what is money?

[HawkHybrid]

this is a discussion topic on what does and can constitute money.

 

can gold/silver be money?

 

if you consider money as a means of bartering for something only

that you you exchange with something that represents your goods

and not the goods themselves. then it's a bit like the iou notes we

currently use.

 

one important role of money is the ability to pay your taxes with

it. 

 

is it possible to pay your taxes with legal tender £20 coins?

 

HH

[Kman]

To be money these are the rules I've read, it has to be:

 

Medium Of exchange

Unit of account

Durable

Divisible

Portable

Fungible

A store Of value

Gold/silver are all of those things.

 

When I think about money now, the store of value is the big thing

 

When you save,  It's really a store of your time, energy and hard work,

 

You don't want to give up the majority of your life just to have banks pumping out more "money" out of thin air thus making your life's work worth less and potentially worthless when it comes to retire.

[HawkHybrid]

 

 

Medium Of exchange

what is accepted as a medium of exchange is not fixed.

 

eg some banks will accept the new £20 coins and not others.

 

what I'm suggesting is what form of payment that is accepted by

the government for the payment of taxes should always be

accepted by all as a means of payment.

 

HH

[HelpingHands]

Can cash be a store of value if it can become worthless?

What if you had stored your value in French Francs and just woke up from a coma?

[Fluttershy]

what I'm suggesting is what form of payment that is accepted by

the government for the payment of taxes should always be

accepted by all as a means of payment.

 

 

that would be Fiat currency.

 

and where that stuff falls down is with it`s hidden/secret tax, the invisible tax that takes purchasing power out of your purse and you don`t even feel it, until you go to Buy something with it.

 

it`s legalised Theft in no uncertain terms!

 

 

Money on the other hand is different, it`s untouchable by them for the most part, sure they`ll try and maniplate the fiat price, but history shows that real money will always win out over fiat currencies.

and that fiat will always go back to it`s intrinsic value of ZERO.

 

have a look:

 

I`m sure there currency wasn`t Always like this