Well, a medium of exchange can technically be anything, but in practice a commodity that has certain monetary attributes will win out. Gold, silver, and to a lesser extent copper are usually chosen as monies absent paper legal tender laws.
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Whoever is saying money can be whatever they want it to be thats fine nothing is wrong with that. Though all the worlds governments have used gold and silver as money Why? One of the greatest documents known to man the Constitution of the United States Federal Republic of North America clearly states in article 1 section 10 that only gold and silver shall be a tender in payment of debts.
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RP just politically beat the shit outa Bernanke.
Exactly. Money is a medium of exchange, it can be ANYTHING. Gold has been driven out as it is a better store of value. See Gresham's law. No more stupid questions.
Look there is not enough gold to go around for it to be a viable currency anymore.
Money is just a medium of exchange. It doesn't have to be gold. The only thing you can do with gold now is barter with it. duh
List the definition of money.
Ask retarded question.
any article or substance used as a medium of exchange, measure of wealth, or means of payment, as checks on demand deposit or cowrie?
I don't see gold
Deluded by what? An education and common sense? Look around you, do you really believe this world wide oligarchy of reserve banks is just going to throw their hands up and say, oops, we screwed up, let's let the entire system collapse. No, they will manipulate their way to whatever end they need to, and they've been showing you they are capable of that for at least four years now. Now, I could understand all of your attitudes in '07. But five years later, it's simply laughable.
*yawn* Money is something people have faith in as a medium of exchange. It's really that simple. Again, go take your medicine.
Blame? Where did I blame anyone for anything in that comment, you idiot? No, sir, I wouldn't have. Do you know what risk/reward is? What I'm saying is the juice is definitely not worth the squeeze anymore, if you all feel it is, then by all means, enjoy losing your purchasing power, that's completely up to you.
Oh? So tell me, what do you do to create wealth with the internet?
Seriously... go take your medicine.
Might wanna look up the definition of money.
Stop blaming and start taking action. Typical victimization mentality, irritating really. Would you have said the same thing, sir, back in 2000, when gold was $275/oz? Or silver at around $4/oz? You cannot stand here and make me believe that 'oh, it's those few rich old guys that are skimming off the larger group, the 99%'. I call BULLSHIT. Today, sir, you have access to the Internet, and literally, to all the information you need to create wealth if you choose to.
Yes, that's why it costs over $1,600 to buy a real $50 coin (1 oz of gold), or over $27 for a real $1 coin (1 oz of silver). Yes, in the middle ages, in the last century, and real soon, everyone will find out what real money is, including yourself. Please look up and learn the difference between MONEY and CURRENCY / FIAT CURRENCY.
Was the Constitution adopted in the middle ages ?
Good advice? *pat pat pat*
I apologize for giving you good advice! Have a nice day...:)
Also, I do not need advice from you. You really shouldn't have to be told that.
There's no point to stash it away. Sure, you take your gold to the bank and pay to have it stored. I find it funny how you believe that gold is somehow immune to inflation or volatility.
Correction then, how do you think this game works, lady?
I've studied the Fed plenty, so take that pompous attitude and shove it. I'm very aware of what they've done, and what they continue to do.
This is an economy of promises, not one of savings. You guys are stuck in the past.
Well, my advice to you is to stash your paper money under your mattress and I'll take my gold to the bank! And, by the way I'm a female and you might want to do more research on the Federal Reserve and what they actually do.
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