Message:

<p>[QUOTE=&quot;cladking, post: 782589, member: 68&quot;]Moderns are shinier.&nbsp; </p><p><br /></p><p>You&#039;re missing the original point.&nbsp; Everything is worth what people believe it&#039;s worth.&nbsp; This applies especially to money because almost everyone owns and uses it. The government can&#039;t assign any value whatsoever to it, they merely issue it.&nbsp; If the money contains its full value in precious metal then it will be stable relative the precious metal.&nbsp; This is exactly what has caused economic upheavals many times in history; a sudden revaluation in peoples&#039; perception of the value of the metal underlying the currency.&nbsp; Such upheavals are extremely dangerous in modsernb times because even food comes from factories which are depenbdent on a solid economic system to function and the economic system is dependent upon money.&nbsp; </p><p><br /></p><p>Gold has no inherent value or at least it doesn&#039;t have to be valued at any given rate.&nbsp; Just look at the price of gold since 2002 for proof.&nbsp; The value of the dollar has dropped only about 25% but gold is up more than 300%!!! </p><p><br /></p><p>In 1935 the silver value of a brand new 1932-S quarter still being&nbsp; released by the FED was 6c.&nbsp; But guess what; people accepted this coin in payment for even more&nbsp; goods and services than they did similar coins a few years earlier.&nbsp; A 2007 states quarter had nearly 10c worth of metal in it but people didn&#039;t and don&#039;t value it more highly than a BU &#039;32-S or any other silver quarter (in most cases).&nbsp; </p><p><br /></p><p>The value of money is the net estimation of those who buy and sell it.&nbsp; Neither the value of the metal nor the will of the issuer have any direct impact on this estimation.[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in