Why People Use Gold (The Secret Of Oz Rebuttal)

Here I talk about the REASON WHY people use gold as a currency and continue to measure currency against gold. Why printing paper and using sticks and rocks are not good uses of currency.

[@epicbeerdude]

holy shit it's TSA! what's up bro !! nice to see you back !!

[@charronfamilyconnect]

time banking is another way of bartering without the need for any currency. We are not limited by paper silver or gold to exchange goods when we organize ourselves. There are no limits to what we can do.

[@xalr1982x]

Good to see you again!

[@dc-eh8mu]

This is a classic example of the Labor Theory of Value. Common held position by many intelligent people (like Adam Smith and Karl Marx), but wrong.

[@jakeanddar]

Hey buddy,give that EPIC laugh,you might become famous someday for that! Cheers 17

[@Kanuckbrewer]

peice is reely spelted: piece

[@manosaxy]

People use gold as a measure of value because someone placed a value on it. I suppose if you went back far enough gold was seen as valuable because it didn't change and was able to to be molded fairly easily into things that wouldn't quickly loose their luster. BTW i don't think that 'digged" is a word.

[@charronfamilyconnect]

No one should have a monopoly on money but paper currency can function at a local level to enable exchange. Just look at the Austrian Worgl as a prime example. Gold and silver are great for wealth storage,but paper currency (not debt based) at a local level has proven to function without inflation occuring. Just open you mind &study this whole field before drawing conclusions.By the way Von Mises Australian school received lots of backing from elite groups like Rockefeller who'd love AU standard

[@JunkFoodJohn]

Come on guys!

[@76Chev4x4]

Uhm... wow... that was painful to watch. About the only thing you got correct was gold being used as a medium of exchange when a barter was not practical, and you still fumbled and muddled through that. When you come up with a theory, a knowledge of the subject and history on that which your are espousing on is required. I would strongly suggest that you not give investment or other financial advice of any kind in the future... Oh, and don't quit your job if you have one.

[@chelom]

Paper money dont waste time. U spend a whole day digging for gold, but u generate 0 wealth on that activity. Gold produce nothing. Paper dont produce nothing as well but u dont loose time, that mean u could use that time to produce something. Thats the reason i think paper money is better.