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To: DannyTN

“The purpose of currency is facilitate business transactions, not to be a long term store of value.”

Who in the world told you THAT?? Money is a storage of labor as we are paid for our labors with it. When money is devalued it devalues our labor, our lives. It is theft.


75 posted on 06/23/2013 1:44:00 PM PDT by CodeToad (Liberals are bloodsucking ticks. We need to light the matchstick to burn them off. -786 +969)
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To: CodeToad
"Who in the world told you THAT?? Money is a storage of labor as we are paid for our labors with it. When money is devalued it devalues our labor, our lives. It is theft."

Any introductory text to MacroEconomics should cover that.

You may want money to be a long term store of value. But most people want currency to facilitate transactions. I certainly would have a slowly depreciating dollar that avoids deflationary depressions than to have a dollar that was linked to some commodity like Gold or Silver that was subject to manipulation by the likes of Soros and ilk and which would cause depressions every 20 years like we saw in the 1800's.

If you want a long term store of value put your currency into real assets. Real estate, precious metals, etc. Or invest it into stocks, bonds or other financial instruments that pay a return.

101 posted on 06/23/2013 11:09:57 PM PDT by DannyTN
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