Muh gold standard is good

>muh gold standard is good

Let me tell you a story about metal based currencies. Once upon the time the Spanish Empire was one of the most powerful empires of its time. However, after suffering a series of defeats at the hands of rival England, Portugal, and France; the Spanish coffers were in seriously short supply.

One of the things that led to the decline of Spain as an Empire was in fact gold and silver. Something that Sup Forums doesn't realize. Money doesn't need to be worth anything. The Ancient Babylonians used clay tablets. Some civilizations used sea shells. The chemical/metal properties of silver and gold are impressive. It's rarity gives it value. But at the end of the day gold and silver are just really expensive clay tablets and have zero use in facilitating the purpose of money - transferring worth. Could you imagine how difficult it would be in this day and age? A man goes from the UK and travels to say Japan. How is he supposed to carry his currency? In a duffle bag filled with gold bars and coins? Okay lets put it in a bank. Then what? His currency magically reappears in Asia?

And that is exactly what money is supposed to be. Money is an idea. It is a promise to pay. It is a promissory note.

My story ends with what actually happened to the Spanish and a man called Pizarro. He found the Cerro Rico - literally the rich hill. He brought back to Spain so much gold and silver that it actually decreased the value of gold and silver and in the end did nothing to stop the end of Spain's collapse as a global empire.

tl;dr gold standard is just a big ancient meme

Other urls found in this thread:

en.wikipedia.org/wiki/Gold_reserve
youtube.com/watch?v=lCEAdiDxiIA
twitter.com/NSFWRedditImage

>tl;dr gold standard is just a big ancient meme
Your probably right, but then the value of a currency is based on the confidence in the issuing authority.

Just give up on scarce material goy. We will handle money for you. No. No printing. This? But this is only issuing credit. What do you mean it's the same thing? Do you want to get into muh deflation spiral? That's right. You are a good goy!

How else will we bribe the reptilian overloads when they return for payment?
Also vatican holds 1/3 gold. they manipulate economies how they choose.

So what you're saying is the gold standard would have man in space to mine gold much much sooner?

Wtf I love government issued cryptocurrency and hate not starving now

en.wikipedia.org/wiki/Gold_reserve
>US Gold reserve:
8,133.5 tonnes

After converting to troy ounces and using the (maximum held rate) of 1250 USD per troy ounce of gold, the total US economy would only be valued at ~300 billion dollars.

This is how stupid you guys sound.

>After converting to troy ounces and using the (maximum held rate) of 1250 USD per troy ounce of gold, the total US economy would only be valued at ~300 billion dollars.
>This is how stupid you guys sound.

Yeah , and all standards,price models, and exchanges would be adjusted accordingly.

You sound pretty stupid.

>comparing potential with current situation
Are you stupid? Gold would be worth 100 tines more if it had to cover all money.

Hes a EU fag, of course he is

I will not lie - this looks delicious

Munchy box backed economy when?

hello kike

Rate my gold

Hygiene doesn't look great but ribs with some kind of fatty potato hash sounds amazing. This is more of a southern Deutschland cuisine in fast food form. But overall we have one of the bravest most caloric cuisine in the world

Czech food is very good

Sertiously, how are these not a thing in America??

Every time, I get an enormous boner and can't tame it.

I rate it - "you will be able to buy a horse after dollar falls" out of 10

Would shoot and take/10

Lesson to take from this:
>Gold standard is bad
or
>getting btfo by England, Portugal and France is bad

This one beats every sandwich burgers can offer.

>the total US economy would only be valued at ~300 billion U.S dollars
>but those U.S dollars would have so much purchasing power that 300 billion of them would be equivalent to whatever the U.S economy is currently worth in todays U.S dollars

You really don't understand anything at all do you?

This will cause a deflation.

>tfw already have a horse and if shit does go down I could easily kill my neighbours and take their horses as well

...

Bean crock is very nice and should be easy to make from what you can get in Czech

you are a hell of a pepper
If you own basic capital than I recommend you to invest in solar panels and weapons. Gold will loose most of its value anyway when dollar crashes

No big chunk of meat. No cream. No dumplings. I'll pass on this one

Thats the secret, its pretty much full of meat,

Impressive. My sodium levels are severely heigh just from looking at that picture.
Picture - koprovka

>Could you imagine how difficult it would be in this day and age? A man goes from the UK and travels to say Japan. How is he supposed to carry his currency? In a duffle bag filled with gold bars and coins? Okay lets put it in a bank. Then what? His currency magically reappears in Asia?
Goddamn, OP, you are a special kind of retard.

youtube.com/watch?v=lCEAdiDxiIA

...

>. It is a promise to pay. It is a promissory note.
wrong. it isn't
kys

>Also vatican holds 1/3 gold. they manipulate economies how they choose.
rubbish
stop posting tripe

>Yeah , and all standards,price models, and exchanges would be adjusted accordingly.
and that adjustment is why this dont work
ffs get a brain transplant

Gold is valued because of the rarity. Using gold as currency is a poor choice. Using gold to back a currency makes sense. A promise to pay the bearer or whatever.
The reason Bitcoin rises is the rarity. Only 21million exist. No more. If more could exist, they would be worthless, because everyone would make them.
The reason Pizarro fucked up is over saturation of the market. Bitcoin comes out in a trickle, getting harder to procure as more are in circulation.

Banks print money like it's nothing. They print money using debt and the interest owed to them from that debt as a 'Back'. If the point comes where people can't repay the debts, or provide the interests payments, the banks and currencies around the world will crumble, being worth nothing.

how safe are crypto currencies? how long until computing technology is able to decrypt them? 10 years? 5 years? probably less.

have fun with your tulips

If it comes down to trading with gold I'd rather have bullets.

>Oi oi stop bing-diddly-womping pish-trollies ya muntered proxy trout

Are you even a real person?

>no time stamp
the last time a time stamp appeared on Sup Forums was in 2014
>last 3 year its just kikes and sjws shitposting lies to each other

Shill

Shit, buddy, those PAMPs look fake. You don't buy off ebay, do you?
(assuming this is a legit photo, user, which it probably isn't)

Economic growth requires more goods to be produced.
More goods needs more money to keep prices as is.
More money needs more gold to back.

Where do we go now?

all your gold is us gold

we own the planet

Well, good thing there are no more fucking gold mountains then.

Buy Bitcoin

>Economic growth requires more goods to be produced.
>More goods needs more money to keep prices as is.
>More money needs more gold to back.

You do realize if there was a shortage of money that prices would just fall? Like fuck, the only benefit of a constantly expanding money supply is that it inflates away debt.

OP, good points. But there is a difference between the gold backed treasury certificates that used to be issued in the USA and Federal Reserve notes. Gold certificate notes can be redeemed for physical gold. So it doesn't necessarily represent debt like the (((federal reserve)))

300 billion dollars when the gold standard was aromas worth a lot more than 300 billion dollars today

You do realize that when prices fall , the revenue of firms falls too?

Literally says that on the pound note you dumb idiot

It's an appetizer platter and a large order of steak fries thrown in a pizza box.
You could probably get this any number of places.

>hurr bank notes are not promises to pay

The appeal of Gold, Silver, or any other physical currency is that it can't be easily produced, and that it's rare enough that very small amounts of it are very valuable.
The problem with Fiat currency, is that somebody on a whim can decide to print more of it, which ultimately dilutes the value of what you have.
Until somebody discovers alchemy, Gold is not subject to the same problem.

Do you realize op that an amount of gold, the size of a credit card, 50 grams. Is worth roughly $2000?
Bringing your entire fortune on a plane can be done with gold, if you're working class, difficult but possible, just need to divvy it up among family members (1kg is worth roughly $40 000 and the density is something like 13 times that of water meaning a kilo of gold takes 1/13 litre space)

Besides there is no need now since you have banks that could carry gold for you as an investment currency. Goldmoney for instance.

Look, gold gets its value from the effort of extracting another amount of it. New paper currencies and cryptocurrencies can be created to replace the current ones but good luck creating another gold.

You're right. LONG LIVE THE ROTHSCHILDS! Can one Jewish family be more based? I think not!

What will they pay me in?

A promise, specifically a promise to pay.

Something which is worth 5 pounds at the day of payment.

Apparently they would pay me with another note or notes of equal promise.

Suddenly I am not so interested in promises.

Spain only became so powerful BECAUSE of the gold it accumulated (lots came from the new world), and when it lost the gold it collapsed.