My hope is that by using the right terminology we'd help people to think about gold & silver as currencies.
Full Version: The Gold/Silver Terminology Campaign
My hope is that by using the right terminology we'd help people to think about gold & silver as currencies.
QUOTE (Steve Netwriter @ Sep 23 2008, 12:20 AM) 
My hope is that by using the right terminology we'd help people to think about gold & silver as currencies.
That's fine if gold is a nice round number like £500 or £1000. So at the moment I can convert over. The car cost 1oz of gold to repair the other week!
On a gold standard, you would have zero inflation.
A can of petrol 1 oz of silver 100 years ago.
A can of petrol 1 oz of silver today.
It would be hard to get used to things not going up!
A can of petrol 1 oz of silver 100 years ago.
A can of petrol 1 oz of silver today.
It would be hard to get used to things not going up!
QUOTE (notanewmeber @ Sep 23 2008, 10:52 PM)
On a gold standard, you would have zero inflation.
A can of petrol 1 oz of silver 100 years ago.
A can of petrol 1 oz of silver today.
It would be hard to get used to things not going up!
A can of petrol 1 oz of silver 100 years ago.
A can of petrol 1 oz of silver today.
It would be hard to get used to things not going up!
No, you'd just be more likely to price falls to balance price increases. And in some cases prices would change over time. That's price inflation rather than money supply inflation of course, but relative prces change all the time as well as total money supply conditions.
Price of oil, for instance, would still fluctuate constantly and may well escalate significantly over the next century as oil stocks dwindle.
It would make the value of things easier.
Sure fluctuations would exist but prices would remain stable and not jump by another order of magnitude every ten years [the FTSE, and the DOW, oil prices are proof of this] Holders of fiat money are forced to speculate if the money supply is high. They have to run in order to standstill.
If peak oil say is reached, then it would be justified for it to demand more ounces of gold. There would be more gold than barrels of oil, and that would be a one time event.
Sure fluctuations would exist but prices would remain stable and not jump by another order of magnitude every ten years [the FTSE, and the DOW, oil prices are proof of this] Holders of fiat money are forced to speculate if the money supply is high. They have to run in order to standstill.
If peak oil say is reached, then it would be justified for it to demand more ounces of gold. There would be more gold than barrels of oil, and that would be a one time event.
QUOTE (Fishfinger @ Sep 24 2008, 09:43 AM)
That's fine if gold is a nice round number like £500 or £1000. So at the moment I can convert over. The car cost 1oz of gold to repair the other week!
Ouch !
Maybe you should have asked for a few oz of silver discount
QUOTE (notanewmeber @ Sep 24 2008, 06:52 AM)
On a gold standard, you would have zero inflation.
A can of petrol 1 oz of silver 100 years ago.
A can of petrol 1 oz of silver today.
It would be hard to get used to things not going up!
A can of petrol 1 oz of silver 100 years ago.
A can of petrol 1 oz of silver today.
It would be hard to get used to things not going up!
Ah, but who would be willing to pay your salary in Gold or Silver,
when the have to sell their products in Dollars or Pounds
I think the fiat system works fine if you discover how to take advantage of it. It does produce benefits as long as you are aware of it.
I remember my father back in the 70s said Ill quit my job when I have saved £2000.
I doubt very much the interest extracted from £2000 each year could subsidise his life much after 10 years!
He never did quit his job once he saved £2000, notably.
I remember my father back in the 70s said Ill quit my job when I have saved £2000.
I doubt very much the interest extracted from £2000 each year could subsidise his life much after 10 years!
He never did quit his job once he saved £2000, notably.
QUOTE (notanewmeber @ Sep 25 2008, 08:24 PM)
I think the fiat system works fine if you discover how to take advantage of it. It does produce benefits as long as you are aware of it.
I remember my father back in the 70s said Ill quit my job when I have saved £2000.
I doubt very much the interest extracted from £2000 each year could subsidise his life much after 10 years!
He never did quit his job once he saved £2000, notably.
I remember my father back in the 70s said Ill quit my job when I have saved £2000.
I doubt very much the interest extracted from £2000 each year could subsidise his life much after 10 years!
He never did quit his job once he saved £2000, notably.
Is that not what bankers do - they are in the centre and understand the the system and live the good life creaming off a percentage from all the people who work for a living.
Yeah, unless there is a revolution.
Its a case of if you cant beat them, join them.
Let me have some Lloylds-TSB-HBOS shares when we are past the thick of it.
Its a case of if you cant beat them, join them.
Let me have some Lloylds-TSB-HBOS shares when we are past the thick of it.
Gold, silver, platinum have currency abbrev.s already: XAU, XAG, XPT. The usual exchange rates then are XAUUSD, USDXAU, EURXAG, and so on.
It's all in place, people should just use it.
It's all in place, people should just use it.
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