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To: abb
gold is the historically stable value, and everything else fluctuates against it

We can say that but most people care about whether or not their money will be enough to buy the things that they're shopping for --namely food, clothing, shelter, etc.  Compared to those things people really don't buy gold that often.  That's why America's decided to regulate the value of the dollar so wages track consumer purchases as much as possible.  imho they've been doing a pretty good job:

 

49 posted on 12/11/2014 1:46:49 PM PST by expat_panama
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To: expat_panama

True, but now we’re getting into what is the definition of “money.”

One of the definitions is this: Money is anything that is widely used for making payments and accounting for debts and
credits.

http://193.6.12.228/uigtk/uipz/hallgatoi/Origins%20of%20Money%20and%20of%20Banking.pdf

As gold is no longer used widely, it fails the test.


50 posted on 12/11/2014 1:57:08 PM PST by abb ("News reporting is too important to be left to the journalists." Walter Abbott (1950 -))
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To: expat_panama

Many people say that ownership of “land” is the ultimate money and store of wealth. But think about this - ownership is predicated on nothing but a piece of paper on file at the clerk of court office a “deed.” And that “ownership” is dependent upon the performance of a just and honest legal system. Ain’t real comforting, is it?

Maybe lead and dry powder is the ultimate store of wealth?


51 posted on 12/11/2014 2:13:20 PM PST by abb ("News reporting is too important to be left to the journalists." Walter Abbott (1950 -))
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