here's your espresso sir, that will be $3.95 please
sure no problem! i'll just pay for it with this big shiny gold bar, thanks!
um sir, we don't accept payment in big shiny gold bars
why not? can't you just mint it down into smaller denominations and give me the change?
unfortunately we don't have a coin minting press in this coffee shop, sir.
but... wait... they told me gold is real money!!!
take the gold bar and give retard 1.05 change
ok keep the change
We should invent a solution where gold is stored in a remote location and ious for said gold is offered in easily divisible amounts.
1/1000 of an ounce is about 3.50. so pic related gets you an espresso.
Or a silver dime could get you a latte with two shots.
Gold serves as storage of value, not meant to be exchanged for goods. Why do you think money was invented? People put their gold into banks, got paper notes promising that they have gold in bank. Some time later, people started exclusively trading in those paper notes. Some more time later, banks stopped backing paper notes with gold and backed them with empty words instead. Moral of the story, banks won and we trade with empty words now.
*takes your gold bar, bites it, gives it huge teeth dent marks and gives it back to you*
Sorry sir, we don’t have 399.9999 ounces in change
Wouldn't that imply that we never actually needed the gold in the first place?
*gives you silver coins in exchange*
It implies that someone wanted all the gold in circulation and found a way to get it. You know who someone is.
The trump gold card fix this, it is 5m each card
that sounds an awful lot like lending
the only way we could make that system work is if we make borrowing at interest illegal
fiat currency has never lasted more than 3 or 4 generations. gold currency has lasted millennia.
Sounds like that would make it really easy to print more ious than you have gold.
emotional arguments on why to own /pmg/
Gold is money because it’s highly sought after metal , great utility Indestructible and very scarce.. that’s inherent value.
I have literally been paid in gold before, twice actually. I think they were memeing but they came with gold coins to pay, obviously my work doesnt accomodate gold transactions but Im not retarded its literally free money so I pocketed the gold and paid the company in my cash on hand.
I think both times were with youtube/tiktok zoomers trying to be funny, 2021 and 2023 respectively.
outing yourself as someone with a stash at their home
funny joke hope it was worth it
using starbucks to use a deceptive reason to not buy PMs
Man you Jewish zoomers are a pitiful lot
Why everyone acts like gold has zero use? Nearly every machine uses gold in it's composition, and we keep making more and more of them. It's not only nice and pretty.
So, gold and shitcoins are the same thing ?
you could buy the entire building aslong with all the women in there for harem with this gold bar
Niggra please. I'm leaving one silver quarter there and getting a month off coffee that they'll just mark off for me on my card. You can leave your gold coin there and get your coffee for two years if you want no problem. The power of sound money.
Get fukt kikes and kryptokykes
load up my usb with $200 btc to go grocery shopping
stand in line, waiting my turn
pull trezor out my ass to pay for my goyslop
trump makes a tariff post before my transaction completes
markets dump
my $200 worth of btc is now worth $97
transaction denied due to lack of funds
shove my trezor back up my ass and perform backflips out the store into on coming traffic to kms
The future of finance
Actually, debt-based forms of money preceded the use of commodity money by tens of thousands of years.
See for instance the tally stick pictured. The tally stick is itself a worthless token, but was a tradable IOU functionally similar to a modern day fiat money which is a tradable IOU that represents a claim on the issuing government.
The fact that modern fiat money is a claim specifically on the government reflects the centralization of authority within modern states. Fiat money began to emerge alongside the emergence of states as power monopolists, whereas commodity money has largely been used only in times of war, strife and lawlessness. Even in societies that nominally used commodity money such as precious metal coins, those coins were traded at values above their metallic value: why? Because if their face value hadn't been higher than their metallic value they would have been melted down and sold for their metallic value. Indeed, any the state that minted gold or silver coins could only possibly do so at a loss if their value only reflected their metallic value. The reality is that the value of money has almost always derived its value from its ability to pay taxes, fines and fees imposed by the local force monopolist.
5 GOLD BARS FOR A LOAF OF BREAD
NO THAT IS ILLEGAL
6 BARS
we've already seen examples of people shaving off gold flakes to pay for shit like haircuts in venezuela
also this lol
Take bar to local jews.
Ring the bell.
Coin clipping noises in the back cease.
"Shalom goy, we'll store that bar for you, and give you bills the locals will trade freely. Just bring back bills and we'll trade them back for gold.
Meanwhile they've lend out 10x the worth of that gold as debt notes, call in all their debts at the same time at all the goldsmith shops, and foreclose on the goys for all their property cus their isnt enough gold circulating to pay them back.
Replace this with inflation and direct bailouts to corpo.
I <3 goldbacks.
I thought goldbacks weren't worth the investment because the amount of gold was too small?
well if you care about gold's divisibility it's a good choice
personally i don't, and think silver does the job of paying for shit like coffee much better
yes, i can manage to get an entire kilogram of gold in one sitting
no, i cant figure out how to acquire any smaller denominations despite my vast wealth
I mean gold does seem to catch the eye more than silver, and notes are easily recognizable by normies so that's why I wanted at least a couple hundred bucks worth
The amount of gold used in electronics is minimal and could be replaced by copper if necessary (though gold has better properties than copper). If Gold was valued by its industrial use, it would be like a 20th of its current value.
Kek a bar like that can buy the entire property outright
it would be like a 20th of its current value
It would not, you are forgetting how expensive the whole process of mining, refining, distributing/securing it is. It is an extremely long, expensive, road before that gold coin ends up at the store.
big
Like 1g of gold is >$100 now. Tiny gold leafs would buy you an espresso.
the entirety of Anon Babble is retarded
Gold is valuable because it stays stable while every other commodity will fluctuate. If society collapses, all your stock, crypto, cash, and gold will be worthless. But the first three will all go up and down before that while gold really won't.
calls others retarded
spouts word salad that makes no sense
Right, the important difference is that only tiny amounts of gold are needed for its purpose. Gold is used on electric contacts because its corrosion resistance, but otherwise its actually a worse conductor than copper, So you just want a tiny amount of gold on a contact, the rest copper. And gold can be thinned down to insanely thin sheets. Even if gold was just as cheap as copper, there would still be like a million x more demand for copper by weight.
Also worth note: they lend without reserve now! The Federal Reserve isn't Federal or a reserve!
preposterous, silver is the money of trade nigger
pays in 2 war nickels
niggerfaggot
Thats what silver is for.
it's composition
It's crazy how scarce gold is
Interesting that these types of threads always appear when gold is doing well.
Coffee Republic in London actually does take gold coins, you get your change back in fiat though.
Tally sticks were just a way to remember money owed. The economic system was not based around Tally sticks.
personally i don't, and think silver does the job of paying for shit like coffee much better
A couple copper pennies for coffee and a bite, silver dimes (one) are for prostitutes.
No but its shiny and beautiful. People value gems for the same reason. This gives it inherent value. If gold was cheap people would be gold plating all kinds of stuff because it looks good and has fantastic properties (non-corrosion, non-reactivity, etc.)
if it can't be used as payment it's not money hence not a real store of value, just an incovenient item that is not worthless