@LynAldenContact It took the french revolutiom to invent the guillotine to take care of bankers who ripped them off. It is going to take another for investors who have billions upon billions of paper gold to realize they aren't worth the paper they aren't written on.
@ConanMcKegg @555333Phil@dbseymour I'm not invested in Crypto. I'm just pointing out why Millenials are. If you price Auckland House prices in sat Gold or Silver over the last 20 years you will see what stable money is even despite all the attempts to devalue Gold and Silver as money.
@ConanMcKegg @555333Phil@dbseymour What gives some people the right to rule others? The most common and seemingly compelling answer has been "the consent of the governed." As we see in the news lately the government stating what cars people should and shouldn't drive? One question after another comes to mind.
@ConanMcKegg @555333Phil@dbseymour Can you give me an example of a centralised system that has been stable and had a reliable monetary value since US President Richard Nixon announced that the United States would no longer convert dollars to gold at a fixed value, thus completely abandoning the gold standard?
@ConanMcKegg @555333Phil@dbseymour For me money is anything that is generally accepted in payment for goods and services and in repayment of debts. The main uses of money are as a medium of exchange, a unit of account, and a store of value. Sad to say our currency / legal tender fails on my last requirement.
@ConanMcKegg @555333Phil@dbseymour So you don't see Silver and Gold as Money? Silver and Gold has no debt, they promise nothing to no one. But they both have intrinsic value. You can melt them, exchange them, etc. The only thing that gives a NZ dollar note value is the govt through stealth says a note is 5 or 100
@ConanMcKegg @555333Phil@dbseymour I don't disagree with you, but the reason they look to Crypto is because they don't trust Governments to supply a stable form of currency. i.e. working for 40 years for a medium of exchange that can be just printed into oblivion. https://t.co/L8bWkPncY1
@hamishmincenz @555333Phil@dbseymour Current legal tender in NZ then it's the Reserve Bank of NZ. There are many types of money aside from Legal Tender. Gold and Silver. Historically money should be the equal exchange of value. The origin of paper money came about through gold and silver certificates.