Paul wrote:good to see you here blondie,Blondie wrote:Gold is measured by weight.bailouts4ever wrote:Dear members of this forum,
I think I got my head around the concept of freegold. Yet, what remains open is:
If Gold gets demonetized, how is the stored wealth then valued?
Until now we could fiat wealth in numeric quantitative terms a.k.a. "I have 1,000 US$". In what way would gold then be denominated?
Gold is not denominated in currency, rather currency is denominated in gold.
You can still quote wealth (stored value), but you quote it in weight in gold rather than currency units, eg "I have 5oz gold".
have learned a lot of your thoughts in the past, and always enjoy reading them.
that said, I do not agree with you here (anymore) ...
weight does not give any information about te value of the gold.
the value of gold is, like with currency, just a matter of perception.
value is not a constant, there can never be a tangible univeral proxy for value.
to use gold for that will do injustice to the cyclic nature of markets ...
gold should be just a hedge against mismanagement of government. nothing more.
Just a hedge against mismanagement of government? Nothing more? Hard to grasp this Paul?
So the Saudi's are/were accepting Gold besides $'s just because it's a hedge against government?
I must say i appreciate the clarity you try to give about this subject, and the discussion about the 1 unit of account worldwide, but to state it simple........I Just don't get it? And how is it possible for something to work out, when nobody is understanding it?
Let's pretend we are not the rest of the world, but a very,very small group of people interested in the monetaire system and problems it brings with it. After months of talking, explaining and talking again........you have convinced probably 1 person of your thoughts. How is the rest of the world this going to understand??? The more i reed the more i get confused.
This is opposite of the understandings of Freegold. The more we learn, the clearer it gets, a must in my opinion.