"We seem to have reached a moment of insight: your affection for gold combines nostalgia and faith"
Nostalgia and faith, huh? No facts, logic or reasoning? Is that why when I pointed out the error you made in saying that fiat currency is a store of value you ignored it and failed to respond? And when I pointed out your two contradictory statements:
1. You can't create wealth by issuing currency
- and -
2. When currency is issued it can become a store of value
you ignored it and again failed to respond.
And now you want to give me a lesson in Roman history and the development of the modern (read govt sanctioned fraud) banking system? Why would I take the time to refute (easily) any of the points you've made? You will simply ignore my side of the conversation and return with another irrelevant lecture. Frankly Rockingham, you are not worth the time and are now on my ignore list.
Have a nice day.
Beyond question, fiat money and financial instruments based on it can be a store of value. This is a basic of finance. Do not take my word for it. Buy a copy of the Wall Street Journal or other financial paper and take a look at the price listings for notes, bonds, and certificates of deposit. Since people in the real world treat them as investment grade, they are in fact investment grade even if they are not backed by gold.
You seem to be unwilling as a matter of ideology to recognize the usefulness and value of fiat money dollars. They may seem to be backed by nothing, but they are legal tender backed by the US legal system and are recognized and accepted as valuable throughout the world.