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<p>[QUOTE=&quot;medoraman, post: 3939124, member: 26302&quot;]People who claim &quot;PMs are money&quot; are confusing relative worth for money. Money is the government authorized medium of exchange, PERIOD. They USED TO be printed on gold and silver in this country, but even then the metal was not full value. Go back 100 years and see that $1 worth of US coinage did NOT contain $1 worth of silver. The real MONEY was PRINTED ON PM to make some feel better about them, but apparently didn&#039;t work really well, or most didn&#039;t care, since silver dollars and gold coins circulated very little compared to paper money. </p><p><br /></p><p>The discussion about trading 10 ounces of gold for something in 1919 and can still do so today is about ounces of gold bullion, NOT &quot;money&quot;, as we have already established gold was not money 100 years ago, nor today. The fact that someone would need to be called in to calculate the conversion between gold and &quot;real money&quot; in a transaction proves that gold is a commodity with value, but not on its face &quot;money&quot;. I could do the same with barrels of oil, pallets of copper wire, heads of cattle, acres of Iowa farmland, etc. All of these things have held their relative value, and to an interested seller bartered for a car, etc. but NONE of them are &quot;money&quot;, they are items that retain value and can be bartered for the same relative value over time.</p><p><br /></p><p>Of course, preaching to the choir to you Jeff. <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie1" alt=":)" unselectable="on" unselectable="on" />[/QUOTE]</p><p><br /></p>

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