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<p>[QUOTE="mikem2000, post: 1510690, member: 30574"]First of all I am currently not stacking PM's I have in the past and I may in the future, but not now. Also that decsion not to stack now has nothing to do with PM's being money or not. It is just my assessment of the current value and current price on the commodity. It is my Opinion, (this is the first Opinion I have stated so far in this thread, everything was fact) that the currect price of Silver exceeds the current value. If that changes, my position will be of a more bullish nature.</p><p><br /></p><p>Now for your post. I could not agree more, I could have written it myself</p><p><br /></p><p><br /></p><p><br /></p><p><i><font size="2">The <span style="color: #ff0000"><b>need</b></span> to "sell" them for cash is because of the <span style="color: #ff0000"><b>current medium of exchange</b></span> only, or the <b><span style="color: #ff0000">need</span></b> of the <b><span style="color: #ff0000">currently accepted </span></b>medium of exchange.</font></i></p><p><i><font size="2"><br /></font></i></p><p><i><font size="2"><br /></font></i></p><p><br /></p><p><br /></p><p><br /></p><p>You see, there is a NEED to sell because of the CURRENT medium of exchange. When PM's were money there was no need to sell, because they WERE the CURRENT medium of exchange. Used to be money, now they are not. So lets go 360 here and look at the very first line in the proof that Inflexion posted as the definition of money that he believes from the WIKI. </p><p><br /></p><p><br /></p><p><br /></p><p><i><b>Money</b> is any object or record that is generally accepted as <a href="http://www.cointalk.com/wiki/Payment" class="internalLink ProxyLink" data-proxy-href="http://www.cointalk.com/wiki/Payment">payment</a> for <a href="http://www.cointalk.com/wiki/Goods_and_services" class="internalLink ProxyLink" data-proxy-href="http://www.cointalk.com/wiki/Goods_and_services">goods and services</a> and repayment of <a href="http://www.cointalk.com/wiki/Debts" class="internalLink ProxyLink" data-proxy-href="http://www.cointalk.com/wiki/Debts">debts</a> in a given socio-economic context or <a href="http://www.cointalk.com/wiki/Country" class="internalLink ProxyLink" data-proxy-href="http://www.cointalk.com/wiki/Country">country</a>.[SUP]<a href="http://www.cointalk.com/#cite_note-0" class="internalLink ProxyLink" data-proxy-href="http://www.cointalk.com/#cite_note-0">[1]</a>[/SUP][SUP]<a href="http://www.cointalk.com/#cite_note-1" class="internalLink ProxyLink" data-proxy-href="http://www.cointalk.com/#cite_note-1">[2]</a>[/SUP][SUP]<a href="http://www.cointalk.com/#cite_note-2" class="internalLink ProxyLink" data-proxy-href="http://www.cointalk.com/#cite_note-2">[3]</a>[/SUP] The main functions of money are distinguished as: a <a href="http://www.cointalk.com/wiki/Medium_of_exchange" class="internalLink ProxyLink" data-proxy-href="http://www.cointalk.com/wiki/Medium_of_exchange">medium of exchange</a>; a <a href="http://www.cointalk.com/wiki/Unit_of_account" class="internalLink ProxyLink" data-proxy-href="http://www.cointalk.com/wiki/Unit_of_account">unit of account</a>; a <a href="http://www.cointalk.com/wiki/Store_of_value" class="internalLink ProxyLink" data-proxy-href="http://www.cointalk.com/wiki/Store_of_value">store of value</a>; and, occasionally in the past, a <a href="http://www.cointalk.com/wiki/Standard_of_deferred_payment" class="internalLink ProxyLink" data-proxy-href="http://www.cointalk.com/wiki/Standard_of_deferred_payment">standard of deferred payment</a>.[SUP]<a href="http://www.cointalk.com/#cite_note-mankiw-3" class="internalLink ProxyLink" data-proxy-href="http://www.cointalk.com/#cite_note-mankiw-3">[4]</a>[/SUP][SUP]<a href="http://www.cointalk.com/#cite_note-greco-4" class="internalLink ProxyLink" data-proxy-href="http://www.cointalk.com/#cite_note-greco-4">[5]</a>[/SUP] Any kind of object or secure verifiable record that fulfills these functions can serve as money.</i></p><p>It is very clear. See, it has to be generally accepted, which Silver is not or you would not need to sell it for money. It also needs to serve as a medium of exchange, but you clearly state, the reason to sell it, is the NEED of the CURRENTLY ACCEPTABLE medium of exchange. If it were money it WOULD be the CURRECTLY ACCETABLE MEDIUM of Exchange and there would be absolutely no need to sell it.</p><p><br /></p><p>Again, used to be money, now it is not.</p><p><br /></p><p><br /></p><p>Also please notice, how I am only using your words and arguments. I am sure by now you feel I am twisting your words, but if you read it cafefully you will see I am not. Also, notice when these super pro buillion folks are spewing their words, try to pick up on the inacuracy's half truths and lies. If you pick up on an untruth, think to your self, Ok what other things is he saying that are untrue. </p><p><br /></p><p>My absolute favorite is, there is no Physical Silver backing up the ETF SLV. The stackers just love that one, but it is not true, just look it up.</p><p><br /></p><p>Mike[/QUOTE]</p><p><br /></p>
[QUOTE="mikem2000, post: 1510690, member: 30574"]First of all I am currently not stacking PM's I have in the past and I may in the future, but not now. Also that decsion not to stack now has nothing to do with PM's being money or not. It is just my assessment of the current value and current price on the commodity. It is my Opinion, (this is the first Opinion I have stated so far in this thread, everything was fact) that the currect price of Silver exceeds the current value. If that changes, my position will be of a more bullish nature. Now for your post. I could not agree more, I could have written it myself [I][SIZE=2]The [COLOR=#ff0000][B]need[/B][/COLOR] to "sell" them for cash is because of the [COLOR=#ff0000][B]current medium of exchange[/B][/COLOR] only, or the [B][COLOR=#ff0000]need[/COLOR][/B] of the [B][COLOR=#ff0000]currently accepted [/COLOR][/B]medium of exchange. [/SIZE][/I] You see, there is a NEED to sell because of the CURRENT medium of exchange. When PM's were money there was no need to sell, because they WERE the CURRENT medium of exchange. Used to be money, now they are not. So lets go 360 here and look at the very first line in the proof that Inflexion posted as the definition of money that he believes from the WIKI. [I][B]Money[/B] is any object or record that is generally accepted as [URL="http://www.cointalk.com/wiki/Payment"]payment[/URL] for [URL="http://www.cointalk.com/wiki/Goods_and_services"]goods and services[/URL] and repayment of [URL="http://www.cointalk.com/wiki/Debts"]debts[/URL] in a given socio-economic context or [URL="http://www.cointalk.com/wiki/Country"]country[/URL].[SUP][URL="http://www.cointalk.com/#cite_note-0"][1][/URL][/SUP][SUP][URL="http://www.cointalk.com/#cite_note-1"][2][/URL][/SUP][SUP][URL="http://www.cointalk.com/#cite_note-2"][3][/URL][/SUP] The main functions of money are distinguished as: a [URL="http://www.cointalk.com/wiki/Medium_of_exchange"]medium of exchange[/URL]; a [URL="http://www.cointalk.com/wiki/Unit_of_account"]unit of account[/URL]; a [URL="http://www.cointalk.com/wiki/Store_of_value"]store of value[/URL]; and, occasionally in the past, a [URL="http://www.cointalk.com/wiki/Standard_of_deferred_payment"]standard of deferred payment[/URL].[SUP][URL="http://www.cointalk.com/#cite_note-mankiw-3"][4][/URL][/SUP][SUP][URL="http://www.cointalk.com/#cite_note-greco-4"][5][/URL][/SUP] Any kind of object or secure verifiable record that fulfills these functions can serve as money.[/I] It is very clear. See, it has to be generally accepted, which Silver is not or you would not need to sell it for money. It also needs to serve as a medium of exchange, but you clearly state, the reason to sell it, is the NEED of the CURRENTLY ACCEPTABLE medium of exchange. If it were money it WOULD be the CURRECTLY ACCETABLE MEDIUM of Exchange and there would be absolutely no need to sell it. Again, used to be money, now it is not. Also please notice, how I am only using your words and arguments. I am sure by now you feel I am twisting your words, but if you read it cafefully you will see I am not. Also, notice when these super pro buillion folks are spewing their words, try to pick up on the inacuracy's half truths and lies. If you pick up on an untruth, think to your self, Ok what other things is he saying that are untrue. My absolute favorite is, there is no Physical Silver backing up the ETF SLV. The stackers just love that one, but it is not true, just look it up. Mike[/QUOTE]
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