Thursday, July 14, 2011

Ron Paul Confronts Ben Bernanke: Is Gold Money?

I Found this on 

Gold is Money
Gold has always been accepted around the world as a means of exchange and a store of value - the mark of good money. Gold is money because it is uniquely suited for being our money, not because it's shiny and fancy looking, but because it is actually the most practical choice. What makes Gold the good money? Gold is money because gold is durable. Other choices from the past like wheat, hemp, fish, cows, or even people, cannot endure the test of time - only gold can. Gold is money because Gold is divisible and consistent. Pure gold is worth exactly the same amount per unit regardless of how it is divided; it is all just gold. Making change for a cow is far too messy, cumbersome and subjective. If you take a pretty, shiny, 1 ounce coin and chop it in half with a hatchet, you have two half ounce pieces of gold. Melt it down and pour it into 10 1/10 ounces and all 10 pieces together will equal the value of the original one ounce gold piece. Gold is money because gold is portable. One ounce of gold has almost always had the same 'purchasing power' throughout history.

It is said that in Rome, one ounce of gold would buy a nice toga, a belt and a pair of shoes. Today, an ounce of gold is worth about $1400 so this is relatively accurate. One ounce of gold won't buy you the best suit on the market, but that tiny little one ounce coin packs a purchasing power punch; $1400 in the palm of your hand. A hand bag filled with gold coins, about the same weight as Paris Hilton's dog (say three pounds), would be worth around $70000! Gold is well-suited for travelling or moving abroad because people around the world accept it. And, lastly and perhaps most misunderstood, gold is money because it has intrinsic value, it is extra ordinarily useful in ways that nothing else on earth or the known universe is useful.

Gold, in the form of gold nanoparticles, is used in extremely high technology like space travel and cutting edge cancer treatments. Gold is both the most ductile (one ounce can be pulled into an extremely thin wire 35 miles long!) and most malleable (can be pounded into an extremely thin wafer, so thin that light passes through it - 1 5/1000000 of an inch thin!) element in the known universe. Gold is the second best conductor of heat and electricity next to silver. Paired with gold's rarity, gold's amazing properties make it extremely valuable as money and to the progress of science and technology and ultimately mankind. For now, you can easily make an Investment in GoldTrade Gold Online, and Save your Wealth in Gold. Just hurry and buy gold now because, as the prices rise, it won't always be this easy! Gold is money, gold is the world’s true money.

"The great merit of gold is precisely that it is scarce; that its quantity is limited by nature; that it is costly to discover, to mine, and to process; and that it cannot be created by political fiat or caprice." ~ Henry Hazlitt


Opus #6 said...

Political fiat or caprice....we have a lot of that going on in our country. Sad for us....

Woodsterman (Odie) said...

The Federal Reserve bought treasuries ($500 billion) a while back. It devalued the Dollar and raised the price of gold ... go figure.

Leticia said...

I have heard several times from a financial advisers and even church friends talking about purchasing gold for security reasons.

Anonymous said...

I love watching Ron Paul grill Satan's little helper.