Quote from: leopard2 on March 05, 2014, 05:27:23 PM

Quote from: genco on March 05, 2014, 04:59:28 PM

US isn't on gold standard, so this is not relevant. So what if gold goes down in value.

You don't understand anything. Central banks are afraid of gold, that is why the price is manipulated, if they print too much money gold goes up and people become afraid. It is like an indicator, a canary in the coal mine.

If gold has no value anymore, if no rare elements exist anymore, this will be a game changer because commodity money will be history, forever. The concept of intrinsic value will be gone.

Fiat has got no value, but in the future there will be no other form of real money (gold, silver etc.) with intrinsic value either, so the only alternative to fiat money, is crypto currency. No intrinsic value, but cannot be created from thin air at least.

This is a nonsense reply, so I wonder if I should waste time trying to figure out how you can state in one breath that fiat has no value, and that gold is "real money" but wait a sec, it's really just an indicator...dude: if gold goes down in price that doesn't mean everything goes down in price. But crazier still is how you accept a crypt currency can have value based on demand, but somehow that same convention just can't apply to fiat currency