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What is worth more 24 karat Gold or 14 karat Gold?
Lets say you had me hold on to your 24 karat gold necklace. Then lets say I melt it down and save only a portion of it. I use that small portion to mix it with other metals to give you back your necklace. But this time its a 14 karat gold necklace.
I (Government) get to keep the rest of the gold. Did I rip you off?
Now you have no excuses cause now you know how the monetary system works. That is why the price of everything keeps going up. Well more like the price of everything stays the same but your dollar like the 14 karat gold is worth a lot less.
See if you dollar (receipt) was based on the gold standard. You can bring it back and say. Hey I had you hold on to a 24 karat necklace not a 14 karat necklace. Now you know why I support Ron Paul.
@mommanuke- The world just added another 500 billion people. So now we have another half a trillion people to supply more demand for my gold and the gold the Africans found. So I say the value would remain the same. Cause there is now more demand and not enough supply to feed that demand.
6 Answers
- 9 years agoFavorite Answer
mommanuk
Id rather have someone digging up 500 tons of gold, instead of some shady men in some in a dark room deciding to print billions in a single year.
Gold is limited. its quantity can only change so much because it is not infinite.
Paper is worthless and dwarfs the amount of gold in existance
Edit to your edit: Do you not know what a free market is? Youre saying having an artificial market is better than one based off of supply and demand
- mommanukeLv 79 years ago
Meanwhile, instead of being held hostage by the OPEC countries, we would be held hostage by South Africans. If you kept the 24 karat necklace and somebody dug up 2 tons of gold overnight, what would your necklace be worth then?
Edit: Those 500 million people would not be added overnight. The gold would be. The only way for things to work as you imagine them would be to freeze the value of gold. Otherwise, your wealth would be subject to the fluctuations of the market. The value of gold has risen due to created fears about fiat money. If gold were the only money, it would be valued by supply, and with that driving it, there would be a whole lot more mining! You also fail to consider the fact that a large chunk of the world's population is totally divorced from the entire monetary system, gold or fiat. That means as more of them are brought into the market by development, the value of your gold would drop. So it would be in your best interest to see to it that they stay where they are, rather than improving their lives.
Edit 2: Whoops, sorry. That last part is wrong. The gold would be worth more.
- ?Lv 79 years ago
Ummmmm...
In ten years from now a Wheel borrow of Gold won't buy one carrot from a Father of a starving American child....
That will be the Reality of what an Anarchy Depression© will bring to America in a decade...
† FNS †
- Anonymous9 years ago
In 1965 a brand new Buick cost $3500.
That's how much buying power the dollar has lost since then.
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- Anonymous9 years ago
Indeed, sir. The Fed creates poverty by transferring wealth upward.