I said currency right after fiat so it's obvious what I meant. At this point it's obvious your are a JIDF shill trying to derail this thread nit picking at words.
Central bank gold buying hits highest level in half a century
Mason Lewis
Joseph Ramirez
Same thing can be said for animal pelt.
Anything can be used as money, even bottle caps, that doesn't mean it is a valid use for it in some sort of production process that drives economy.
We can trade "money" back and forth all we want but that doesn't drive economy.
They're hedging their bets that US economy will fall in next 2 or 3 years and that THAT will induce new recession even worse than 2008 one or 1920s one.
The fact of matter is that YES, this 2008-2019 year period of constant bear market (the second longest in history) only means that next recession will hit harder, but if it will happen in next 2 to 3 years or 10 years it is a bet that Russia and China is willing to bet on.
Dont let me get into big bubbles in economy that are China and Russia, but the next global recession will probably start in US and thats why they're buying gold.
Well Donald Trump stopped president Maduro from creating his Petro coins and Russia already created one. You could argue that China has control over their money externally and internally and that they don't need coins but if they were to make all those phone users change for coin I don't think they would mind.
In another words, you can just hoard bottle caps instead of pure gold, sure, but you can buy no name crypto instead of bitcoin also.
Some economists would try to argue different point but I guess you are right.
I don't see how gold, which has little to none intrinsic value is valuable then.
Luis Thompson
Characteristics of money:
Juan Clark
That would be called bartering. Not every animal pelt is the same value as another and is not divisible so it would make horrible money. Bottle caps would be horrible since anyone could make a ton of them.
Not really anyone can copy the code and make their own bitcoins. Not only that the block chain can be forked and double the supply of the coins. Gold and silver are elements that can't be created outside of using an actual star to make them.
If the government didn't have to borrow the currency into existence I would have a lot less problem with it. They should just be able to create the supply without having to pay it back at interest if everyone wants free gibs me dats.
Well I guess you could argue all value is subjective to the individual. Gold is about $1,320 an ounce right about now. Look up article 1 section 10 of the constitution. Also the coinage act of 1792.
Adam Stewart
now you either don't know what cryptos are or you are purposefully acting like an idiot
James Lee
Adrian Johnson
The meaning of a word is what gives value to that word. Yet, here in a thread about the value of things, you pretend that meanings are not important. You do not communicate with feelings but ideas.
You must be accurate in your use of words
or jews will try and trick you.
Gavin Murphy
Currency
1. Something that is used as a medium of exchange; money. The sense of a flow or course extended (by John Locke) to "circulation of money".
Money
1. Any circulating medium of exchange, including coins, paper money, tendies, and demand deposits.
While they are presently used interchangeably, 'currency' is anything that can be traded while 'money' is made specifically for trade. While all 'money' is 'fiat', not all 'currency' is. It is important to be aware of and acknowledge this distinction.
Lincoln Hughes
Yeah but none of those are required aside from counterfeitable.
For example:
Buildings are easily damaged but are a store of value.
Land isn't portable but is a store of value.
Animals aren't readily divisible but are store of value.
Food has no standard of value but is a store of value.
These are preferences for increased usability but not hard requirements.
Luke Carter
Who does this sound like?