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Title: IS GOLD MONEY?
Source: [None]
URL Source: [None]
Published: Jul 14, 2011
Author: Ron Paul
Post Date: 2011-07-14 13:07:59 by socalv8
Keywords: Paul, Ben, Good Question
Views: 74391
Comments: 131

Big Ben's hesitation was telling.

What say you?

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Begin Trace Mode for Comment # 23.

#2. To: socalv8 (#0)

Money serves two purposes -- a medium of exchange and a store of value.

Gold evolved as the most widely acceptable form of money over history because of it's characteristics -- it's scarce and durable.

The pieces of paper that we pass around today are a lousy store of value because the government purposefully inflates the money supply to hand out to special interests. The only reason that they are accepted as a medium of exchange is because the government has decreed them to be so.

jwpegler  posted on  2011-07-14   13:45:06 ET  Reply   Untrace   Trace   Private Reply  


#23. To: jwpegler (#2)

The only reason that they are accepted as a medium of exchange is because the government has decreed them to be so.

Which civilization started this nonsense and why?

socalv8  posted on  2011-07-15   0:03:06 ET  Reply   Untrace   Trace   Private Reply  


Replies to Comment # 23.

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