again all your examples are irrelevant as they are not accepted as currency in general circulation and wont be. and there was once a gold standard we wont go back to the past and bring it back, it is too impractical in this day and age, where they are trying to REMOVE circulating currency. I am so certain of this, if you disagree care to take my bet above?
Fiat is fine for transactions and as a unit of account but it is not a fantastic store of wealth. At any time the government can revalue the money (e.g. Belarus) or decide to switch to something else (Eurozone, Amero). At the moment people are happy to use fiat as a store of wealth because it seems to work quite nicely, you put it in a bank and not only is the wealth stored but it is actually going up. However we haven't suffered the bank bail-ins of the cypriots, we haven't suffered massive hyperinflation such as most of Latin America, we haven't been invaded by a foreign country and had our money replaced. We are pretty complacent, we don't even care how our banks work or who is running them, we just give them our entire wages and life savings without a second thought. People I work with still find it amazing that until recently money used to be made out of something as expensive as silver. The idea that it had actual value rather than a nominal value makes no difference when buying a pint of milk, $2 worth of silver or a lump of brass with $2 stamped on it both buy you the same amount. Within our own area that works nicely but we don't want to accept a bit of brass with $2 stamped on it from New Zealand in exchange for milk. Because we know that it isn't really worth $2 unless you happen to be in New Zealand, or you have a lot of faith that someone else will accept it at face value. A currency with intrinsic value would be much handier for international trades, at the moment people are using the US dollar but they are starting to discuss whether this is the best option.
It is a very tempting offer. However, prior to someone taking up this wager, who will hold the 2 x 1000 oz of AG in the meantime? May I suggest GoldStackers, provided they agree to it?
Well this will be interesting. Personally I think CJ talks a lot of shit and won't actually go through with it... but it'd be interesting to see how much that 1000oz is worth in 10 years.
Same as it is today <--------------------------------------------------------- SIDEWAYS --------------------------------------------------------->
Russia can also do one more thing to Europe.. turn off the Gas.. you watch what happens if russia turn's off the gas in europe.. everyone in europe will be crying like big babys
I call that bullshit. I bet you 1000 oz that american dollars will collapse in the next 10 years.. you would agree why would you bet right? well if I said that to you in the 80's you'd be like "NAAA BRAAH IT'LL NEVER COLLAPSE" Maybe it wont be backed 100% with gold but there is a chance that it could be backed with gold even 20-30%... you will not be able to trade you're fiat for gold.. that is correct because first...you wont be able to afford it since it'll be thousands just for an ounce, 2nd why would the government trade the very thing backing the fiat? The government would want you to go buy it from retail stores... you think you can walk into a government building now and go "hey I got 1 million dollars, gimme 20kilo's of gold" nope.. same thing will apply
your a fool and obviously cant read I bet 1000oz that no GOLD BACKED currency will ever again be issued by a government. Nothign to do with weather the USD will collapse or not. it may collapse in 10 years or never -- but so what if it does they wont reintroduce a gold backed currency to replace it-- which is what this thread was about. they will reboot another fiat currency -- call it USD 2.0 and continue on the same cycle That is what has happened in all recent examples of local currency collapses. Gold will never again be used as a government backed currency.
