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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: 75343
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?
As in the human race.
Fair enough, but I didn't ask you. I asked someone far less credible than you.
I asked you what you meant by "tulips". Tulip mania or tulipomania (Dutch names include: tulpenmanie, tulpomanie, tulpenwoede, tulpengekte and bollengekte) was a period in the Dutch Golden Age during which contract prices for bulbs of the recently introduced tulip reached extraordinarily high levels and then suddenly collapsed.[2] At the peak of tulip mania, in February 1637, some single tulip bulbs sold for more than 10 times the annual income of a skilled craftsman. It is generally considered the first recorded speculative bubble... Wikipedia
Interesting and worth looking into, thanks.
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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.
#32. To: socalv8 (#25)
We?
#39. To: lucysmom (#32)
As in the human race.
I asked you what you meant by "tulips".
#43. To: socalv8 (#39)
#45. To: lucysmom (#43)
Replies to Comment # 45.
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