Arcanist wrote:
DUUUUHHHHH, a real means of exchange (currency) it worth nothing more than the value we assign to it, which is why gold is no longer used for day to day purchases.
LOL You are so misinformed and incorrect in that statement, I literally had to hold my head in my hands and sigh. What you are talking about, my ignorant fellow, is fiat currency (currency that is NOT backed by gold or any other real commodity, but backed by nothing/debt). It is not based off of the value WE put on it, but the value that was once associated with that currency, adjusted over the years for inflation, or the value that is perceived through other specific means. Be it coercion (use of violence by the government), or like in the dollar's case, it was once backed by gold and obtained #1 world currency status (because of gold, you know that "useless" metal you think is no good for transactions), and people around the world still actually think/act like the dollar is backed by gold. But like ALL fiat currencies throughout history, it eventually becomes perceived for its TRUE value: ABSOLUTELY NOTHING.
Also, the reason why we stopped using gold/silver to back transactions (since only 1971 with the repeal of the Glass-Steagall Act :/) is because the government wants to spend, but they have to get revenue from taxes. But taxes make them unpopular. So the best way is to instill a Central Bank to print fiat currency and tell dolts like you its worth something. Then, they incrementally inflate away the purchasing power of said currency, effectively stealing your wealth away without you ever even noticing because the average person (like you) is too dumb to understand how inflation works or the wealth transfer mechanism that is engrained within it. Please do your homework about the origin of money/currency and banking before spewing out more clueless bullshit about the subject.
Arcanist wrote:I personally have a few RoB, so I know what they are, it's just that after I had a pearl nechlas and 2 RoB for each of my chars, I would no longer want pearls.
But others want them. Therefore, you can trade them for something you DO want, i.e. it is a currency.... :/
Arcanist wrote:which is why gold is no longer used for day to day purchases.
So you're saying gold is worthless? Why is it $1600+ an ounce then? Also, why was gold $35 an ounce in 1930 (when the dollar was actually backed by gold)? Inflation?
LOL