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Define gold standard...

000ike
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9/4/2011 3:15:24 PM
Posted: 5 years ago
gold is shiny. Nothing more.
"A stupid despot may constrain his slaves with iron chains; but a true politician binds them even more strongly with the chain of their own ideas" - Michel Foucault
Ragnar_Rahl
Posts: 19,297
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9/4/2011 4:04:34 PM
Posted: 5 years ago
A place in which most prices are stated at least initially to the buyer in terms of gold or in terms of things exchangable at a bank for a fixed quantity of gold has a gold standard.
It came to be at its height. It was commanded to command. It was a capital before its first stone was laid. It was a monument to the spirit of man.
socialpinko
Posts: 10,458
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9/4/2011 4:08:05 PM
Posted: 5 years ago
A monetary standard under which the basic unit of currency is equal in value to and exchangeable for a specified amount of gold.
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BennyW
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9/4/2011 4:22:46 PM
Posted: 5 years ago
A monetary system where the currency is tied to a quantity of Gold. The value of the gold is irrelevant as it is quantity not value that a specific unit of currency represents.
You didn't build that-Obama
It's pretty lazy to quote things you disagree with, call it stupid and move on, rather than arguing with the person. -000ike
CosmicAlfonzo
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9/5/2011 1:09:50 AM
Posted: 5 years ago
It is when people make believe that gold is worth something, despite the fact that it is obviously a worthless rock(ok, it has some uses, but so do rusty forks).

Sometimes, a step further is taken and people pretend that pieces of paper are gold.

Way back in ancient times, all across the world, Kings developed a gold fetish, where they would build large vaults and swim around in gold naked ala Scrooge McDuck. Because there was not a piece of gold in those days that wasn't crammed up the orifice of a king(who were considered gods at the time), the gold was considered sacred and magical.

Like all beliefs, over time the origin of the belief, or even the purpose has been mostly forgotten.. but the effects of it still plague our collective consciousness.
Official "High Priest of Secular Affairs and Transient Distributor of Sonic Apple Seeds relating to the Reptilian Division of Paperwork Immoliation" of The FREEDO Bureaucracy, a DDO branch of the Erisian Front, a subdivision of the Discordian Back, a Limb of the Illuminatian Cosmic Utensil Corp
Kinesis
Posts: 3,667
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9/5/2011 3:25:53 AM
Posted: 5 years ago
At 9/5/2011 1:09:50 AM, CosmicAlfonzo wrote:
It is when people make believe that gold is worth something, despite the fact that it is obviously a worthless rock(ok, it has some uses, but so do rusty forks).

Its use is as a currency, for which it has the following three advantages: 1. It does not rust or decay over time, so gold is rarely taken out of circulation. 2. It is rare, so small amounts of it can have a large amount of value and 3. It can be split apart and divided without losing its value, unlike paper currency.
Kinesis
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9/5/2011 3:27:14 AM
Posted: 5 years ago
At 9/5/2011 2:27:03 AM, Rockylightning wrote:
Its a rock. They should have a rock standard, where any random rock is worth money. Look its sorta shiny.

Except that would be pointless because that would mean the supply of money could be extended indefinitely, which would defeat the whole point of having a standard.
Kinesis
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9/5/2011 3:31:00 AM
Posted: 5 years ago
The answer is yes, we can go back to it. There's no particular reason why not. Whether or not we should depends on whether you think the government (or whoever is in charge of the monetary supply) should have the power to create inflation at will (by printing money, or 'quantitive easing'). Having a standard creates a check on the government's power to do that.
CosmicAlfonzo
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9/5/2011 9:43:06 AM
Posted: 5 years ago
At 9/5/2011 3:25:53 AM, Kinesis wrote:
At 9/5/2011 1:09:50 AM, CosmicAlfonzo wrote:
It is when people make believe that gold is worth something, despite the fact that it is obviously a worthless rock(ok, it has some uses, but so do rusty forks).

Its use is as a currency, for which it has the following three advantages: 1. It does not rust or decay over time, so gold is rarely taken out of circulation. 2. It is rare, so small amounts of it can have a large amount of value and 3. It can be split apart and divided without losing its value, unlike paper currency.

It's a fvcking rock.
Official "High Priest of Secular Affairs and Transient Distributor of Sonic Apple Seeds relating to the Reptilian Division of Paperwork Immoliation" of The FREEDO Bureaucracy, a DDO branch of the Erisian Front, a subdivision of the Discordian Back, a Limb of the Illuminatian Cosmic Utensil Corp
mattrodstrom
Posts: 12,028
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9/5/2011 9:50:27 AM
Posted: 5 years ago
At 9/5/2011 9:43:06 AM, CosmicAlfonzo wrote:
It's a fvcking rock.

it's a Shiny rock..

one which people are rather accustomed to thinking are valuable.

now.. Beanie babies are Fcking beanie babies... but somehow several of them got Grossly Expensive compared to their utility too..

Now they fell back down.. b/c people stopped thinking they were cool..

but gold is still shiny, and people still like shiny things..

Plus, as I said people are used to gold being expensive.. Very used to it.. so it'll stay that way.
"He who does not know how to put his will into things at least puts a meaning into them: that is, he believes there is a will in them already."

Metaphysics:
"The science.. which deals with the fundamental errors of mankind - but as if they were the fundamental truths."
Greyparrot
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9/5/2011 9:51:13 AM
Posted: 5 years ago
Why do small amounts having a large value constitute good currency?

The supply of gold may be limited, but a society's people have near unlimited, or at least incalculable potential for promised goods and services.

That's what currency is supposed to really represent, does it not? The goods and services traded? Not some rock....

There is no way you can distribute a fair share of gold as money to each person without it being an insanely small pebble worth hundreds of thousands of paper dollars.
Greyparrot
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9/5/2011 10:07:00 AM
Posted: 5 years ago
At 9/5/2011 9:51:13 AM, Greyparrot wrote:

There is no way you can distribute a fair share of gold as money to each person without it being an insanely small pebble worth hundreds of thousands of paper dollars.

Also, I think it is harder to counterfeit currency than it is to find naturally occurring gold in nature.

Gold may not be as scarce as you imagine, which could lead to some disastrous fluctuations of people's personal wealth.
CosmicAlfonzo
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9/5/2011 10:09:19 AM
Posted: 5 years ago
Gold only has value because people think it has value.

It's a fvcking rock.
Official "High Priest of Secular Affairs and Transient Distributor of Sonic Apple Seeds relating to the Reptilian Division of Paperwork Immoliation" of The FREEDO Bureaucracy, a DDO branch of the Erisian Front, a subdivision of the Discordian Back, a Limb of the Illuminatian Cosmic Utensil Corp
Greyparrot
Posts: 14,212
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9/5/2011 10:25:21 AM
Posted: 5 years ago
At 9/5/2011 10:09:19 AM, CosmicAlfonzo wrote:
Gold only has value because people think it has value.

It's a fvcking rock.

Yah but imagine trying to make change with a damn rock for a soda...
Kinesis
Posts: 3,667
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9/5/2011 10:42:11 AM
Posted: 5 years ago
At 9/5/2011 10:09:19 AM, CosmicAlfonzo wrote:
Gold only has value because people think it has value.

It's a fvcking rock.

This is simply false. It has properties that make it uniquely suited to being a currency. Iron, coal or diamonds would, for various reasons, be less suited to being a standard or a currency than gold. Gold is intrinsically useful for the purpose of being a currency. Its value is not entirely extrinsic (as you are implying).
000ike
Posts: 11,196
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9/5/2011 11:09:34 AM
Posted: 5 years ago
At 9/5/2011 10:42:11 AM, Kinesis wrote:
At 9/5/2011 10:09:19 AM, CosmicAlfonzo wrote:
Gold only has value because people think it has value.

It's a fvcking rock.

This is simply false. It has properties that make it uniquely suited to being a currency. Iron, coal or diamonds would, for various reasons, be less suited to being a standard or a currency than gold. Gold is intrinsically useful for the purpose of being a currency. Its value is not entirely extrinsic (as you are implying).

lol, why is it that people always want to find some creative reason to justify things. No, gold a useless shiny rock. Its scarcity further makes it extremely inexpedient as a currency.
"A stupid despot may constrain his slaves with iron chains; but a true politician binds them even more strongly with the chain of their own ideas" - Michel Foucault
el-badgero
Posts: 1,045
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9/5/2011 12:17:37 PM
Posted: 5 years ago
At 9/5/2011 11:09:34 AM, 000ike wrote:
At 9/5/2011 10:42:11 AM, Kinesis wrote:
At 9/5/2011 10:09:19 AM, CosmicAlfonzo wrote:
Gold only has value because people think it has value.

It's a fvcking rock.

This is simply false. It has properties that make it uniquely suited to being a currency. Iron, coal or diamonds would, for various reasons, be less suited to being a standard or a currency than gold. Gold is intrinsically useful for the purpose of being a currency. Its value is not entirely extrinsic (as you are implying).

lol, why is it that people always want to find some creative reason to justify things. No, gold a useless shiny rock. Its scarcity further makes it extremely inexpedient as a currency.

you sure? I'd have thought scarcity makes it expedient as a currency. I'd have thought for the fairest economy currency would have to be a closed system, that you wouldn't want the value of that currency constantly decreasing due to more of it being found, or forged like would be possible with paper currency.. but then maybe it's too scarce to be split enough times to be of use?
DATCMOTO's moustache makes him look like an eejit...

edit: nah, i'm jealous... God's an eejit definitely though!
el-badgero
Posts: 1,045
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9/5/2011 12:22:08 PM
Posted: 5 years ago
At 9/5/2011 12:17:37 PM, el-badgero wrote:
At 9/5/2011 11:09:34 AM, 000ike wrote:
At 9/5/2011 10:42:11 AM, Kinesis wrote:
At 9/5/2011 10:09:19 AM, CosmicAlfonzo wrote:
Gold only has value because people think it has value.

It's a fvcking rock.

This is simply false. It has properties that make it uniquely suited to being a currency. Iron, coal or diamonds would, for various reasons, be less suited to being a standard or a currency than gold. Gold is intrinsically useful for the purpose of being a currency. Its value is not entirely extrinsic (as you are implying).

lol, why is it that people always want to find some creative reason to justify things. No, gold a useless shiny rock. Its scarcity further makes it extremely inexpedient as a currency.

you sure? I'd have thought scarcity makes it expedient as a currency. I'd have thought for the fairest economy currency would have to be a closed system, that you wouldn't want the value of that currency constantly decreasing due to more of it being found, or forged like would be possible with paper currency.. but then maybe it's too scarce to be split enough times to be of use?

that said, we should be Communists and computerize currency lol..
DATCMOTO's moustache makes him look like an eejit...

edit: nah, i'm jealous... God's an eejit definitely though!
el-badgero
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9/5/2011 12:28:57 PM
Posted: 5 years ago
At 9/5/2011 12:22:08 PM, el-badgero wrote:
At 9/5/2011 12:17:37 PM, el-badgero wrote:
At 9/5/2011 11:09:34 AM, 000ike wrote:
At 9/5/2011 10:42:11 AM, Kinesis wrote:
At 9/5/2011 10:09:19 AM, CosmicAlfonzo wrote:
Gold only has value because people think it has value.

It's a fvcking rock.

This is simply false. It has properties that make it uniquely suited to being a currency. Iron, coal or diamonds would, for various reasons, be less suited to being a standard or a currency than gold. Gold is intrinsically useful for the purpose of being a currency. Its value is not entirely extrinsic (as you are implying).

lol, why is it that people always want to find some creative reason to justify things. No, gold a useless shiny rock. Its scarcity further makes it extremely inexpedient as a currency.

you sure? I'd have thought scarcity makes it expedient as a currency. I'd have thought for the fairest economy currency would have to be a closed system, that you wouldn't want the value of that currency constantly decreasing due to more of it being found, or forged like would be possible with paper currency.. but then maybe it's too scarce to be split enough times to be of use?

that said, we should be Communists and computerize currency lol..

and that said, I can't see why we couldn't just computerize it and remain as we are... but gold's scarcity still makes it a good currency I'd think...minus it being too scarce.
DATCMOTO's moustache makes him look like an eejit...

edit: nah, i'm jealous... God's an eejit definitely though!
el-badgero
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9/5/2011 12:39:16 PM
Posted: 5 years ago
a computerized system would I'd imagine make things like tax evasion and robbery harder to get away with, but if that weren't an option I'd consider gold the second best...or maybe something slightly less scarce bit still scarce to make robbery slightly harder... anything fit that description? lol
DATCMOTO's moustache makes him look like an eejit...

edit: nah, i'm jealous... God's an eejit definitely though!
el-badgero
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9/5/2011 12:55:46 PM
Posted: 5 years ago
At 9/5/2011 9:51:13 AM, Greyparrot wrote:
Why do small amounts having a large value constitute good currency?

The supply of gold may be limited, but a society's people have near unlimited, or at least incalculable potential for promised goods and services.

That's what currency is supposed to really represent, does it not? The goods and services traded? Not some rock....

There is no way you can distribute a fair share of gold as money to each person without it being an insanely small pebble worth hundreds of thousands of paper dollars.

fair enough... let's computerize everything and be Communists!
DATCMOTO's moustache makes him look like an eejit...

edit: nah, i'm jealous... God's an eejit definitely though!
Kinesis
Posts: 3,667
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9/5/2011 1:06:10 PM
Posted: 5 years ago
At 9/5/2011 11:09:34 AM, 000ike wrote:
lol, why is it that people always want to find some creative reason to justify things. No, gold a useless shiny rock. Its scarcity further makes it extremely inexpedient as a currency.

The reasons I gave aren't creative inventions, they're the reasons gold has been used for centuries as a currency. And scarcity is an advantage. It means you don't have to have large, cumbersome quantities to have a large quantity of money.
CosmicAlfonzo
Posts: 5,955
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9/5/2011 1:07:39 PM
Posted: 5 years ago
It's a fvcking rock.
Official "High Priest of Secular Affairs and Transient Distributor of Sonic Apple Seeds relating to the Reptilian Division of Paperwork Immoliation" of The FREEDO Bureaucracy, a DDO branch of the Erisian Front, a subdivision of the Discordian Back, a Limb of the Illuminatian Cosmic Utensil Corp
el-badgero
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9/5/2011 1:07:48 PM
Posted: 5 years ago
At 9/5/2011 10:07:00 AM, Greyparrot wrote:
At 9/5/2011 9:51:13 AM, Greyparrot wrote:

There is no way you can distribute a fair share of gold as money to each person without it being an insanely small pebble worth hundreds of thousands of paper dollars.

Also, I think it is harder to counterfeit currency than it is to find naturally occurring gold in nature.

Gold may not be as scarce as you imagine, which could lead to some disastrous fluctuations of people's personal wealth.

but if we were sure we'd found all the gold and there ended up being enough to share out a considerable amount to everyone...

but still fair enough...

I suppose nobody has any idea how currency was originally distributed? I'd be interested to know how...
DATCMOTO's moustache makes him look like an eejit...

edit: nah, i'm jealous... God's an eejit definitely though!
el-badgero
Posts: 1,045
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9/5/2011 1:10:40 PM
Posted: 5 years ago
At 9/5/2011 1:07:39 PM, CosmicAlfonzo wrote:
It's a fvcking rock.

you're a fvcking rock...
DATCMOTO's moustache makes him look like an eejit...

edit: nah, i'm jealous... God's an eejit definitely though!
mattrodstrom
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9/5/2011 1:10:41 PM
Posted: 5 years ago
At 9/5/2011 1:07:39 PM, CosmicAlfonzo wrote:
It's a fvcking rock.

Bills are fvcking paper...

instead I suppose a Barter system would be best? o.O

Trade you 10 burritos for a days labor?
"He who does not know how to put his will into things at least puts a meaning into them: that is, he believes there is a will in them already."

Metaphysics:
"The science.. which deals with the fundamental errors of mankind - but as if they were the fundamental truths."
el-badgero
Posts: 1,045
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9/5/2011 1:14:35 PM
Posted: 5 years ago
At 9/5/2011 1:10:41 PM, mattrodstrom wrote:
At 9/5/2011 1:07:39 PM, CosmicAlfonzo wrote:
It's a fvcking rock.

Bills are fvcking paper...

instead I suppose a Barter system would be best? o.O

wouldn't allow for anything complex being generated I wouldn't imagine...

Trade you 10 burritos for a days labor?

for exactly this reason.
DATCMOTO's moustache makes him look like an eejit...

edit: nah, i'm jealous... God's an eejit definitely though!