Close but not quite. Yes, gold is controlled by the bankers and governments. Every money is of artificial value so that's a stupid argument. Unless you directly trade with goods and services, a symbolic value, recognized as sound money will be used for the transaction. Welcome to economy 101.
The question is what money is sound, reliable, universal and least subject to fluctuations and speculation.
You don't want your storage of value to be common, or easy to get, or disintegrate, so you look for a good symbol for it.
Rocks are one thing. Rocks worked at one point, but rocks are easy to get. So rocks were discarded. But gold, silver and copper require a massive effort to mine, refine and finally mint.
Bronze and Iron were tried at some point ... but they both rust and disintegrate. But gold, silver and to some extent, copper don't rust in the common way that iron or bronze does. They tarnish ... which actually protects the base metal.
So ... we have the reason why gold and sliver are far superior as stores of value than any other item short of direct barter.
The only thing money is ... is a middleman in the trading of goods.
Close but not quite. Yes, gold is controlled by the bankers and governments. Every money is of artificial value so that's a stupid argument. Unless you directly trade with goods and services, a symbolic value, recognized as sound money will be used for the transaction. Welcome to economy 101.
The question is what money is sound, reliable, universal and least subject to fluctuations and speculation.
Thank you for proving you are the 100 IQ guy.
Calling me stupid without addressing what I said is not the win you think it is. Ironically this is what the 100 IQ gang tends to do.
Money is a store of value.
Value is a property that society sets.
You don't want your storage of value to be common, or easy to get, or disintegrate, so you look for a good symbol for it.
Rocks are one thing. Rocks worked at one point, but rocks are easy to get. So rocks were discarded. But gold, silver and copper require a massive effort to mine, refine and finally mint.
Bronze and Iron were tried at some point ... but they both rust and disintegrate. But gold, silver and to some extent, copper don't rust in the common way that iron or bronze does. They tarnish ... which actually protects the base metal.
So ... we have the reason why gold and sliver are far superior as stores of value than any other item short of direct barter.
The only thing money is ... is a middleman in the trading of goods.