Quote from: Atlas on July 20, 2011, 01:43:45 AM

Quote from: Piper67 on July 19, 2011, 03:56:05 PM

Quote from: 2weiX on July 19, 2011, 02:47:13 PM

Quote from: onesalt on July 19, 2011, 02:03:04 PM

Quote from: Atlas on July 19, 2011, 05:30:19 AM

Quote from: KenJackson on July 19, 2011, 04:14:36 AM

Can someone explain to me what Ron Paul's point was?

I just looked up some definitions of money, and "generally accepted medium of financial exchange" seems to be a key part of the definitions.

All sides agree that gold has value, and stable value at that. But is it money?
Will the grocery store or car dealer generally accept a chunk of gold as payment for goods?

If I owned a grocery store or care dealership, I would be very upset if my salesmen didn't accept payment in Gold. It has always held its value better than toilet paper poo poo money. That is reason enough to take it over fiat.

Would you still be singing this tune when you are unable to unload your gold to anyone, resulting in your company going bust because everything that the company needs to run is paid for in dollars?

you will not EVER be unable to unload your gold. you will more likely be unable to get someone to take your dollars, even if you put some in there somewhere^^

Yup... have you ever tried offloading those Zimbabwean dollars on the streets of London or New York? Want to place a bet on whether you can get rid of those faster than I can trade gold for any kind of cash? No? Thought so...

There's something called a gold/silver bullion store and they offload very easily including ones in major cities.

Offload it for what? Cash? If you have to take your money to a special store to exchange it for cash, it's hardly money.