Why is currency backed by gold? You cant eat it?

[4Strokes1Pick&Poke]

Why is currency backed by gold? You can't eat it. Alien bankers?

Ever wonder why all currency is backed by gold? It's not like the country with the most gold wins. Or for that fact the last person on the planet. What would I do if I had a magic button and became the richest person in the world and wiped out everyone else on the planet like some dictators have wanted to do in history? You can't eat it. It doesn't make you live longer.
It's interesting gold is the only material that is self lubricating and dependable enough to use in space. It requires no lubricant for moving parts, reliable and never corrodes in wires and NASA among other manufactures use it when it comes to high tech dependability. A lot of movies have been made about aliens mining our resources. I.E. Cowboys & Indians with Harrison Ford.
So who does the highest government officials turn the gold into once they want paid? Aliens? According to some people we we're engineered in the likeness of the Anunnaki giants during a 3600 year planetary orbit of Planet X that is about to come around again? We have star charts in accient summarian on clay tablets that are far more advanced and with numbers counting the planets for the outside in. We just now have the technology confirmation the numbers are correct. Is writting it down on clay old technology or for a reason. Would a DVD last 3000 years if we wanted to pass it down?
How did we go from riding horses 116 years ago as the common mode of transportation to miniature spy drones made by DARPA that look like wasps? No one before 1900 was smart enough to come up with any of this technology or ideas from biblical times? We just had centuries of idiots that liked living without the luxuries today? Or did we reverse engineer technology because of Planet X being so near again and they have the capability of visiting these last 100 years again.
Have we done this before again and again build up so far to only end up destroying ourselves and the earth repairs itself again? Albert Einstein said the First World War will be fought with sticks and stones, the Second World War with bullets and machines, the Third World War with nuclear weapons and the Forth world war with sticks and stones.
I'm not saying I buy all this just a random thought. What are your thoughts!

 

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[4Strokes1Pick&Poke]

look like something we use today?

Hmm looks like things we use today only they were carved 1000s of years ago?

 

[kingskid1611]

The Bible in Ecclesiastes says there is nothing new under the sun. So it all comes back around even technology.

 

[Terry Soloman]

I gotta stop dropping so much acid.

 

[49er12]

Did u ever get a real educated answer, good question.

 

[Jim in Idaho]

The reason for gold as a currency, or backing a currency, is simple. The point of a currency is to make it easier to trade non-identical items. That is, items like eggs for gasoline. To do that, you need another item of know value compared to both items to be traded. Or known value compared to the entire list of possible trades. Lets call that item "currency". That currency has to have a consistent value over time. The ideal currency also has to be durable, so it doesn't disappear while carried around. It should be easily identified, and be rare enough that it's value can't be easily eroded by new supply. There are very few materials that match all those characteristics. Gold is one. And, it's obvious appearance, and mass, is a bonus.
Being in control of the value of the currency is, obviously, of enormous benefit. Thus the ELITES and members of government hate anything that interferes with that control....thus their dislike of gold, and constant propaganda against the use of a gold-backed currency, and why it won't work.
Jim

 

[Terry Soloman]

Did u ever get a real educated answer, good question.

No, you don't understand 49er12. I REALLY DO have to stop dropping so much lysergic acid diethylamide. You went from our money system being based on a self lubricating metal, to aliens and DARPA technology in the same post - And I actually Understood what you were trying to say!!

Jeez, I need some coffee..

 

[releventchair]

Our currency has not been gold based in a long time.
Nor is all currency elsewhere gold backed.
Gold is much more likely than fiat money to hold it's value though..
Or depending on who you ask , it will hold it's value over any paper or electronic value assigned by anyone.


Jim: if I become elite ; I would like to collect bars of gold.

Terry: careful in the sun,you'll get burned...put something on!

 

[Terry Soloman]

...Terry: careful in the sun,you'll get burned...put something on!

Thanks buddy! I got to stop looking in this mirror before I go outside, but I'll remember what you.. Oh wow! Daffy Duck just came in with Yosemite Sam and Darth Vader. I gotta go, sorry!

 

[austin]

Gold is used on space vehicles for one simple reason. It is the best conductor of electricity in the world. Gold, silver, copper, aluminum. That means that evrything left out there is worth some $$$ and eventually will be salvaged by the next few generations of TNet folks.

 

[4Strokes1Pick&Poke]

So why not diamonds?

The reason for gold as a currency, or backing a currency, is simple. The point of a currency is to make it easier to trade non-identical items. That is, items like eggs for gasoline. To do that, you need another item of know value compared to both items to be traded. Or known value compared to the entire list of possible trades. Lets call that item "currency". That currency has to have a consistent value over time. The ideal currency also has to be durable, so it doesn't disappear while carried around. It should be easily identified, and be rare enough that it's value can't be easily eroded by new supply. There are very few materials that match all those characteristics. Gold is one. And, it's obvious appearance, and mass, is a bonus.
Being in control of the value of the currency is, obviously, of enormous benefit. Thus the ELITES and members of government hate anything that interferes with that control....thus their dislike of gold, and constant propaganda against the use of a gold-backed currency, and why it won't work.
Jim

So why not diamonds? They are rare? Wouldn't you want to have the most valuable item if we were backing our money on it. I know there is more gems more valuable but why gold. Remember when the government made owning gold illegal back in what 1937? So we just keep on printing paper and no one has seen the inside of Fort Knox in 40 years? We don't even know if we have a gold cache to back our money.

 

[kingskid1611]

So why not diamonds? They are rare? Wouldn't you want to have the most valuable item if we were backing our money on it. I know there is more gems more valuable but why gold. Remember when the government made owning gold illegal back in what 1937? So we just keep on printing paper and no one has seen the inside of Fort Knox in 40 years? We don't even know if we have a gold cache to back our money.

there is no gold in fort knox but there was a run on gold spray paint years ago there.

 

[Jim in Idaho]

So why not diamonds? They are rare? Wouldn't you want to have the most valuable item if we were backing our money on it. I know there is more gems more valuable but why gold. Remember when the government made owning gold illegal back in what 1937? So we just keep on printing paper and no one has seen the inside of Fort Knox in 40 years? We don't even know if we have a gold cache to back our money.

The currency needs to be easily divisible. Also the value of diamonds varies....even diamonds of equal size and weight.
Jim

 

[hvacker]

Gold is used on space vehicles for one simple reason. It is the best conductor of electricity in the world. Gold, silver, copper, aluminum. That means that evrything left out there is worth some $$$ and eventually will be salvaged by the next few generations of TNet folks.

Sorry Austin. Silver is a better conductor than gold. So is copper. Problem is they both tarnish where gold doesn't. That makes gold a better choice.
It also looks pretty. I had a contract job in a hanger once where there was a satellite being built using gold foil. It was large and stunning.

 

[A2coins]

what he said just pretebd I said it