If silver is money, then it is quite shitty money - possibly the world's worst ATM, as indicated by it's performance. Bloomberg: Ghana -- home of 2014's worst-performing currency Silver vs Ghana Cedi
Wait what? silver is not money, it's a commodity? omg! HOW DO YOU KNOW THIS?!?!?!? Ok.. dont panic, im going to go and ask some people ok? No! YOU come with me too, let's ask together. Achaemenid Empire Persia Afsharid Dynasty Persia Akkadian Empire Sumer Aksumite Empire Ethiopia . Almohad Dynasty Morocco Almoravid Dynasty Morocco Angevin Empire England Armenian Empire Armenia Ashanti Empire West Africa Austrian Empire Austria Vienna Austro-Hungarian Empire Austria, Hungary Ayyubid Dynasty[citation needed] Middle East Aztec Empire Mesoamerica Tenochtitlan Babylonian Empire Mesopotamia . 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Jin Dynasty (265420) China Kanem Empire Chad Njimi First Turkic dynasty to embrace Islam. Khazar Khaganate Pontic steppe, North Caucasus Khilji Dynasty Afghanistan Khmer Empire Cambodia Hariharalaya Khwarezmid Dynasty Persia Urgench Korean Empire Korean Peninsula Kushan Empire Afghanistan Kushite Empire Egypt, Nubia Latin Empire Thrace, Asia Minor Liao Dynasty China Shangjing Lodi Sultanate Afghanistan Delhi Macedonian Empire Hellenistic Greece Majapahit Empire Malay Archipelago Mali Empire West Africa Niani, Cairo See also Islamic Empire. Manchukuo Manchuria Hsinking 1932 1945 13 Maratha Empire Indian Subcontinent Raigad, later Pune Mauryan Empire Ancient India Pataliputra 321 BC Median Empire Persia Ecbatana Micronesian Empire Micronesia, Pacific Ocean Ming Dynasty China Nanjing Mongol Empire Mongolia Karakorum Mughal Empire India Agra, Delhi Nanda Empire Indian Subcontinent Pataliputra Neo-Assyrian Empire Mesopotamia Assur, Neo-Babylonian Empire Mesopotamia Nguyn Dynasty Vietnam Ph Xun Northern Yuan Dynasty Mongolia Shangdu, Yingchang, Omani Empire Oman Muscat Ottoman Empire Anatolia St, Bursa, Edirne, Constantinople Oyo Empire Southwestern Nigeria Oyo-Ile Palmyrene Empire Syria Palmyra Pandyan Empire Southern India Madurai Parthian Empire Persia Portuguese Empire Portugal Ptolemaic Empire Egypt Qajar Dynasty[citation needed] Qing Dynasty China Rashidun Caliphate Saudi Arabia Rashtrakuta Dynasty India Manyakheta Roman Empire Italy Rome Rouran Khaganate Inner China Russian Empire Russia Saint Safavid Dynasty Persia Tabriz, Qazvin, Esfahan Saffarid Dynasty Afghanistan Zaranj Samanid Dynasty Persia Balkh, Sassanid Dynasty Persia Satavahana Dynasty India Kotilingala Scandinavian Empire Scandinavia Second Bulgarian Empire Balkans Second French Empire France Second Mexican Empire Mexico Mexico City Seleucid Empire Persia, Mesopotamia, Syria Seleucia, Serbian Empire Serbia Skopje, Prizren Shu Empire China Chengdu Siam Empire Thailand Bangkok Sikh Empire Punjab region, India Silla Korea Gyeongju 57 BC Song Dynasty China Bianjing Songhai Empire West Africa Gao Spanish Empire Iberian Peninsula Srivijaya Empire Malay Archipelago Sui Dynasty China Chang'an Sunga Empire Indian Subcontinent Swedish Empire Scandinavia Tahirid Dynasty Persia Nishapur Tang Dynasty China Tay Son Dynasty Vietnam Tibetan Empire Tibet Lhasa Timurid Empire Persia and Central Asia Tlemcen Algeria Tlemcen Tu'i Tonga Empire Tonga, Pacific Ocean Turgesh Khaganate Turkistan Balasagun Umayyad Caliphate Syria Damascus, Crdoba Uyghur Khaganate Central Asia Ordubaliq Uyunid dynasty Arabian Al-Hasa, Qatif Vijayanagara Empire South India Vijayanagara Wari Empire Peru, Bolivia Huari/Tiwanaku Wei Empire China Luoyang Western Chalukya Empire South India Manyakheta Western Roman Empire Italy Mediolanum, Ravenna Western Xia Dynasty China Xingqing Xin Dynasty China Yuan Dynasty China, Zand Dynasty Persia Zulu Empire South Africa Athenian Empire (Delian League) Ancient Greece Delos island Second Athenian Empire Ancient Greece Athens Central African Empire Central African Republic Empire of China China Beijing First Empire of Haiti North America First Haitian Empire Second Empire of Haiti North America Port-au-Prince Second Haitian Empire, Faustin Soulouque is proclaimed Emperor Faustin I. Grand Duchy of Lithuania Lithuania Vilnius PolishLithuanian Commonwealth Poland, Lithuan century Soviet Empire Soviet Union Moscow Ur III Empire Sumer Empire of Vietnam Sorry guy's julieW was sold to a brothel.. I later found out she turned into a sheep.. thus the name sheeple.
Well put as usual JLiz, I am glad that there are some members here on the SS forum who are reasonable thinking people who make thoughtful, informed, logic comments. To all members, we all here may not agree all or even most of the time on certain points but if you are not going to be thoughtful with your comments and if all you want to do is make ad hominem attacks on others who don't agree with you, you and me are probably going to have some difficulty getting along.....and that's all on you. .
You are one of the only smart stackers who gets it CJ. The rest are still living in the Bronze Age. To be clear, I would state that for everyone who is not them self a Central Bank, in all except maybe a few towns or except at a few isolated businesses, blobs of metal do not function like money. To date, no stacker has ever posited a cogent argument with any evidence at all to counter this claim...and I won't hold my breath waiting for a reasoned argument against it because none exists...otherwise someone would have by now made that case. .
In Vietnam property transactions are done in Gold. "One thing that separates real estate transactions in Vietnam from the rest of the world is its done in pure gold. In June, according to Thanhnien News, one tael (1.25 ounces) of gold is equivalent to VND11.45 million (US$544). It is very important to keep this in mind when looking for a property. The buyer must be aware of the prices and conversions at all times."
That's not an example of blobs functioning as money. Using that argument, I could claim that dog feces or pretty seashells is money if I can find some people willing to trade something I want for it. .
ML, I agree that silver has too many industrial uses to become money again. But that restriction doesn't apply to gold. The example given was gold functioning as money. If you can find someone to take dog feces as money, I can come up with a sh*%load of it.
1) Who said I wanted to make money? It is a nice side benefit if it happens, but not why I buy silver. 2) Pure silver has anti-bacterial properties that keeps milk fresh, and purifies stale water. In roman times they use to have a pitcher made out of pure silver for this purpose. Immediately after a collapse scenario you are correct their will be no immediate use, but for bartering for your life, or for your families lives... it might just save you. This is a situation where having another ACE waiting to be played cannot hurt but only benefit you. All in all markets will return, and commerce will again begin. The number of years it will take is unknown but your family line will be set when it does. 3) Doesn't matter. See number 1. It is inherently valuable, a finite resource with scarce above ground amounts being almost wholly used by industry. I may not be able to eat it, predict it's price, and it may or may not pay out dividends (who cares?), but I can guarantee one thing... It will be here after you and I are long and gone turned to dust. Will your investments?
Utah passed a bill making gold & silver "legal tender" but I can't find any evidence that the state will accept either for payment of taxes, which is one definition of money historically. When the governor of Utah signed the bill back in late March 2011 silver was around $36-$37. Perhaps the biggest consequence of the bill is that the state will not levy capital gain taxes on profits trading gold & silver coins issued by the federal government. Unfotunately I assume they took away the capital loss write off as well...
your an absolute idiot. it may have been money in history I am not disputing that but atm and never again will it be considered money again by the general population. If you doubt me go to coles with your silver coins and try to buy a pack of gum with a 1oz silver coin ( even if it is legal tender ) and see how far you get with it.
'Never' is a very long time to be making predictions over, and it is the unwavering certainty of the person making the prediction that makes me think that he is from the future. Only someone from the future would know with that much confidence, any other reasonable person would at least consider the possibility that somewhere on the planet, some group of people, at some time in the future would use silver for some period of time. It might not be likely for Australia to use silver in the near future but I don't think that we can extrapolate that to every country in the world for ever, just reeks of junk scientific thinking, but you never know, it might be me with egg on my face when the universe finally explodes, or implodes, or fades away. I am happy to say that it is unlikley that money will ever be made from silver again, the people who make money don't want to use silver because it is expensive, at the moment we are seeing that it is going the other way, governments are using copper plated zinc and copper plated steel in order to make the coinage cheaper. Small denominations are dropping like flies around the world, we have already lost our 1 and 2 cents so we can't even give exact change anymore and it looks like there are calls for the 5 cents to go as well. Governments won't willingly do something to give us any actual value when they can keep giving us pretend value at no extra cost. If silver does get used it will be in the form of community currencies rather than government issue (Like the Liberty Dollar or AOCS) but in order for that to happen people will need to become more educated about how money works and they will need a really good reason to switch to silver, as far as most people are concerned, the government money is just fine. It took me about four years to get the idea that inflation was robbing us of our savings across to my family.
Actually, we are living in the New Bronze Age: http://www.psmag.com/navigation/nat...onze-age-entering-the-era-of-tough-ore-60868/ Everyone forgets about copper!
That reason would be trust. If people ever lose trust in paper dollars then there will be a return to silver and gold, at least temporarily. You can trust silver. It doesn't turn to nothing at government decree. Governments aren't sneaking in to slice off a percentage here and a percentage there from your silver. 1 oz today is 1 oz tomorrow. On the subject of unsanctioned community currencies. They are unlikely in our future fascist corporatocracy. They'll be labelled as terrorist currencies and the full force of the state will come crashing down on any unpatriotic community that dares to bypass the system of end-to-end transaction tracking. And it would upset people at AUSTRAC which would be kind of mean.
Apparently in the Argentinan financial collapse Gold rings were the favorite currency when negotiating with the street gangs.
Even I try not to claim that never will blobs be money...."never" rules out every conceivable possibility. I'd say it this way; "slim chance that in my lifetime will I see blobs of metal function as money"...it's a thing of the ever widening past and little chance of it returning. Certainly it doesn't function as money now for us in societies for all practical intents and purposes (except in isolated locals or businesses). That said, I'm not arguing that it shouldn't function as money....just that it doesn't in any practical sense. I saw a video about 2 years ago made by a stacker (if I remember correctly) where he goes into a shopping center parking lot in some average suburban-looking town in the US and he asks people who pass if they'd want to buy the bullion coin (American Eagle I believe it was) from him for like way less than half it's actual value....guess what? NO ONE treated the precious metal in that coin as money...no one. And that's a legal tender US gov't coin....imagine how much people would laugh at the idea of treating a blob as money? And good luck finding any business that would treat the metal blob as money. .
Just an FYI, you're arguing with a teenager who has probably never held a job in his life and who gets his world view from 4chan.
Everyone wants to buy gold! "I buy gold. Pay cash" signs are everywhere, even on TV! I can't believe I'm that silly! I just didn't relate it to what I read here because they deal with junk gold, like jewelry, either stolen or sold because they needed the money, not the gold coins that you guys talk about. No one pays for the true value of the stuff, so big WARNING! Sign on people that are buying gold coins. Since it is impossible to determine the true mineral percentage of gold, small shops and dealers will pay for it as regular jewelry gold. What I would do if I were you: Besides gold coins, buy a lot of small gold rings and other jewelry. They should be less expensive than gold coins, and if the SHTF bad, you won't be losing money, selling premium quality gold coins for the price of junk gold. If I could travel back in time, I'd buy a small bag of gold rings. Small time thieves will snatch gold chains right out of your neck and sell them at these small dealers found everywhere. This is VERY common at train stations, subways and other crowded areas. So, my advice, if you are preparing for a small economical crisis, gold coins make sense. You will keep the value of the stuff and be able to sell it for its actual cost to gold dealers or maybe other survivalists that know the true value of them. In my case, gold coins would have been an excellent investment, saving me from losing money when the local economy crashed. Even though things are bad, I can go to a bank down town and get paid for what a gold coin is truly worth, same goes for pure silver. But where I live, in my local area small time dealers will only pay you the value of junk gold, no matter what kind of gold you have. So, I'd have to say that if TSHTF bad, gold jewelry is a better trade item than gold coins. From a Argentinan blog.
