Comments on: The History of the Gold Standard: 25 Great Web Sites to Research Its Rise and Fall http://bankling.com/2009/the-history-of-the-gold-standard-25-great-web-sites-to-research-its-rise-and-fall/ Finance Tips, Savings Calculators, Highest CD Rates and More Tue, 10 Nov 2009 18:55:39 -0800 http://wordpress.org/?v=2.8.6 hourly 1 By: R.Jacob Post http://bankling.com/2009/the-history-of-the-gold-standard-25-great-web-sites-to-research-its-rise-and-fall/#comment-42 R.Jacob Post Thu, 12 Mar 2009 01:24:23 +0000 http://bankling.com/?p=285#comment-42 With your permission, I will put a link on my site for people to gain knowledge on world events based on the valuable information you have given us. With your permission, I will put a link on my site for people to gain knowledge on world events based on the valuable information you have given us.

]]> By: Mark Herpel http://bankling.com/2009/the-history-of-the-gold-standard-25-great-web-sites-to-research-its-rise-and-fall/#comment-40 Mark Herpel Wed, 11 Mar 2009 17:25:14 +0000 http://bankling.com/?p=285#comment-40 <a href="http://www.dgcmagazine.com" rel="nofollow">Digital Gold Currency</a> is used around the globe today. Private companies vaulting the physical bullion and issuing digital units. It could be argued that digital gold is much safer than fiat currency and not subject to inflation. Mark Skype 'digitalcurrency' Digital Gold Currency is used around the globe today. Private companies vaulting the physical bullion and issuing digital units. It could be argued that digital gold is much safer than fiat currency and not subject to inflation.

Mark
Skype ‘digitalcurrency’

]]> By: Pete http://bankling.com/2009/the-history-of-the-gold-standard-25-great-web-sites-to-research-its-rise-and-fall/#comment-39 Pete Wed, 11 Mar 2009 13:06:16 +0000 http://bankling.com/?p=285#comment-39 Problem with using food (even grain which is stable) is that supply is highly volatile. The key characteristics of good money is that it is fungible, the supply very stable and universally acknowledged as being of value. Gold clearly meets the first two characteristics and most will agree to the third. Ask people if they want coin with $10 worth of gold in it or a ten dollar bill, they will almost always go for the coin. Ask them if they want a $10 bill or X pounds of grain, odds are they will go for the bill (right or wrong). Extending that thought, I am not sure that I want companies like Archer Daniels Midland to have the ability to tamper with the value of currency. Paradoxically, another desirable characteristic of money is that it has little market utility outside of money. Again, aside from jewelry and some industrial consumption, gold meets this need. Money should, ideally, be relatively independent of ephemeral scarcities in the market place. Once introduced, it shouldn't be tampered with (that is my opinion, others will disagree). Problem with using food (even grain which is stable) is that supply is highly volatile. The key characteristics of good money is that it is fungible, the supply very stable and universally acknowledged as being of value. Gold clearly meets the first two characteristics and most will agree to the third. Ask people if they want coin with $10 worth of gold in it or a ten dollar bill, they will almost always go for the coin. Ask them if they want a $10 bill or X pounds of grain, odds are they will go for the bill (right or wrong).

Extending that thought, I am not sure that I want companies like Archer Daniels Midland to have the ability to tamper with the value of currency.

Paradoxically, another desirable characteristic of money is that it has little market utility outside of money. Again, aside from jewelry and some industrial consumption, gold meets this need. Money should, ideally, be relatively independent of ephemeral scarcities in the market place. Once introduced, it shouldn’t be tampered with (that is my opinion, others will disagree).

]]> By: Joe D. http://bankling.com/2009/the-history-of-the-gold-standard-25-great-web-sites-to-research-its-rise-and-fall/#comment-37 Joe D. Tue, 10 Mar 2009 23:46:10 +0000 http://bankling.com/?p=285#comment-37 <strong>Using gold as currency was one of the longest running scams in the world.</strong> Gold does not have inherent value/energy, so one more exchange is necessary to realize value and exchange value has to be negotiated during each transaction, so it cannot act as store of value nor is it a standard. At times of resource scarcities like famine the exchange value of gold goes down drastically, hence using gold as currency is perfect tool for market manipulation. To understand it further we need to compare gold with food grains. 1 kg of wheat/rice, has usable energy that will sustain human life one more exchange is not required to realize value. The value of 1 kg wheat/rice to human beings has not changed ever since humans started eating wheat/rice, hence it is a standard with fixed exchange value. Food grains like wheat/rice can be stored for 20 years and can act as store of value. Hence food grains are perfect currency. Using gold as currency was one of the longest running scams in the world.

Gold does not have inherent value/energy, so one more exchange is necessary to realize value and exchange value has to be negotiated during each transaction, so it cannot act as store of value nor is it a standard. At times of resource scarcities like famine the exchange value of gold goes down drastically, hence using gold as currency is perfect tool for market manipulation.

To understand it further we need to compare gold with food grains. 1 kg of wheat/rice, has usable energy that will sustain human life one more exchange is not required to realize value. The value of 1 kg wheat/rice to human beings has not changed ever since humans started eating wheat/rice, hence it is a standard with fixed exchange value. Food grains like wheat/rice can be stored for 20 years and can act as store of value. Hence food grains are perfect currency.

]]> By: Hal http://bankling.com/2009/the-history-of-the-gold-standard-25-great-web-sites-to-research-its-rise-and-fall/#comment-36 Hal Tue, 10 Mar 2009 14:49:50 +0000 http://bankling.com/?p=285#comment-36 Wow. Great collections of links. Thanks for this. I just bookmarked your page. I started to follow both the gold and silver markets and track their daily moves with the free widget <a href="http://www.learcapital.com/exactprice" rel="nofollow">ExactPrice</a> several months ago now with an eye on what's going in the global economic markets and currencies. So I'm glad to have found you and all your research you did. Wow. Great collections of links. Thanks for this. I just bookmarked your page.

I started to follow both the gold and silver markets and track their daily moves with the free widget ExactPrice several months ago now with an eye on what’s going in the global economic markets and currencies. So I’m glad to have found you and all your research you did.

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