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<p>[QUOTE="sakata, post: 2733845, member: 23778"]Nothing is allowed to grow more quickly or slowly that the supply of labor. Labor is the only thing which produces honest money. Mining gold, silver and copper are three ways of producing money which go back thousands of years but they are not the only way. Printing FRNs or betting on the stock market is not honest labor as they are based on the trust in an entity which can rescind its notes at any time.</p><p><br /></p><p><br /></p><p><br /></p><p>Anything can be money and throughout history many things have been. But they have all been create through the use of labor (mining gold, harvesting seashells, raising cattle, etc.) But FRNs and other world fiat currency are not produced through someone's labor and neither is token coinage. They are all money but they are not honest money. Their value can be taken away at any time by the government.</p><p><br /></p><p>It only takes an example like Weimar Germany to realize that those who kept their store of value in honest money (PMs) maintained it while those who kept in dishonest money (scraps of government issued paper) lost everything.[/QUOTE]</p><p><br /></p>
[QUOTE="sakata, post: 2733845, member: 23778"]Nothing is allowed to grow more quickly or slowly that the supply of labor. Labor is the only thing which produces honest money. Mining gold, silver and copper are three ways of producing money which go back thousands of years but they are not the only way. Printing FRNs or betting on the stock market is not honest labor as they are based on the trust in an entity which can rescind its notes at any time. Anything can be money and throughout history many things have been. But they have all been create through the use of labor (mining gold, harvesting seashells, raising cattle, etc.) But FRNs and other world fiat currency are not produced through someone's labor and neither is token coinage. They are all money but they are not honest money. Their value can be taken away at any time by the government. It only takes an example like Weimar Germany to realize that those who kept their store of value in honest money (PMs) maintained it while those who kept in dishonest money (scraps of government issued paper) lost everything.[/QUOTE]
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