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That is not my assertion. That is your, as ever, idiotic misunderstanding of it. I do not think you have understood a single thing I have posted in this thread.

You just don't understand what I mean when I say it. What I say is no different to what you say here:

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Except of course that you can trade, just not with money. And you can probably trade with money with a person who does not nominally "accept" that particular currency, but they will take a discount if the perceive risk, inconvenience or opportunity associated with it. But they will only accept it if they believe it had value. I for example would accept any currency in the world, with a sufficient discount, if I believed that the tokens being presented to me had value. But if I did not believe they had value, I would not accept them for any reason.

I suspect you are confusing money with wealth, because the term value can imply both. I am not talking about wealth, where wealth comes from, GDP, prices, exchange rates or inflation. I am talking about being able to use money as money.

thegreatdivide wrote on Mar 12^th, 2024 at 11:05am:

In Europe, Asia and the US there are a vast number of things you can buy with your gold - which comes in many weights = 1/20 ozt (pennyweight), 1/10th, 1/4, 1/5, 1/2, 1ozt. 2ozt, 5 ozt, 10 ozt, 1 gram, 5 grans, 10 grams, 20 grams, 30 grams, 50 grams, 100 grams, 500 grams, 1 kilo.

It is limited only by what governments will tolerate before clamping down.

freediver wrote on Mar 12^th, 2024 at 11:04am:


OK FD, state in your own words what IS your assertion, now is your chance to  prove your thesis, rather than just assert it.

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Wrong. 

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Wrong; and you certainly don't understand that wealth creation in an economy reuires labour, knowhow and resources, and the value of the money used is related to that wealth creation.

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Fallacy of composition; we are talking about all the citizens in an economy who use the nation's money to trade,  not 2 paranoid people with "shared beliefs"  who must seek one another out in order to trade.... 

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"Probably"?

Good luck, your local shop might co-operate. But your nonsense is exploded above.

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No I'm not; money is a mere convenience in the production of wealth, and the value of that convenience  is related to the value of the wealth created.

eg;

(google)

The highest-valued currency in the world is the Kuwaiti Dinar (KWD). Since it was first introduced in 1960, the Kuwaiti dinar has consistently ranked as the world's most valuable currency. Kuwait's economic stability, driven by its oil reserves and tax-free system, contributes to the high demand for its currency.30 Jan 2024

....and I know you don't understand how an economy creates wealth (utilization of resources, knowhow and  labour.)


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So am I......the nation's money, that is.

thegreatdivide wrote on Mar 12^th, 2024 at 11:05am:

For someone who appears to claim expertise in all things money, you appear grossly ignorant of the world's precious metals economy - Most particularly its major role in national and international economic transactions, but also among individuals.

It appears you are a victim of the Dunning-Kruger effect.

freediver wrote on Mar 12^th, 2024 at 11:38am:


Fallacy of composition; the government requires everyone to pay fees and taxes in the nation's own currency, therefore everyone must use the nation's own money.

Ya wanna buy gold, to buy some food?  Meister has a good deal for you....

thegreatdivide wrote on Mar 12^th, 2024 at 11:44am:

Most governments outside of the West are corrupt so the order they're imposing mostly benefits corrupt apparatchiks.

In the case of totalitarian/authoritarian governments like the CCP or Putin's regime, no one owns private property. If you offend the government, everything can be taken from you including your liberty.

Under those circumstances, a gargantuan black economy which includes precious metals, thrives.

In the US, the American psyche includes the belief that governments cannot and must not be trusted so, despite draconian governmental measures to curb unrecorded transactions, the precious metals economy still thrives.

MeisterEckhart wrote on Mar 12^th, 2024 at 12:05pm:


Most governments in the West are also corrupt, because they need money to fight election campaigns, and can be bought by the highest bidders.

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Speaking of corruption, Xi is particularly active in striking it down; as for ownership, citizens buy houses - and indeed the houses as investment fad caused the collapse of Evergrande; the rest of your statement is Libertarian BS.

Tell your 'liberty' bs to the people sleeping in Melbourne's CBD streets, they will appreciate learning they are "free".   

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That's right, under a dysfunctional global financial system which you support because you benefit from it.

Deplorable.

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Based on the delusional Classical Liberal belief in  "natural individual rights" (which do not exist in nature).....

freediver wrote on Mar 12^th, 2024 at 11:52am:


Yes.