What Kind of Money do You Want Post-Y2K>greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
Finacial Times (London) has an article about the growing acceptance of e-gold
Do you want a money banking systems designed to manipulate, control and rob you (government central banking, like the Federal Reserve), or an honest type system?
-- A (A@AisA.com), July 16, 1999
Physical gold and silver will be fine thank you...
scratchin' at the door...
-- Dog (Desert Dog@-sand.com), July 16, 1999.
Honest?? What a joke. Every system can be circumvented in some way.
Assuming we survive Y2K, ya might as well go with some electronic credit system - ya know, like on Star Trek, and forget gold altogether.
Hey it worked for Captain Kirk.
-- (email@example.com), July 16, 1999.
e-gold doesn't cut it. Its the equivalent of saying: "I think I'll withdraw all my money from the bank so I know it will be safe from Y2K problems. And I will then convert it to TRAVELERS CHECKS." Absolutely useless for Y2K!
e-gold may have some good things going for it, I don't know. But I guarantee you that Y2K is not one of them!
-- King of Spain (firstname.lastname@example.org), July 16, 1999.
Requirements: useable, readily accessible, trusted world wide, fits in existing accounts and wallet, and finally (most important) enough of it.
I don't think this will have much significant impact - the survivial point of gold is that is physically present - the disadvantage is that it is physically present, and must be carried, accepted where the customer actually is (corner store? gas station? mortgage? - these are easiest taken care of with a central account and ecommerce - as now)
Also, gold, being present - is too combersome to use "out of town" - mos tof my bills and accounts are out of town - and so couldn't be paid by gold "at any weight".
If you consider e-gold - then all the access problems and central control of the regular account are present, and none of the "physically present" benefits of security and immediate access.
Gold is best as an investment. In extreme cases, in small coins - but hten use a whole lot of quarters - if you don't trust bills. But then what will everyone else use? They will still have bills - and the people selling things will have to accept bills to get bills to buy their stuff.
No, an internet investment in gold may be very profitable, but I'm skeptical of the pure monetary value.
-- Robert A Cook, PE (Kennesaw, GA) (email@example.com), July 16, 1999.
Is this a trick question?
I plan to barter with food. In my territory, very few possess gold. They live paycheck to paycheck.
Food will be the preferred barter. Ammo will be essential.
I won't tell anyone what I have in store for unwanted intruders. ;)
-- Randolph (firstname.lastname@example.org), July 16, 1999.
You know, there was a time that money WAS "e-gold" or "p-gold" anyway. What happened? The various central banks eventually disengaged the gold from the "monetary unit" and we got the fiat money system we enjoy today - and in the 1930's.
So, no. I wouldn't go with e-gold at all. No discernable difference betwixt that and the greenbacks in my wallet.
-- Jollyprez (email@example.com), July 16, 1999.
Salt was used for money in Roman times - hence the terms "salary" and "worth his salt". It could happen again.
Salt - the other white powder !
Got measuring cups?
-- biker (firstname.lastname@example.org), July 17, 1999.
Toilet paper. Hard to make and essential. Silver. Somewhat scarce, easy to move and accepted worldwide value. Antibiotics (via Mexico). If you need them, you will pay any price.
-- Bill (email@example.com), July 17, 1999.