BRICS gold backed currency

[OldenWisdom...قول بزرگ]

On the other hand, I will leave you just one question.

What is gold standard anyway? Who give gold the value it have today when gold is just one of the element in our periodic table same as silver, aluminium, mercury and every other element?

You dont have to answer that as I don't expect people like you, and especially you to be able to, and I will leave this discussion here.

Trying to stump me, you bot‽

I threw you a bone to chew on and you throw the periodic table at me... seriously?
But in a way it is good for all to see the champ of financial literacy!

The very fact that you asked and equated it with the rest of the periodic table... thanks for the laugh, dude!
It is a non corrosive, malleable metal that could be melted and re-minted ad infinitum. It is why we still find minted period coins to this day. A storer of value transcending time!

Which brings me to gold standard or any other for that matter, and problem(s) with it... as demonstrated... the paper could be printed in perpetuity with little or nothing backing it!
Which is where we stand today.
In other words "derived value" is an instrument of corruption.

 

[Skull and Bones]

Lol most people don't know this, but gold standard is created by accident by Sir Issac Newton (yes the same guy who gave us gravity) that ended the silver system people had been using in the last 4000 years.

Newton did that by overvalued the value of gold 15 (or 21 times in some publication) times and basically push silver dime into extinction. That's how a 200 years old gold system killed the 4000 years old silver system.

As for why he did that, thats depends on what book you read, it range from new world requirements more silver than gold to minting new gold coin put a lot of mula in Newton's pocket (he got a fee for every coin minted as the director of Royal Mint).

But anyway, had these people say we should revert back to silver system so as to curb inflation and rid the US from dictate monetary policy, that may have some sense, gold standard weren't really that well received from its creation and ran into serious trouble just 200 or so years into it's use is not really a good idea....

You have any authentic reading material for this?

 

[jhungary]

You have any authentic reading material for this?

About gold standard and how it replaced silver or about why Issac Newton did what it did?

There are tons of books on gold standard, I read quite a few of them in University back in the days its gonna take some time to look them up as it was almost a decade ago. Think one of them is "The rise and fall of gold standard" by Charles Morgan-Webb

As for why Issac Newton overvalued gold, that just people speculation off just about anywhere.

 

[jhungary]

Trying to stump me, you bot‽

I threw you a bone to chew on and you throw the periodic table at me... seriously?
But in a way it is good for all to see the champ of financial literacy!

The very fact that you asked and equated it with the rest of the periodic table... thanks for the laugh, dude!
It is a non corrosive, malleable metal that could be melted and re-minted ad infinitum. It is why we still find minted period coins to this day. A storer of value transcending time!

Which brings me to gold standard or any other for that matter, and problem(s) with it... as demonstrated... the paper could be printed in perpetuity with little or nothing backing it!
Which is where we stand today.
In other words "derived value" is an instrument of corruption.

You do know Gold is NEITHER the least oxidised metal (that would have been mercury) nor the most stable metal (that would be Iron 56) nor the most rarest non volatile metal (that would be Rhodium) You are not talking about embedding jewellery into them being Malleable does not quit matter if you strike it into coin, you don't even need to print anything on it as it's denotation is weight.

So tell me why gold, not even silver, which have similar structural properties that persisted for 4000 years as world currency standard which have literally all the advantage but none of its "fallacy" as you put it, have its value?

DA like you know shit but want to talk shit, it always make you look like Jim Carrey in Dumb and Dumber.

Go read some books and start formulate some point and then we will talk, otherwise I am not here to write stuff to entertain idiots like you. Thank You and good bye

 

[Skull and Bones]

About gold standard and how it replaced silver or about why Issac Newton did what it did?

There are tons of books on gold standard, I read quite a few of them in University back in the days its gonna take some time to look them up as it was almost a decade ago. Think one of them is "The rise and fall of gold standard" by Charles Morgan-Webb

As for why Issac Newton overvalued gold, that just people speculation off just about anywhere.

About Isaac Newton’s role

You do know Gold is NEITHER the least oxidised metal (that would have been mercury) nor the most stable metal (that would be Iron 56) nor the most rarest non volatile metal (that would be Rhodium)

So tell me why gold, not even silver, which have similar structural properties that persisted for 4000 years as world currency standard which have literally all the advantage but none of its "fallacy" as you put it, have its value?

DA like you know shit but want to talk shit, it always make you look like Jim Carrey in Dumb and Dumber.

Go read some books and start formulate some point and then we will talk, otherwise I am not here to write stuff to entertain idiots like you. Thank You and good bye

And there’s evidence that Gold’s price of somewhat artificially inflated because platinum, and palladium are much rarer than gold and difficult to mine, yet valued lower than gold.

If I have to take a bet on a metal, it will be platinum.

 

[jhungary]

About Isaac Newton’s role

You probably need Sir Issac Newton biography for that, most book I read in this topic are economy related (as I was doing a Master in international business back then) which only mention briefly on Newton Role in Royal Mint, his biography will probably give you more insight on the topic.

And there’s evidence that Gold’s price of somewhat artificially inflated because platinum, and palladium are much rarer than gold and difficult to mine, yet valued lower than gold.

If I have to take a bet on a metal, it will be platinum.

Yes, most people believe gold is over valued, the cost of extracting gold should mean gold price around 1800 per tray ounce. The overvalue is not big and mostly because of the demand of gold (which goes against the inflation value people arguing here) Here is a good article from Bloomberg

Pimco Says Gold Is Overvalued Now, But Has Long-Term Appeal

Gold still looks too expensive after recent declines, according to a Pimco managing director who says sticky inflation will make it difficult for the Federal Reserve to meaningfully cut rates.

www.bloomberg.com

As for if I were to take a bet on metal, if that is for investment or commodity trading or ETF, I will most likely bet on rare earth metal due to its demand. But if I am betting on a metal for currency purpose, I would go for a more common metal like Cadmium

 

[OldenWisdom...قول بزرگ]

You do know Gold is NEITHER the least oxidised metal (that would have been mercury) nor the most stable metal (that would be Iron 56) nor the most rarest non volatile metal (that would be Rhodium)

Again with the dingo ate my baby, J!

No one said least, most, rarest or rest of your parameters, except you!
Next you'll tell me the best coin is made with mercury or longest lasting, right?

Putting your hiney to good use!

So tell me why gold, not even silver that persisted for 4000 years as world currency standard which have literally all the advantage but none of its "fallacy" as you put it, have its value?

You still haven't come out of your 1940 gold standard bubble, right?

DA like you know shit but want to talk shit, it always make you look like Jim Carrey in Dumb and Dumber.

da da da...

Go read some books and start formulate some point and then we will talk, otherwise I am not here to write stuff to entertain idiots like you. Thank You and good bye

You perpetual liar with an audacity of pointing fingers is beyond me... but I know you'll keep responding. Perhaps that source of soliciting dough online though.
I mean I feel you ... you gotta eat too!

Best you do is entertain yourself... yet you chose to engage knowing full well the garbage won't work this time around.

Get lost!

 

[jhungary]

Again with the dingo ate my baby, J!

No one said least, most, rarest or rest of your parameters, except you!
Next you'll tell me the best coin is made with mercury or longest lasting, right?

Putting your hiney to good use!

That's not answering my question

My question is what give Gold its value on currency usage?

You still haven't come out of your 1940 gold standard bubble, right?

So you had no point? And it kinda sounded like you are still stuck in 1940 gold standard bubble, I never for any gold standard, you do.

da da da...

Again, so you had no point?

You perpetual liar with an audacity of pointing fingers is beyond me... but I know you'll keep responding. Perhaps that source of soliciting dough online though.
I mean I feel you ... you gotta eat too!

Best you do is entertain yourself... yet you chose to engage knowing full well the garbage won't work this time around.

Get lost!

Eat what?

The first paragraph of your post is saying no one say "least" or whatever which no one is asking, including me, my question is "What give Gold the value it has for currency?" So yes, what I eat is your illogical point, your ability to dodge any question.

There is a reason why I have 380+ rating and you had 2. And people here ask me for opinion, and no one give a flying fart about yours. And you jump on my post remember?? If you don't like what I say you don't need to reply, especially none of what you said literally counter anything I said at all.

There are people here I will go into deep and explain what and why it happen, there are people here I know while answering is futile but I still give it a try, you, are the third type of people, you live in your own world, any attempt to answer your post is a giant waste of time. Again, until one day you come up here with actual point but not "da da da" or rhetorical question, I am not going to reply to your post anymore, it's just a waste of my time.

Good bye

 

[OldenWisdom...قول بزرگ]

That's not answering my question

My question is what give Gold its value on currency usage?


So you had no point? And it kinda sounded like you are still stuck in 1940 gold standard bubble, I never for any gold standard, you do.




Again, so you had no point?

Eat what?

The first paragraph of your post is saying no one say "least" or whatever which no one is asking, including me, my question is "What give Gold the value it has for currency?" So yes, what I eat is your illogical point, your ability to dodge any question.

There is a reason why I have 380+ rating and you had 2. And people here ask me for opinion, and no one give a flying fart about yours. And you jump on my post remember?? If you don't like what I say you don't need to reply, especially none of what you said literally counter anything I said at all.

There are people here I will go into deep and explain what and why it happen, there are people here I know while answering is futile but I still give it a try, you, are the third type of people, you live in your own world, any attempt to answer your post is a giant waste of time. Again, until one day you come up here with actual point but not "da da da" or rhetorical question, I am not going to reply to your post anymore, it's just a waste of my time.

Good bye

Now how did I know that you'll keep blabbering on and on...
I like that you don't like being responded to, in kind!

Waste of your time?
waste of MY time, dude!
You literally live here ... eat those positive ratings!
Instead, I have to deal with professional ingots like you...


Let me put you in your place Juan! This is not your interrogation chamber!

And, for posterity in black and white.

If this dude had a smidgen of understanding he would have jotted it down for all to see instead he pulls his handbook...
perhaps googling or reading stuff was taking time. I get it...
Instead of running an open loop... dude check chatGPT, perhaps?
I only gave you enough rope to hang yourself...
Now move along and stop bothering me... because unlike you I really don't want to bother!

 

[Skull and Bones]

And he starts asking me questions... dude check chatGPT, may be?

@jhungary only if I had a nickel for every time people posted ChatGPT as a voice of God.

 

[jhungary]

@jhungary only if I had a nickel for every time people posted ChatGPT as a voice of God.

That only mean this dude is stupider than a machine.

But then, he posted 4 post in this topic I can't even see 1 point, and then he cold reply to my post just to tell me to get lost, that probably explains it

 

[Song Hong]

The BRICS group of emerging-market nations will discuss deepening the use of local currencies in trade between member states at a summit in South Africa next week, the nation’s ambassador to the bloc said.

The talks will focus on issues including the establishment of a common payments system, while a technical committee is likely to be formed to start considering a potential joint currency,

BRICS to Discuss Accelerated Use of Local Currencies at Summit

The BRICS group of emerging-market nations will discuss deepening the use of local currencies in trade between member states at a summit in South Africa next week, the nation’s ambassador to the bloc said.

www.bloomberg.com

 

[Viet]

So BRICS currency is just for media consumption without any substance.

Brics currency is made for propaganda purposes. It has no real value. Putin and Xi just want to make cheap anti west rhetoric.