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

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

Quote from: jimbobway on July 13, 2011, 09:37:24 PM

If the Fed says gold is an asset, then are bitcoins an asset?

http://blogs.forbes.com/afontevecchia/2011/07/13/bernanke-fights-ron-paul-in-congress-golds-not-money/

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?

I shouldn't jump into something like this, but I'm totally perplexed by your last post here.

I was in Utah last year. I'm not sure if that qualifies as "recently" in your context since I don't have any idea what your context is. Have they started paying for goods & services with gold coins there? We used greenbacks when I was there. Are they mining for gold? How does Utah relate?
I'd suggest that there's universal agreement that gold has been held as an object of value fjor one reason or another for the last 6000 (or some number of) years, but I don't see how that makes it "money" today.
Finally, I have no idea of the point of your chart. I see that it's got a rainbow of colors and is triangular, is this a gay thing?
These are all honest questions, I'm not trying to challenge anything (although I don't believe that "gold is money").

detroit

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