Re: A short numismatic history of the United States
- From: Bones <mahop1@xxxxxxxxx>
- Date: Wed, 30 Apr 2008 09:31:18 -0700 (PDT)
Interesting, but there are several intrinsic flaws in the logic that
is presented.
Not the least of which is the oft repeated comment that coinage in
"base metals" undermines the intrinsic worth of our money. I should
point out that gold and silver have no "intrinsic" value, beyond
perhaps their industrial applications. Gold has value only because we
agree that it does. You can't eat gold. If society should collapse,
the farmer with the silo full of corn will be viewed as a whole lot
wealthier than the banker with a vault full of paper money or the
survivalist with a hoarded stash of gold. In the final analysis gold
has value only because our society is stable enough to allow people to
trade, and value, this intrinsically worthless metal. Therefore, there
is no fundamental difference between a monetary system based on gold
and silver than there is on one based on a faith in the stability of
our society.
.
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- From: stonej
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