Reality vs Adventure Posted November 11, 2021 Share Posted November 11, 2021 Central bankers are careless when it comes to printing money compared to the actual amount of gold in banks. If everyone cashed out their dollars at the same time, there would not be enough gold to claim. So the value of paper currency is almost nothing, and they keep printing it and printing it. The value of paper currency would be a lot stronger if every dollar had gold to match it. But what would be some problems with the gold standard? And which is worse, not having enough gold to back the paper currency or decreasing the print to match the gold? Link to comment Share on other sites More sharing options...
The Blackangel Posted November 11, 2021 Share Posted November 11, 2021 Gold certificates haven't been used since the Lindbergh baby was kidnapped. Roosevelt issued an order that all Gold certificates still in circulation had to be turned in, in exchange for a federal reserve note. They thought that would be a better way to catch the kidnapper. All that aside, they printed silver certificates after that for a couple decades. Those held their value fairly well, as they were backed by silver. The federal reserve note that we use today, isn't really backed by anything, which is why it's continuing to steadily lose its value. Most countries won't even accept the American dollar, simply because of how worthless it is. It's (in all fact) one of the least valuable currencies in the world. The US has a large stockpile of precious metals like gold, silver, palladium, platinum and others. just knock on the door at Fort Knox. But the government is hoarding it instead of using it for the country. They have been for 200 years. I wear 2 rings that are white gold. Very simple bands, one that I had my birthstone mounted on. Together, they might be worth $50. And that's if I'm lucky, or find someone completely stupid. It's a reason I invest in silver. I'm collecting silver rounds and silver bars as we speak. I would invest in gold, but it's just way too far out of my price range. So despite being deathly allergic to is, I buy silver. As long as I don't touch it, I'm fine. Link to comment Share on other sites More sharing options...
Head_Hunter Posted November 11, 2021 Share Posted November 11, 2021 Very important information you've posted here. I think the currencies should be made Gold, to keep it brand new without looking weird with time. Paper money can be destroyed easily, but Gold money can stay for long without being condemned. Link to comment Share on other sites More sharing options...
The Blackangel Posted November 11, 2021 Share Posted November 11, 2021 I have for a very long time honestly preferred coin to paper. If I need money I always take out a roll of dollar coins from the bank instead of hitting the ATM for a $20 bill. Unless I need cash and the bank is closed. But preferably, I would like to see the US do away with paper money and move entirely to coin. But that's the fantastical dream of a madwoman. Link to comment Share on other sites More sharing options...
Head_Hunter Posted November 11, 2021 Share Posted November 11, 2021 3 hours ago, The Blackangel said: I have for a very long time honestly preferred coin to paper. If I need money I always take out a roll of dollar coins from the bank instead of hitting the ATM for a $20 bill. Unless I need cash and the bank is closed. But preferably, I would like to see the US do away with paper money and move entirely to coin. But that's the fantastical dream of a madwoman. Do you that cryptocurrency is enough to delegate or sideline paper money long time. I believe you know about the popular 'encrypted coin? That's where I store majority not my treasury asset. Link to comment Share on other sites More sharing options...
The Blackangel Posted November 12, 2021 Share Posted November 12, 2021 (edited) At the moment I'm typing this, and I'm using USD, Bitcoin is worth $69,100 per coin. $100 is 0.0016 Bitcoin. Cryptocurrency is more of a pain in the ass to me than anything else. Also I don't trust it. I can't put my finger on exactly why at the moment, but my gut just tells me "don't go there." Edited November 12, 2021 by The Blackangel Link to comment Share on other sites More sharing options...
Rain Dew Posted November 13, 2021 Share Posted November 13, 2021 Taking this literally if we only used gold or coin instead of paper money then at some point it would become to heavy to carry around. So if you needed like $1000 then having to carry $1000 in gold coin would become very heavy. In the end it’s better to have paper money than gold. Link to comment Share on other sites More sharing options...
Head_Hunter Posted November 13, 2021 Share Posted November 13, 2021 On 11/12/2021 at 12:27 PM, The Blackangel said: At the moment I'm typing this, and I'm using USD, Bitcoin is worth $69,100 per coin. $100 is 0.0016 Bitcoin. Cryptocurrency is more of a pain in the ass to me than anything else. Also I don't trust it. I can't put my finger on exactly why at the moment, but my gut just tells me "don't go there." It doesn't necessarily mean you buy BTC, you can simply go for stable coins since you aren't trusting the nature of the other volatile coins. Their are stable coins like USDT, USD coin, BUSD, which are equivalent to USD fiat currency, it doesn't change in value easily unless USD fiat currency do otherwise. Link to comment Share on other sites More sharing options...
