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To: M-cubed

“will you pay me in gold for my barrel of crude oil and my sack of coffee?”

That’s not how currency backing works. You don’t get the oil and coffee yourself.

“any commodity can be money”

No commodity can be money. Commodities are seperate to money. Commodities can back money, but it is not the same as money. We have money so we don’t have to barter commodities.

“over time...one becomes the standard”

Please read my post again. It contains important points that cannot be overridden by a simple argumentum ad antiquitum.


13 posted on 04/17/2011 6:47:10 PM PDT by Christian Engineer Mass (25ish Cambridge MA grad student. Many conservative Christians my age out there? __ Click my name)
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To: Christian Engineer Mass
Did you read the greenspan article??.....What parts do you disagree with?
19 posted on 04/17/2011 6:59:21 PM PDT by M-cubed
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To: Christian Engineer Mass
Hmmmmm........Not a peep.......from a 25 yr old smart ass....

“argumentum ad antiquitum”.<<<..I rest my case Your Honor!

66 posted on 04/19/2011 8:36:10 PM PDT by M-cubed
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