Money vs Currency. Explaining Gold.

[Black Flag]

Steven, you made your point brilliantly. Time to let the thread die IMO. BF is obviously just trolling - no one could honestly be that dense. Capital gains taxes <> sales taxes. Barriers to entry <> 100% occlusion from entry. BF prefers to believe that Gresham's Law does not exist.

You must explain why you believe (1) taxes is a barrier to entry (2) why the barrier is so extreme that no other currency has a chance (3) given that there are hundreds of currencies that enter the US banking system and the USA itself in amounts of billions of nominal dollars every day.

In other words, sir, you are merely making a baseless assertion trying to explain a fundamental fact.

[Domalais]

Why do you believe that FRNs would continue to be used as money if there were no compulsion of force to do so?

Because they are used freely in numerous countries throughout the world despite lack of compulsion in those places.

[Black Flag]

Because they are used freely in numerous countries throughout the world despite lack of compulsion in those places.

That is my argument as well.

[truetube]

LOL baseball cards can be money too

[Travlyr]

Because they are used freely in numerous countries throughout the world despite lack of compulsion in those places.

Only because they are forced upon people. Dollars have value in America because legal tender laws, business regulations, and taxing authorities make the use of commodity money very difficult to use. The capital gains tax on money, the IRS tracking transactions, and the FBI hunting people down who coin precious metal rounds to put them in jail leaves most people to simply accept the worthless FRN's that lose value every day. Since FRN's are the most common currency in America, and the empire has kicked the shit out of people who use commodity money... yeah... either pay for your oil in FRN's or lose your dictatorship.

[Black Flag]

LOL baseball cards can be money too

It is very remotely possible

[Black Flag]

Only because they are forced upon people.

You keep saying this lie.

They are not forced on you.
You cannot provide any examples of such.


You are making up bad stories.

[Bern]

You must explain why you believe (1) taxes is a barrier to entry (2) why the barrier is so extreme that no other currency has a chance (3) given that there are hundreds of currencies that enter the US banking system and the USA itself in amounts of billions of nominal dollars every day.
...

1 - Gresham's Law
2 - Gresham's Law
3 - Completely irrelevant

You would likely understand the issue if you thought through the steps and consequences of trying to use gold or silver to conduct a business transaction right now (hint - increased costs from capital gains taxes in converting metals to FRNs to pay sales taxes directly leads to actualization of Gresham's Law). Or if you took the time to honestly answer the question posed to you about whether or not you personally oppose or support HR 1098.

[Black Flag]

[QUOTE=Bern;4291845]

As usual, you have no answer to the direct and pertinent questions to support your irrational claims

You would likely understand the issue if you thought through the steps and consequences of trying to use gold or silver to conduct a business transaction right now

I do and there are no issues.

(hint - increased costs from capital gains taxes in converting metals to FRNs to pay sales taxes directly leads to actualization of Gresham's Law).

I do not need to convert a darn thing.

By what claim do you hold creating such a requirement???

Or if you took the time to honestly answer the question posed to you about whether or not you personally oppose or support HR 1098.

My opinion on this is completely irrelevant to support or deny your claims of "forced to use FRN" or "barrier to entry" claims.

[Bern]

lol.