Quote:
Originally Posted by theicecreamdan
Gold's "value" comes from the exact same place that the "value" of a dollar comes from.
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1 oz of gold = 1 oz of gold
10 oz of gold = 10 oz of gold
100 oz of gold = 100 oz of gold
What's the physical difference between 1 dollar and 100 dollars? Nothing.
The difference between 1 oz of gold and 100 oz is 99 oz a tangible different.
Quote:
Originally Posted by codyace
so lets assume the dolllar tanks
what's to say gold will replace it? who's to say that SeaShells won't become the next popular thing?
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Because sea shells aren't rare and there aren't armies guarding them in reinforced concrete and steel vaults with 20 ton doors.
Quote:
Originally Posted by codyace
even an intro to macro class covers this
I find it funny that some of the biggest supporters of the gold system often have the least (if any at all) economics education
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Most college economic professors are academic blowhards who spent their entire lives in academia. I know mines was.