We should definitely have our economic policy determined by how fast the mining industry can pulls rocks out of the ground.

We should definitely have our economic policy determined by something independent of the federal reserves opinion of what our dollars value should be.

A guy walks into the sift. He posts a video supporting a theory. This theory was popular a century ago but was long ago discredited. Today it is supported by only a tiny fringe of qualified academics. He himself has no professional training or study on the topic, but has been drawn to this belief by a charismatic leader.

If that theory is creationism he gets called a backward zealot.

If that theory is he gold standard he gets a pat on the back.

Bernanke is correct.

We should make money based on Moon Rocks! I mean we have all of them!

Gold is FUNGIBLE!

Very disappointed in Paul for that question about diamonds.

>> ^MaxWilder:

Gold is FUNGIBLE!
Very disappointed in Paul for that question about diamonds.


Yeah, that's why diamonds can't be used as money and gold can.

You're making Paul's point.

>> ^marbles:

>> ^MaxWilder:
Gold is FUNGIBLE!
Very disappointed in Paul for that question about diamonds.

Yeah, that's why diamonds can't be used as money and gold can.
You're making Paul's point.


Yeah, but... holy crap. I can't for the life of me remember my line of logic from last night. I guess that's what I get for commenting late at night.

I still don't agree that "gold is money" any more than t-bills are money or oil is money. There are a lot of fungible assets that are valuable, and just because traditionally gold was used to make coins doesn't mean it is money.

I'm still open to arguments about returning to a gold standard, that's just not one I'll buy.