fiscalconservative76 (November 30, 1999 at 12:00 am)

@GridJumping Also to note the market has tendencies to correct mistakes or bubbles if you will.

fiscalconservative76 (November 30, 1999 at 12:00 am)

@GridJumping Gold is manipulated yes or otherwise the prices would be much higher but I am speaking of Gold in a monetary sense not as a investment. Its almost impossible to have a central bank and a Gold standard. Most people believe we had a Gold standard past 1913 but they couldn't be more wrong.

GridJumping (November 30, 1999 at 12:00 am)

@fiscalconservative76 They've already made gold an effective fiat by creating the derivative (Gold ETSs) that are being traded on Wall Street. The same guy that was put in charge of Enron, then advised Greenspan on creating the real estate derivatives that crashed the real estate market has now been put in charge of gold derivatives. This is no accident. Gold is bubbled and it is bubbled because WS figured out how to make it essentially a private market fiat.

fiscalconservative76 (November 30, 1999 at 12:00 am)

@GridJumping Gold is commodity money rather then fiat money. Gold has been used for thousands of years as money and it is still being used today. In Zimbabwe their fiat currency is virtually worth nothing now. I am not denying Gold is a commodity but it is money and probably will always be money.

GridJumping (November 30, 1999 at 12:00 am)

@fiscalconservative76 You're confusing medium of exchange with the trading of commodities. Gold is a commodity.

fiscalconservative76 (November 30, 1999 at 12:00 am)

@GridJumping I think you are confused as to what a medium of exchange is.

fiscalconservative76 (November 30, 1999 at 12:00 am)

@GridJumping First off I am not telling you anything. Gold is in fact the medium of exchange that is accepted. Food is what they need. The villagers are being charged more because like in the video they said they are so hungry they are willing to pay so if its 10 dollars a loaf or 1 dollar a loaf it makes no difference the medium of exchange is still the same. If Zimbabwean dollars were used then that would be the medium of exchange but they are no longer using it.

GridJumping (November 30, 1999 at 12:00 am)

@fiscalconservative76 10 dollars of gold for a loaf of bread that costs 1 dollar here.....and you tell me the security is in gold, not food. I'll listen to my own advice here, thank you.