RE: New Testament arguments
March 23, 2015 at 1:47 pm
(This post was last modified: March 23, 2015 at 1:50 pm by Huggy Bear.)
(March 23, 2015 at 10:23 am)Cato Wrote: This shows you have no idea what you're talking about. If a law was enacted tomorrow making gold our currency guess what happens? That's right, gold would then be our fiat currency. I'm willing to bet you get your economic information from the doom and gloom global catastrophe prognosticating gold peddlers on the radio sandwiched between the buckets of food storage and fallout bunker concrete salesman.What?
Anybody using 'fiat money' as a pejorative are either ignorant like yourself or are intentionally scaring gullible preppers into buying their gold. What is your plan to manage the deflationary crash that would occur if we adopted a gold standard tomorrow? If you don't know what I'm talking about then you are woefully unprepared to have this conversation.
I couldn't help but notice you didn't wan't to take me up on my offer to buy your near worthless dollars.
The desperation of you guys taking issue with EVERYTHING I say is ridiculous. Here's the thing, you have access to the internet and can do a little research before you say something ignorant, but no, it's like your fingers have tourettes and can't wait to type something silly, But I'M the troll for exposing you guys.
Gold cannot be "fiat currency" because it is a commodity.
http://en.wikipedia.org/wiki/Fiat_money
Quote:Fiat money is currency which derives its value from government regulation or law. The term derives from the Latin fiat ("let it be done", "it shall be"). It differs from commodity money and representative money. Commodity money is based on a good, often a precious metal such as gold or silver, which has uses other than as a medium of exchange, while representative money is a claim on the commodity rather than the actual good.http://www.investopedia.com/terms/f/fiatmoney.asp
Quote:DEFINITION of 'Fiat Money'
Currency that a government has declared to be legal tender, but is not backed by a physical commodity. The value of fiat money is derived from the relationship between supply and demand rather than the value of the material that the money is made of. Historically, most currencies were based on physical commodities such as gold or silver, but fiat money is based solely on faith. Fiat is the Latin word for "it shall be".