Do you think the time will come when the world will only have one currency?

[CavaliereVerde]

In 1971 Nixon scammed the world .

 

[new_trader]

Freedom will never fail As it is the greatest value ever. And to new_trader, I just improvised while answering to when you said that currency and money are two different things ("There is no currency that is backed by real money."). But if seriously speaking, money and currency are the same thing. Currency is simply one, tangible form of money. We have one money in the world. It is represented by lots of currencies. Our money is backed by what we are - free, smart and hard working people. This will never fail or change, because it's our nature. This can only be changed by a massive global catastrophe. The chance of it is very low.

The US dollar or any major currency answers the definition:

1. Durable
2. Portable
3. Scarce
4. High value to weight ratio
5. Recognizable
6. Intrinsic value
7. Homogeneous
8. Easily testable
9. Store of value
10. Widely used

You make me laugh...talking as if fiat money is associated with freedom. Fiat money is the antithesis of freedom.

 

[new_trader]

Currently the "real money" is the trust in the economic and military power of the West (mostly the U.S.), that has never failed, since leaving the gold standard.

Leaving the gold standard was the failure. The USA promised to pay the world gold but left them holding worthless Federal Reserve notes instead. The USA essentially defaulted on its promise when Nixon closed the gold window on August 15 1972.

 

[AriaS]

You make me laugh...talking as if fiat money is associated with freedom. Fiat money is the antithesis of freedom.

I am glad that I can make you laugh Believe in whatever you want. I am not a conspiracist. You can't make me believe in c*** that makes no sense. And remember, that my common sense is the one that everything is built on - everything that you use 24/7 everyday.

 

[new_trader]

I am glad that I can make you laugh Believe in whatever you want. I am not a conspiracist. You can't make me believe in c*** that makes no sense. And remember, that my common sense is the one that everything is built on - everything that you use 24/7 everyday.

There is no conspiracy. But there is around 5000+ years of monetary history, much of which has been well researched and documented. Maybe you should use your common sense and study it.

 

[CavaliereVerde]

I am not a conspiracist.

Neither I am but this is pretty accepted even if not spread around by US .
Even De Gaulle wanted to change back dollars for gold.

Nixon shock - Wikipedia

en.wikipedia.org

There is no reason not to use gold as currency, decent amount of value in few grams or coins.
Few kilos and you can pay cars and houses.

It is nothing new, it was inveted in middle ages by rulers to scam people.

Seigniorage - Wikipedia

en.wikipedia.org

 

[AriaS]

There is no conspiracy. But there is around 5000+ years of monetary history, much of which has been well researched and documented. Maybe you should use your common sense and study it.

I know history. Maybe you should use your common sense and study some recent history as well. It is also a part of history. In the recent 2 centuries humanity has undergone some major revolutions that affect all the aspects of our lives. I hope you have noticed that.

 

[AriaS]

Neither I am but this is pretty accepted even if not spread around by US .
Even De Gaulle wanted to change back dollars for gold.

Nixon shock - Wikipedia

en.wikipedia.org

There is no reason not to use gold as currency, decent amount of value in few grams or coins.
Few kilos and you can pay cars and houses.

It is nothing new, it was inveted in middle ages by rulers to scam people.

Seigniorage - Wikipedia

en.wikipedia.org

It sounds legit, but if humanity doesn't use gold as currency, there probably is a reason. It's not that we live under tyranny. We have a free market in this world and our current financial system has formed under the influence of certain objective factors. If anyone believes that gold can be a currency then they should simply start using it. That's how it works.

 

[CavaliereVerde]

It sounds legit, but if humanity doesn't use gold as currency, there probably is a reason

This is what I tought before watching the video by Jake Tran.
The reason is that govs like to print money for wars or to buy cosent with social programs.
The reality is that there is not reason not to use gold and silver as currency.
It worked for thousands of years.

 

[AriaS]

This is what I tought before watching the video by Jake Tran.
The reason is that govs like to print money for wars or to buy cosent with social programs.
The reality is that there is not reason not to use gold and silver as currency.
It worked for thousands of years. you have only two options start using it

As for me, Jake Tran is the "Alex Jones" for people who are a bit more educated (but still not enough). Just another conspiracist. You only have the next steps to do. 1. Start using gold as currency. 2. Vote for a party who promotes gold as currency. 3. Become a politician and create a party who promotes gold as currency

 

[CavaliereVerde]

Just another conspiracist.

mmm, no
but if you prefer...

 

[AriaS]

mmm, no
but if you prefer...

"The end of America" russian fascists and conspiracists' favorite narrative that I've heard for about 22 years now. Guess what happened in these 22 years The end of russia. Btw, since Sep 1st Ukraine has liberated more than 1000 square km. Rashist bosses have left Crimea 3 weeks ago. They record videos from cities deep inside russia. We all see that in telegram channels. Russian citizens are also evacuating in panic. "Crimea is ours fovever!", they said.🤦‍♀️

 

[CavaliereVerde]

I can agree with you about Ukraine but it is a bit off topic here.
This does not mean than US is always right.

USD as reserve currency of the world is not a free choice, it is enforced with weapons.

 

[Rufus_Leakey]

The reality is that there is not reason not to use gold and silver as currency.

Nothing is stopping individuals from trying to use gold as a currency, but for the world ...

7 reasons the gold standard is a terrible idea

Vox is a general interest news site for the 21st century. Its mission: to help everyone understand our complicated world, so that we can all help shape it. In text, video and audio, our reporters explain politics, policy, world affairs, technology, culture, science, the climate crisis, money...

www.vox.com

 

[AriaS]

I can agree with you about Ukraine but it is a bit off topic here.
This does not mean than US is always right.

USD as reserve currency of the world is not a free choice, it is enforced with weapons.

The US is as right or wrong as the whole humanity is right or wrong (you are talking to a vegan here 😔) But russia or north korea is as right as one certain insane maniac is right.
Of course USD is enforced with weapons. Thanks god it is!🙏 Otherwise we'd all have lived in putin's/kim's/saddam's/gaddafi's/whatevermonster's "heaven" long time ago. Thanks god that free people are creative, the least corrupt and smart enough to build and maintain some better weapons. Otherwise my home country would be conquered by now and would look like russia. You can't even imagine what it's like to live in constant fear and poverty, because one tiny group controls everything, and they can do anything to you and your family and you can't defend yourself. That's how we lived in the USSR. That's how people live in russia today.

 

[new_trader]

I know history. Maybe you should use your common sense and study some recent history as well. It is also a part of history. In the recent 2 centuries humanity has undergone some major revolutions that affect all the aspects of our lives. I hope you have noticed that.

I am not sure how major revolutions is relevant to this discussion?

You are incorrectly using the terms money and currency as if they are interchangeable when they are not.

The fiat currency in use around the world today requires legal tender laws to be accepted as a medium of exchange whereas money has always evolved through voluntary exchange in the free market, and has almost invariably evolved from a commodity with intrinsic value.

I live in the UK and I don't have a choice about how I want my debts settled. This means if somebody wants to pay me in £GBP then by law I must accept it, I cannot demand payment in silver or gold. In other words, legal tender infringes on my freedom! I don't have to accept $US despite them having a big trustworthy military, which seems to contradict what you said earlier about fiduciary currency.

Gold and silver maintain their properties regardless of where you are in the Universe whereas currency does not. The $US is legal tender only in the USA. Same can be said for any sovereign currency, legal tender laws are only enforceable within the issuing nation. This is not the case with money.

You don't need a law to force someone to accept gold is a metal, or that it can conduct electricity, or that it can be used for jewellery or any other of its many qualities because they are inherent in the element of gold.

 

[new_trader]

GOLD AND THE GOLD STANDARD

THE GOLD-COIN STANDARD
By far the most important form of the gold standard has been the gold-coin standard. This is the form that is chiefly contemplated in the last four chapters of this book. Since the varietal characteristics of the gold-coin standard have already been considered, a mere summary of them here will be sufficient. They may, then, be summed up as follows: The parity of all forms of money and of deposit currency is maintained with the value of a gold monetary unit, which is coined (singly or in multiples), under a system of free coinage, without appreciable charge for the coinage process. Gold coins are permitted to circulate freely throughout the country, may be freely exported and imported, may be melted, are unlimited legal tender, and are acceptable without limit in payment of all taxes and other government dues.

Ref: https://cdn.mises.org/Gold and the Gold Standard_3.pdf
This is a free e-book from Mises, for people who don't want to get everything they know from the Television or online political articles.


I maintain my position: There will never be in my lifetime or within the next 100 years a single world currency, but there more than likely will be a return to some kind of single monetary standard as described above. Probably a full gold standard and then, within a few generations, Governments will once again (as they always do) slowly and surely dismantle it by convincing the stupid and ignorant masses that a gold standard is bad.

 

[AriaS]

GOLD AND THE GOLD STANDARD

THE GOLD-COIN STANDARD
By far the most important form of the gold standard has been the gold-coin standard. This is the form that is chiefly contemplated in the last four chapters of this book. Since the varietal characteristics of the gold-coin standard have already been considered, a mere summary of them here will be sufficient. They may, then, be summed up as follows: The parity of all forms of money and of deposit currency is maintained with the value of a gold monetary unit, which is coined (singly or in multiples), under a system of free coinage, without appreciable charge for the coinage process. Gold coins are permitted to circulate freely throughout the country, may be freely exported and imported, may be melted, are unlimited legal tender, and are acceptable without limit in payment of all taxes and other government dues.

Ref: https://cdn.mises.org/Gold and the Gold Standard_3.pdf
This is a free e-book from Mises, for people who don't want to get everything they know from the Television or online political articles.


I maintain my position: There will never be in my lifetime or within the next 100 years a single world currency, but there more than likely will be a return to some kind of single monetary standard as described above. Probably a full gold standard and then, within a few generations, Governments will once again (as they always do) slowly and surely dismantle it by convincing the stupid and ignorant masses that a gold standard is bad.

"the stupid and ignorant masses" - Anyone who disagrees with you 🤷‍♀️ Thanks the Universe that the leaders whom we vote for are not as arrogant and patronizing.

 

[new_trader]

You're joking aren't you? The people 'we' vote for rely completely on the masses being stupid and ignorant, otherwise they would never win an election. And as a side point, even as a trader you should already know this:

Whenever you find yourself on the side of the majority, it is time to reform, pause or reflect. — Mark Twain.

 

[timsk]

. . . that the leaders whom we vote for are not as arrogant and patronizing.

D'AYC,
Apologies for the ensuing double negative, but surely you don't truly and honestly believe that the leaders we vote for aren't arrogant and patronising? Just look at how they've lied and duped us all across the (western) world about Covid and, in particular, about the efficacy and safety of the vaccines. Their arrogance in the way they treat us is staggering beyond belief. Suffice to say, your faith in our leaders is completely misplaced. Furthermore, you appear to be totally out of touch with what is happening in the west. You write: ". . . You can't even imagine what it's like to live in constant fear and poverty, because one tiny group controls everything, and they can do anything to you and your family and you can't defend yourself. . .That's how people live in russia today. . ." Allow me to correct your statement so that it accurately reflects reality; it only needs a single word change. . .
You can't even imagine what it's like to live in constant fear and poverty, because one tiny group controls everything, and they can do anything to you and your family and you can't defend yourself. . . That's how people live in the U.K. today.
Tim.