Thanks for taking the time to reply. However, I still don’t “get it”. Wages have gone up, along with prices. So we are not worse off than our ancestors. Actually, we are better off, since we have heating, a/c, running water, access to health care (even if it’s only the ER), and most people have a car and TV. These items were luxuries that not even kings and queens could have. Only a thousand years ago, people spent their days just eking out survival. So we are much better off, and we had to go off gold, because there isn’t enough of it to be used as a medium of exchange. As population increased, and we needed more gold to continue exchanging, there was no more gold available; voila: paper money.
I don’t trust the government on everything either, but buying gold doesn’t seem to improve my personal financial situation; rather, it puts it at risk.
And just because our ancestors did it, doesn’t make it better. That argument doesn’t serve to sway me.
If you have any reason to think that someday everyone will accept gold as payment, let me hear it. What would have to transpire for my landlord/grocer/electric company/IRS to accept gold as payment?
I don’t want to read Jekyll Island. I’d rather just have you tell me how you see that gold could ever become a medium of exchange.
