Paper money
June 3, 2009 at 5:55 pm
(This post was last modified: June 3, 2009 at 6:11 pm by etogre.)
I recently was reading in the local paper about how paper money is the cause of all our economic problems. The author said that the constitution forefathers foresaw this problem and thus only granted the rights for coined money (I don't remember this clause). Even paper money backed by gold and silver wouldn't have been approved by the forefathers.
This whole argument to me is stupid. I don't see the value in gold and silver. They're completely superficial elements with no value except that within the eye of the beholder. They cannot give you sustenance in any way.
What's the obsession with gold and silver? For most intents and purposes, they're literally worthless elements, besides looking pretty. I realize silver is the most conductive metal, but we don't even use it for that purpose. Plus, if you're using these metals as coins, or to sit in Fort Knox collecting dust, they're not serving any practical use whatsoever anyways. Backing money with worthless metals doesn't make the money more secure, because it's the same exact faith as believing in paper money being secure. Why is humanity so stupid to not realize this?
Silicon has infinitely more use and real value than gold.
You know the saying "It's worth whatever value someone will pay you for it". So why does our society value these metals?
Am I missing something?
This whole argument to me is stupid. I don't see the value in gold and silver. They're completely superficial elements with no value except that within the eye of the beholder. They cannot give you sustenance in any way.
What's the obsession with gold and silver? For most intents and purposes, they're literally worthless elements, besides looking pretty. I realize silver is the most conductive metal, but we don't even use it for that purpose. Plus, if you're using these metals as coins, or to sit in Fort Knox collecting dust, they're not serving any practical use whatsoever anyways. Backing money with worthless metals doesn't make the money more secure, because it's the same exact faith as believing in paper money being secure. Why is humanity so stupid to not realize this?
Silicon has infinitely more use and real value than gold.
You know the saying "It's worth whatever value someone will pay you for it". So why does our society value these metals?
Am I missing something?
