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<p>[QUOTE="medoraman, post: 3717227, member: 26302"]I would disagree with the OP that the USD is not a store of value. Store of value has never meant indefinitely. It was always assumed it was within a timeframe. Even in ancient days, you could not hold on to a coin forever as a store of value, as civilizations changed. If your ruler wanted to debase, he debased. If you took a foreign coin to another country you never got full value in exchange. Even the idea that a US $20 gold piece has maintained its value over 150 years is cherrypicked data. In some ways it has, in other ways it hasn't.</p><p><br /></p><p>My other issue is this idea that money will be issued from private people. Why would someone take this counterparty risk? The entire point of "money" is that you can trust the counterparty. To have Oprah issue money, you really are going back to the days of broken bank notes, looking up for every transaction what the current conversion rate between Oprah bucks and Tyler Swift euros. Why? Why risk your money this way. The other issue is any government would never allow this to happen, as this is a huge source of wealth and power to them. Look at what happened to Liberty dollars.</p><p><br /></p><p>Edit: Nice post btw OP. Very intriguing and hopefully sparks a lively debate.[/QUOTE]</p><p><br /></p>
[QUOTE="medoraman, post: 3717227, member: 26302"]I would disagree with the OP that the USD is not a store of value. Store of value has never meant indefinitely. It was always assumed it was within a timeframe. Even in ancient days, you could not hold on to a coin forever as a store of value, as civilizations changed. If your ruler wanted to debase, he debased. If you took a foreign coin to another country you never got full value in exchange. Even the idea that a US $20 gold piece has maintained its value over 150 years is cherrypicked data. In some ways it has, in other ways it hasn't. My other issue is this idea that money will be issued from private people. Why would someone take this counterparty risk? The entire point of "money" is that you can trust the counterparty. To have Oprah issue money, you really are going back to the days of broken bank notes, looking up for every transaction what the current conversion rate between Oprah bucks and Tyler Swift euros. Why? Why risk your money this way. The other issue is any government would never allow this to happen, as this is a huge source of wealth and power to them. Look at what happened to Liberty dollars. Edit: Nice post btw OP. Very intriguing and hopefully sparks a lively debate.[/QUOTE]
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