. It's backed by energy and a very very big gun.

Unbacked money is really the money of fascist, look where we are today ? but the masses need to be dealt with under a dictatorship from what I can see so be it.

Man's Fuc ked pretty much any way you look at it.
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