Quote:
Originally Posted by clickyclick
You really need to review history, gold exist long before paper money. People used to pay taxes with gold to the king in England in the old days:
http://en.wikipedia.org/wiki/Gold_standard
That's easy, you pay per ounce of gold. Example, you can buy some things buy things online such as an annoymous hosting with digital currency. You can even get an ATM card and exchange digital gold to cash:
http://www.londongoldexchange.com/ |
Quickly once again. You were speaking of currency, I was speaking of currency. That is why I said to check the origin of currency and mentioned spices. Currency has also existed way before any king of England. Linking to the gold standard does nothing in regards to what you said, nor what I countered with. If you really wish to pursue that path. You really should know that it would be highly debatable that anyone gave the king of England gold for taxes as the standard. Majority of taxes were paid in barter and when a currency was used it would rarely be gold by that time period. The use of silver has a currency was far more common over gold. That though really is a different debate. So again look up the word currency.
Using digital gold to pay for things even with an ATM means you have no gold in your possession again. It means you are having deposits with a bank.
I will presume you do know that every country uses a flat currency now. None out there is on any gold standard. I also figure you would know gold and the likes are subject to hoarding (which fucks up the whole currency idea) and also to market flooding. Which leads me to ask a hypothetical question. If gold went to say 1,500 an ounce (one thousand five hundred US dollars). Then lets say Canada then flooded the market with a massive gold dump from mines or a reserve to cash in. What would then happen to the value of gold?