Tuesday, January 1, 2019

Even the most ancient civilizations used gold and silver as money. That's largely due to its scarcity. The more scarce something is, the more value it tends to have to society.

1) This thread will answer questions people have asked during the past month. I'll attempt to answer the question: Will Donald Trump put America back on the gold standard? I'll explain what the gold standard is, why it's not used today and why some experts think it should be
1:52 PM - 1 Jan 2019
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Robby BallTweet text
 
 

    1. New conversation
    1.  7 hours ago
      2) I'll offer my thoughts on the likelihood that the President will change the way the Federal Reserve operates or whether he'll do away with it completely.
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    2.  7 hours ago
      3) I'll offer my thoughts on how a return to the gold standard might affect investments.
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    3.  7 hours ago
      4) I'll offer my thoughts on the sustainability of US government spending levels and its mounting debt.
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    4.  7 hours ago
      5) I'll offer my thoughts (and some prophetic perspective) on the likelihood of a stock market collapse.
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    5.  7 hours ago
      6) First, we should look at the fundamental question: What is money? Money is simply an object that is accepted as payment for good and services.
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    6.  7 hours ago
      7) Historically, money has included things like tea, salt and cocoa beans, and even cheese.
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    7.  7 hours ago
      8) Even the most ancient civilizations used gold and silver as money. That's largely due to its scarcity. The more scarce something is, the more value it tends to have to society.
      4 replies98 retweets385 likes
       
       
       
    8.  7 hours ago
      9) Gold has been accepted as money during 99% of human history. It's only recently that it has not been accepted as money. Some nations are accepting gold once again but not because the government chose to make it their official currency.
      7 replies123 retweets433 likes
       
       
       
    9.  7 hours ago
      10) When a nation suffers currency devaluation the way Venezuela and Argentina have, they revert back to a system of bartering objects of value instead of using official currency. Small items of gold or silver will get you anything you need.
      7 replies147 retweets443 likes
       
       
       
    10.  6 hours ago
      11) Most nations today use printed paper or plastic currency. These currencies have no intrinsic value. They only have value because we voluntarily accept them in exchange for goods and services.
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    11.  6 hours ago
      12) If we refused to accept printed currency, because it has no intrinsic value, it is worth nothing. (If a gold coin were rejected as currency, it could be smelted into a lump and sold at market value.)
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    12.  6 hours ago
      13) The value of an object used as currency is directly related to its abundance or scarcity. The more abundant something is, the less valuable it is. The more scarce something is, the more valuable it is. It's the law of supply and demand.
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    13.  6 hours ago
      14) When currency is printed in greater amounts, its relative value decreases. As a currency's value decreases, it requires more money to buy a given item. As currency value falls, prices rise. Rising prices and the falling value of money is known as inflation.
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Posted by Robby Ball at 5:26 PM