Quote from: BobK71 on April 26, 2017, 12:29:03 PM

Quote from: deisik on April 25, 2017, 04:46:35 PM

You are as dishonest as always

If so, I have good competition!

BTW, last time I checked, you have yet to answer my response to your charge that I was somehow dishonest (because I dealt with monetary issues you don't seem to understand,) and you have yet to provide the explanation I requested about key features of the gold standard, to prove you have a basic understanding of money

Could you post a link, I might have missed that post of yours

Quote from: BobK71 on April 26, 2017, 12:29:03 PM

Quote from: deisik on April 25, 2017, 04:46:35 PM

At first you started talking about the money issued by the state (otherwise known as fiat) and then, all of a sudden, you switched to gold and gold standard. Gold as money is not issued by the state, period. Other than that, yes, the state monopolized fiat money (or soft currency if you are going to pick on the word fiat) since it had monopoly on the means of communication. Privately issued money (or publicly if it is beyond the state's control as Bitcoin) without the capacity of transferring value over distance is set to lose to any fiat currency which doesn't get abused too much

The gold standard was never about gold. It was about protecting the stability of state-issued paper money. The system has been, and will always be, focused on protecting the power and wealth of the state-bank alliance among the elites. That is, until the people wake up

As I said, this is inconsequential to the matter in question

In other words, it is no use sidestepping this issue. Forget about gold at last, it won't help you. We are talking about present day, and till recently governments had monopoly on money issuance since they controlled means of communication via which value can be transferred. As I also said, private money in the form of cash (i.e. which relies only on hand-to-hand transactions) is devastatingly useless. And with the Internet arising from obscure military labs, the state lost its monopoly on global means of communication and thus lost its monopoly on money (obviously, they couldn't foresee that). Money, conceptually, is all about transferring value, and in today's world transferring value means transferring it instantly and to every corner of the world. Anything which aims to become money but doesn't offer the possibility of such transfers is set to fail miserably