Quote from: hazek on July 14, 2011, 01:54:53 PM

Quote from: Giraffe.BC on July 14, 2011, 12:57:31 AM

So....what's wrong with saying gold isn't money? Gold isn't money. People don't exchange it for goods and services, people buy it (with actual money) and hold onto it. Just like other assets, e.g. silver, oil, buildings, paintings, etc.

I know goldbugs love bashing the Fed, but this is just silly.

Have you been to Utah recently? Gold is money.. and has been for the last 6000 years of our history, and somehow you know better?

What is money:
http://www.goldfreak.com/images/exter%20gold%20pyramid.png

I love when I go out to eat and pay the bill with a small piece of real estate, maybe tip an extra square foot section of a flag lot in Modesto if the service was good. Or that time I went to the movies and paid the ticket guy with a couple of MUNI bonds. Yes, it's all money. Everything is money. Dogs, pogo sticks, that full feeling after you eat a whole pie: money.

And the fact that Utah has a goldbug-pandering state legislature doesn't change anything. States have no rights to issue currency. The bill simply said the state would recognize federally-issued gold and silver coins as legal tender. Whoop-dee-fucking-do. Walk into any store in Utah and try to pay for something with that Genuine Buffalo Head Gold Coin you bought from the late night TV infomercial. Let us know how that works out for you.