SUBSIM Radio Room Forums - View Single Post - Is gold money? Ron Paul makes Ben Bernanke squirm.

Tchocky · 08-02-11, 05:53 AM

Gold used to be money. Nowadays a lot of people seem to think that it will become money again. No real reason why we should be returning to backed-currency, also no real reason why gold should be particularly valued over anything else.
Gold has value because buyers and sellers think it has. The same is true of hard currency, the salient difference being that one is legal tender and the other is not.

Got my gold in the basement, ready to eat.

08-02-11, 05:53 AM	#5
Tchocky Navy Seal Join Date: Jul 2004 Posts: 5,874 Downloads: 6 Uploads: 0	Gold used to be money. Nowadays a lot of people seem to think that it will become money again. No real reason why we should be returning to backed-currency, also no real reason why gold should be particularly valued over anything else. Gold has value because buyers and sellers think it has. The same is true of hard currency, the salient difference being that one is legal tender and the other is not. Got my gold in the basement, ready to eat. __________________ [SIGPIC][/SIGPIC]