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Title: IS GOLD MONEY?
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Published: Jul 14, 2011
Author: Ron Paul
Post Date: 2011-07-14 13:07:59 by socalv8
Keywords: Paul, Ben, Good Question
Views: 78102
Comments: 131
Big Ben's hesitation was telling. What say you?
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#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.
The same thing happened with gold and silver based money. We saw deflation and inflationary periods with gold. In fact, just finding new gold mines would lower the value of your purse. We have had gold and silver bubbles before. As soon as people start to 'cash' in their gold holdings the price of gold will start to fall. That's what happened to the stock market and real estate bubbles. People bought the things and as more people bought the more the price went up but as soon as the tipping point was reached for people selling the stuff back the values collapsed.
We? Stealing from Jews causes a bubble?
What's wrong with you?
Free will and ambition, the lack of which creats socialists, hippies and Democrats.
I support your ambition to get ripped off by gold brokers. Go for it.
Not your choice and I don't invest in gold, Stewie.
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#4. To: jwpegler, mininggold (#2)
(Edited)
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.
#25. To: Godwinson (#4)
We have had gold and silver bubbles before.
#31. To: socalv8 (#25)
Stealing from Jews causes a bubble?
#38. To: Godwinson (#31)
What's wrong with you?
#42. To: socalv8 (#38)
Free will and ambition,
#44. To: Godwinson (#42)
I support your ambition to get ripped off by gold brokers. Go for it.
Replies to Comment # 44.
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