Genius

[cottonpicken]

No,it was only in 1971 gold was allowed to float.

Charles Degaulle of france decided to start
changing dollars for gold because of reckless us
government spending.

For 5000 years 99% of the planet has accepted it as
an exceptable form of payment.(you havnt gone to
the bank and bought that 1 ounce like i begged you
to a while back)

A dirt farmer in indian with no electricity or running
water knows what the price is.

There is nothing special about it,it a simple median
of exchange.

It takes time and energy to produce and all of it
ever produced in the history of the world would fit
in a big farm shop.

[TOM4CWB]

CP,

There needs to be a currency... for gold to have commercial value to trade for other needed and traded products.

Gold is simply one of those products.

Take some Gold to Walmart, Superstore, Viterra, or your local co-op.

They will all look at you very strangely... if you attempt to pay a bill using pure raw gold. I bet you a coffee... without major preperations and negotiations... the vast majority of business in Canada WILL NOT accept gold as payment for goods and services.

You need a currency to complete the transaction.

[cottonpicken]

The one ounce coin in front of me has the maple
leaf the queens head,and a stamp saying 50 dollars.

Your right though i would have to make a stop and
sell it before i converted it to something else.

On a side note there is a theory floating around,that
i talked about a few years back,about a global
convertible currency tied to the top 25 world
commodities.

I believe this idea is brilliant.

[Prairiefire]

One the most important and valuable commodity is food.All else does not matter. Ever try eating gold or dollar bills ?

[BTOfarmallll]

It ain't time to pull The Plug yet. When it is Look Out, Hope yall sittin down, Cause when the lights go out, Ya's ain't gon find yer way in this Shit Storm a comin'........

[ado089]

Something that is not scarce inherently can't have much value, and currency is not scarce. When you start using 12 zeros to describe your debt as a nation your currency isn't worth the paper its printed on. The time is near that we quit using imaginary numbers for commerce.

[cottonpicken]

Ever try buying food with paper.

Just because i think canada's foreign currency reserves
should be 100 million ounces of gold and some think
they should be 44 billon euro/dollar doesn't make
anybody right for the future,but for the past eight
years i have been 100% right-get it?