oh ye of little faith, page-17

Hi chicklittle,
It appears you are a Joolya (aka the Seagull) fan too?
Gold and silver used to be money. A sovereign coin, exchangeable for a paper one pound note contained 0.2354 oz of gold. One pound equates to $2 since we went decimal in 1966, however our $2 coin has no gold or silver in it, and the purchasing power is way less than a sovereign coin.
One Aussie Dollar will buy only 0.000701702 ounces of gold at the moment. That is economic progress for you. Inflation confiscates your savings, and money printing transfers debt to your grand children, so current government may spend wastefully to buy votes!
Shakespeare said in one of his plays "First lets kill all the Lawyers!" Id Bill Waggledagger was alive today, perhaps he'd be writing instead "First lets kill all the Economists"
DYOR
K