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/biz/ - Business & Finance

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16462878 No.16462878 [Reply] [Original]

Why don’t we just back every dollar with a milligram of Gold?

>> No.16462882

Even better, why don't we just back every dollar with a gram of cocaine?

>> No.16462907

>>16462882
>Even better, why don't we just back every dollar with magical lines of code?

>> No.16463047

>>16462907
>not trusting math
never gonna make it

>> No.16463089

>>16462878
why dont you just shut the fuck up

>> No.16463117

>>16463089
Heh, hey boys this guys TRIGGERED! HAHAHAHA

>> No.16463122

>>16462878
karatbars is doing just that. But with 0,1 of gold.

>> No.16463130

>>16462878
why not back it with a miligram of weed? its more useful that shiny rocks

>> No.16463217

Free money>gold

For the boomers who run this scam

>> No.16463273

>>16462878
Why don’t we just back every dollar with the U.S military?

>> No.16463281

Because people more intelligent than you realized gold backed currency doesn't work

>> No.16463301

>>16463281
Who Keynes? Give me a break.

>> No.16463302

>>16462878
The dollar isn't supposed to be a store of value.

>> No.16463306
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16463306

>>16462878
My dicks is big enough to back the entire U.S economy use that instead

>> No.16463307

>>16463281
bask in the glow

>> No.16463595

>>16463302
Why is why tether is the real store of value and BTC isn't?

>> No.16463617

>>16462878
This is the only way I see this playing out without the economy completely imploding

>> No.16463651

>>16463301
literally no country in the world has gold backed currency

>> No.16463712

>>16463651
China and Russia are either very close or already there.

>> No.16463821

>>16463712
No they aren't. US central bank has the largest gold reserves in the world, so by your logic dollar is backed by gold

>> No.16463830
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16463830

Dollars are backed by one ounce of silver OP.

>> No.16463840

>>16462907
>I don't understand math so therefore it is magic
Do you think computers and automobiles are magic too? Your life must be so full of wonder.

>> No.16463848

>>16462878
Way better to have your currency backed by guns

>> No.16464933

>>16462878
because the globalists need a neutral world reserve currency to dethrone the dollar before sovereign nations can do exactly that with the gold they've been hoarding

>> No.16464954

>>16463281
>muh lack of liquidity
Okay then make it a gold + silver standard. So one dollar is redeemable for .1oz of silver, and a $100 bill is like a .07oz gold

>> No.16464979

>when youre so deep in tyranny people want the thing that caused the tyranny

Prices should be denominated in pure gold and currency can be whatever the seller will accept. That way it does not matter who issues currency

>> No.16464982

Ask De Gaulle.

>> No.16464988

>>16462878

Belief keeps it all running desu

Backed by gold only works if people believe fort Knox has gold. Modern electronic communications + knowledge of how much gold physically resides on planet earth means that governments can no longer delude masses into believing how much gold is in fort Knox if another party on the planet can prove otherwise.

That's why bitcoin is the new gold

Otherwise; why not back dollars with Euros or any other fiat?

>>16462882

Or the ability to secretly acquire cocaine; with is how crypto got traction. Likely how any new form of cash gains traction.

>> No.16464990

>>16463830
This is completely false. Where can I redeem my paper dollars at once?

>> No.16465007

>>16462878
>Why don’t we just back every dollar with a milligram of Gold?
Why not say a dollar is worth 5 eggs or 20 bananas? Because it's arbitrary price fixing.

>>16464979
Prices are denominated in what you're going to be paying with. Denominating in a random commodity doesn't help anyone.

>> No.16465014

>>16462878
Because you touch yourself at night.

>> No.16465086

>>16465007
Classic anti scientific economist ideology.
Value is a dimension of reality

Everything has a value sameway everything has a length

A unit of measurement of a dimensionis something with a value of that dimension that is not a function of the dependent variable.
In the case of value, gold is the best unit of value because its value changes the least with respect to time. All other things value change relative to gold.

Disagreeing is like saying the meter should be defined by an index of the length of the objects close to it.
Fucking economists should have their heads examined. Every plotted relationship between two variables with a unit of measurement that is arbitrary function of the dependent variable is meaningless

>> No.16465149

>>16465086
>A unit of measurement of a dimensionis something with a value of that dimension that is not a function of the dependent variable.
Meant to say not a function of the independent variable

>> No.16465160

>>16465086
>arbitrary function of the dependent variable is meaningless
Independent not dependent

>> No.16465286
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16465286

>>16465086
>Everything has a value sameway everything has a length
Length is a physical reality, value is just an established exchange-ratio. It's not "real" in the same sense.

>gold is the best unit of value because its value changes the least with respect to time
Gold is in abundance in some places at some times and scarce in others at other times. It's real value changes just as dramatically depending on many factors.

>> No.16465350

>>16465286
Value is as a physical reality as length.
Value is measurable, length is measurable.
Measurement is a very simple concept, cpi is the inversion of good measurement.
You can measure value with anything you like fisheads, dog shit, iron, sea water if you go through it all gold is the best measure of value against time because its value changes the least with time not to say it doesnt change at all

>> No.16465368

>>16463281
Oy vey

>> No.16465513

>>16465350
Length is an inherent property of an object, value is a relationship between objects that changes. An ounce of gold will buy a lot more real goods in America today than it did in 1950.