‘So what gives ‘gold’ value? It’s all psychology. If there is fear or uncertainty in the world, people for some odd reason will go buy gold even they don’t hold it physically. It’s an emotional statement based on fear.’
Yes the value of gold is psychological. The value of silver is that and its thousands of industrial uses. Gold has been used as a medium of exchange for roughly 4 thousand years, so I have heard. The value of everything is psychological, it is worth what someone else is willing to give for it. But you can’t print gold.
American fiat currency is backed by ‘the full faith and credit of’ nothing. It is backed by nothing. Every fiat currency ever tried has failed. At the present time the great unwashed American people are the only people in the world that don’t question its value and even they are waking up to its demise. With inflation easily noticed when you buy anything why hold dollars? It is a depreciating asset, I would rather hold food, it’s value is going up rapidly. The dollar does not even make good toilet paper, but if you have some you don’t need you are welcome to send it to me while it is still worth something. Better hurry.
Almost True. It is not backed by 'nothing', it is backed *ultimately* by the will of the American people, the American military forces and the 2nd Amendment.
At the present time the great unwashed American people are the only people in the world that don’t question its value and even they are waking up to its demise.
Untrue. The American people are not unwashed, your quip is disrespectful of the hundreds of millions of Americans that deserve better. Americans do question the value of their dollars but they are not 'waking up to its demise'. They question the economy and inflation just as they have in all generations past. Your quips here are full of hyperbole.
With inflation easily noticed when you buy anything why hold dollars? It is a depreciating asset, I would rather hold food, it’s value is going up rapidly.
If you can store food long enough, then you have a good point there. But I suspect it's a little bloviated with an emminent release of fartrous fartoxide.
The American people will not stop holding dollars to store walnuts in their basements. They will question economic policies that are the culprit in raising concern over the dollar's value. It is not dollars that are at fault here, it is government mismanaged policy making.
The dollar does not even make good toilet paper, but if you have some you don’t need you are welcome to send it to me while it is still worth something. Better hurry.
A quip that has no value and not even entertaining. You're out of your league here.