Warm and fuzzy feeling.
gecko109
Posts: 8,231 ✭
I love the fact that a government cant print gold or silver bars. It makes me feel so warm and fuzzy inside.
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No danger there, is there?
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The Time, Materials, Energy, and Human Effort that go into mining and refining the metal from rocky ore is Stored in the metal bar for exchange later, for a different product of Human Effort.
Or, the metal in the bar itself can be used as a raw material and combined with work and other materials to produce another product of value-added human effort that are considered useful and/or otherwise desirable.
Of course, for Practial Purposes, a government-backed currency, even a fiat one, is more flexible than a strict barter for all levels of financial transaction beyond the local, micro, one-on-one trade that a piece of metal makes possible.
Walk around town and offer random people their choice of a free $20 bill or ASE, or Ten $100 bils or an AGE, and tally the results.
Liberty: Parent of Science & Industry
<< <i>That's right, Gold and Silver Bars must be mined and refined to be produced; they don't simply "appear"
The Time, Materials, Energy, and Human Effort that go into mining and refining the metal from rocky ore is Stored in the metal bar for exchange later, for a different product of Human Effort.
Or, the metal in the bar itself can be used as a raw material and combined with work and other materials to produce another product of value-added human effort that are considered useful and/or otherwise desirable.
Of course, for Practial Purposes, a government-backed currency, even a fiat one, is more flexible than a strict barter for all levels of financial transaction beyond the local, micro, one-on-one trade that a piece of metal makes possible.
Walk around town and offer random people their choice of a free $20 bill or ASE, or Ten $100 bils or an AGE, and tally the results.
Im almost positive that if given the choice.....most random people would take an ASE over a $20 bill. However, im not willing to fund such an expensive experiment by myself! If I could get 20 people from this forum to each pony up 1 ASE and 1 $20 bill, I would be happy to run a video taped experiment in downtown Chicago. Who wants in?
Whew, I thought for a second Bear crawled in bed with you.....MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Fred, Las Vegas, NV
let's leave it as a thought experiment for now.
Although, in years past, I've given out ASEs annually to everyone in my company (over 100 people) and NO ONE knew what they were, how much they were worth, had seen the walking liberty design, NOTHING. And these are almost all US college graduates, a third of them have MDs or PhDs.
Liberty: Parent of Science & Industry
<< <i>Im almost positive that if given the choice.....most random people would take an ASE over a $20 bill. However, im not willing to fund such an expensive experiment by myself! If I could get 20 people from this forum to each pony up 1 ASE and 1 $20 bill, I would be happy to run a video taped experiment in downtown Chicago. Who wants in?
let's leave it as a thought experiment for now.
Although, in years past, I've given out ASEs annually to everyone in my company (over 100 people) and NO ONE knew what they were, how much they were worth, had seen the walking liberty design, NOTHING. And these are almost all US college graduates, a third of them have MDs or PhDs. >>
I would think that most people would take the $20 bill over the ASE. This actually makes me more bullish on PM prices. When everyone finally does jump on the PM bandwagon(at prices much higher than today's prices) then it's time to sell. When you turn on the TV and see the talking heads on CNBC telling you to buy gold, and you see shows called "Flip This Gold" then it's time to sell because everyone will already own silver and gold. Right now people who own PMs are a tiny minority viewed as "odd" by the majority.