Are we bankrupt as a country?

[patb]

[quote=walterwhite]all monetary units are social constructs.

gold is the only monetary unit that will never completely fail.

all other money will someday not exist.

oil and wheat aren’t money. theya re stuff you buy with money.

gold is beautiful and humans love beauty.[/quote]

Gold is garbage, and Humans love Garbage.

Gold is no more valuable then any other material.
Suppose a large gold strike is made. Gold becomes worthless.

[Zeitgeist]

I think gold derivatives are very vulnerable because they are over sold.

[Zeitgeist]

I think gold derivatives are very vulnerable because they are over sold.

[Zeitgeist]

I think gold derivatives are very vulnerable because they are over sold.

[Zeitgeist]

I think gold derivatives are very vulnerable because they are over sold.

[Zeitgeist]

I think gold derivatives are very vulnerable because they are over sold.

[scaredyclassic]

Seems more likely there will be twice as many dollars in the next five years than twice as much gold. In fact it seems a proposition worth betting on. Of course there will also be twice as much garbage

[scaredyclassic]

Seems more likely there will be twice as many dollars in the next five years than twice as much gold. In fact it seems a proposition worth betting on. Of course there will also be twice as much garbage

[scaredyclassic]

Seems more likely there will be twice as many dollars in the next five years than twice as much gold. In fact it seems a proposition worth betting on. Of course there will also be twice as much garbage

[scaredyclassic]

Seems more likely there will be twice as many dollars in the next five years than twice as much gold. In fact it seems a proposition worth betting on. Of course there will also be twice as much garbage

[scaredyclassic]

Seems more likely there will be twice as many dollars in the next five years than twice as much gold. In fact it seems a proposition worth betting on. Of course there will also be twice as much garbage

[Eugene]

[quote=AK]You alarmist fool, the U.S. dollar is backed by … um … I dunno, Treasury bonds or something?[/quote]

It is backed by the ability of the U.S. economy to output goods and services, and by the ability of the federal government to tax such output.

One dollar is approximately equal to the one fifteen trillionth of the total annual output of the economy.

In this sense, it has a lot more intrinsic value than an equally priced quantity of gold. One U.S. dollar will buy you half a gallon of milk. (Because it takes one fifteen trillionth of the annual economic output to produce, package, and deliver that amount of milk.) You can’t eat or drink gold. Gold mostly has value as a social construct, because people agree to consider it valuable.

[Eugene]

[quote=AK]You alarmist fool, the U.S. dollar is backed by … um … I dunno, Treasury bonds or something?[/quote]

It is backed by the ability of the U.S. economy to output goods and services, and by the ability of the federal government to tax such output.

One dollar is approximately equal to the one fifteen trillionth of the total annual output of the economy.

In this sense, it has a lot more intrinsic value than an equally priced quantity of gold. One U.S. dollar will buy you half a gallon of milk. (Because it takes one fifteen trillionth of the annual economic output to produce, package, and deliver that amount of milk.) You can’t eat or drink gold. Gold mostly has value as a social construct, because people agree to consider it valuable.

[Eugene]

[quote=AK]You alarmist fool, the U.S. dollar is backed by … um … I dunno, Treasury bonds or something?[/quote]

It is backed by the ability of the U.S. economy to output goods and services, and by the ability of the federal government to tax such output.

One dollar is approximately equal to the one fifteen trillionth of the total annual output of the economy.

In this sense, it has a lot more intrinsic value than an equally priced quantity of gold. One U.S. dollar will buy you half a gallon of milk. (Because it takes one fifteen trillionth of the annual economic output to produce, package, and deliver that amount of milk.) You can’t eat or drink gold. Gold mostly has value as a social construct, because people agree to consider it valuable.

[Eugene]

[quote=AK]You alarmist fool, the U.S. dollar is backed by … um … I dunno, Treasury bonds or something?[/quote]

It is backed by the ability of the U.S. economy to output goods and services, and by the ability of the federal government to tax such output.

One dollar is approximately equal to the one fifteen trillionth of the total annual output of the economy.

In this sense, it has a lot more intrinsic value than an equally priced quantity of gold. One U.S. dollar will buy you half a gallon of milk. (Because it takes one fifteen trillionth of the annual economic output to produce, package, and deliver that amount of milk.) You can’t eat or drink gold. Gold mostly has value as a social construct, because people agree to consider it valuable.

[Author]

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