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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: d:oug who wrote (88649)	8/9/2002 4:07:10 AM
From: RiceTrader	Read Replies (2) \| Respond to of 116779

Doug, Thanks for comments. Yes I agree that gold is real money. But the reality is that for most people fiat money is real money and works better than gold at this point. Fiat money is real money also because it is accepted medium of exchange and a reliable short term store of value. For example, I can write computer programs save the money I get and buy a house and food. I don't need any gold to do that and I have my house which will store the value reasonably for me long term. If people can agree on gold being used as money that's fine with me but it doesn't get me any further ahead. I probably have to trust some offshore corporation to store and track my gold for me. In the end, I have to trust someone either a politician (for fiat) or offshore corporation (for gold) to store and count it for me. At this point a faceless corporation with a auditor's letter just isn't trust worthy. Gold is just too difficult to use as money and because of that you could argue that it isn't even real money any more. E-gold seems to be a step in the right direction but I'm sure the E-gold guy will just steal it all in the end. I'll use any money that works well as a short term medium of exchange. I tried gold and it just doesn't work for me. The gold people need to make it easier to spend so people like me can actually use it. Gold appears to be a poor long term store of value too. But, if the point above can get solved then people like me who are naturally lazy will use it as a store by default. This appears to be the stark reality at the moment. /Ricetrader