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To: arthurus
It swung no more wildly than its value in the economy.

Value is all well and good but in the market place where we work for a living we deal with prices.  Right now an oz of gold sells for 55 oz of silver.   In the early '90's it was over a hundred oz silver and a couple decades before that it was less than 20 oz silver.

Like it or not those were the prices.  That's why --politics aside-- virtually nobody wants to use gold as money to buy food and shelter.

16 posted on 08/20/2013 5:22:14 PM PDT by expat_panama
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To: expat_panama

You trash silver then say that’s why we can’t use gold! Some people just prefer fiat money, even people who think they are conservative. Well fiat money is what got us where we are. Fiat money in history has always done that. Some folks think that well the right people weren’t in charge of the money. Well communists think that about all the failed examples of socialism, too.


17 posted on 08/20/2013 5:25:47 PM PDT by arthurus (Read Hazlitt's Economics In One Lesson ONLINE http://steshaw.org/econohttp://www.fee.org/library/det)
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To: expat_panama

The same argument could be made against any currency, you know. You seem to view the dollar as somehow having fixed value. It does not. There was a time when stability was sought and encouraged, and lip service is still given to the notion of so doing. But, being an expat, I’m quite sure you’re aware of the several wild swings the dollar has experienced, just over the past six years. Colombian Pesos have taken a nosedive versus the dollar of late, that after spiking fairly wildly upward over the preceding several years. Those crazy Colombians I guess, see-sawing tgeir currency like that around the fixed dollar. Of all the nerve, lol.


18 posted on 08/20/2013 5:28:45 PM PDT by RegulatorCountry
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