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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: pater tenebrarum who wrote (116108)8/8/2001 3:55:58 PM
From: Don Lloyd  Read Replies (4) of 436258
 
hb -

that's exactly what it is...it's the only currency that does NOT depend on a 'promise to pay to the bearer on demand'. pay what? more paper promises....
once you have it, it is already paid for - no danger of the printing press destroying its value.

However, gold, mine included, comes with no guarantee that you can actually buy anything with it. You may well be able to exchange it for many more pictures of dead presidents than you paid for it, but all that gets you is a tax bill if the goods or services that you want to buy are not available. I'm in the middle of re-reading Lucifer's Hammer and after the comet strikes nobody is talking about gold, just chocolate bars. -g-

Regards, Don
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