GOLD 0.51% $1,391.7 gold futures

is gold money ?, page-51

  1. 1,635 Posts.
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    Ok, I have heard that money is energy, Utah accepts gold as currency (does this mean you can pay Utah state taxes in ounces and, if so, how many ounces does each citizen need to pay?) , India is doing some dodgy deal with Iran to get around sanctions.

    All of the above sound like exceptions to the rule, an unusual or unique definition and quite impractical. For example I am willing to bet that the Indian Govt (if it indeed does use gold for the transaction) will use a currency based calc to determine how much gold to swap for oil)

    theendgame, your example doesn't make any sense. Are you suggesting that money is anything that you know the current value of (in currency). You may have found one mercedes owner willing to sell in exchange for gold but did he quote a price in ounces or AUD? Did every Mercedes seller allow you to buy with a piece of gold? These are extremely important questions to answer when thing about money.

    There is a whole lot of twisting and turning and viewing the world through a strange set of definitions to make gold money. It is tough to convince gold is money because it isn't true.

 
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