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 » The Lounge » Why do we use gold as a currency exchange rate?

Why do we use gold as a currency exchange rate?

+12
Metalzoic
TheGM
Chewy
Zillah
Pariah
Symbolic
Cubist Castle
Frostbyrn
The Adli Corporation
Ars Diaboli
MEGA MILK
Grey
16 posters

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Grey

Grey

When it's possibly the most useless metals.

MEGA MILK

MEGA MILK

Has to do with its rarity I believe.

Ars Diaboli

Ars Diaboli

It's shiny.

Grey

Grey

But it's useless. Why don't we use something like copper?

The Adli Corporation

The Adli Corporation

i think its because its so stable due to rarity, the price isnt likely to plummet since no-one is digging up millions of tonnes of it (like copper).

MEGA MILK

MEGA MILK

It's not about usefulness. Gold is rare. There is a shit ton of copper. Value is determined by how many people can get a hold of it.

Grey

Grey

Say there's no one around to sell it to. What would you do with a gold bar then?

MEGA MILK

MEGA MILK

Rainbow Vakarian wrote:Say there's no one around to sell it to. What would you do with a gold bar then?

You could shape it into something pretty, since it is so soft.

But something like this would probably only happen if, like, society collapsed or something like that.

Frostbyrn

Frostbyrn

MEGA MILK wrote: Value is determined by how many people can get a hold of it.

We should use your cock only you ever get ahold of that

The Adli Corporation

The Adli Corporation

Sir Shmoopy wrote:
MEGA MILK wrote: Value is determined by how many people can get a hold of it.

We should use your cock only you ever get ahold of that

oh no she DIINT!

MEGA MILK

MEGA MILK

Sir Shmoopy wrote:
MEGA MILK wrote: Value is determined by how many people can get a hold of it.

We should use your cock only you ever get ahold of that


Why do we use gold as a currency exchange rate? 1314299365309

Cubist Castle

Cubist Castle

Rainbow Vakarian wrote:Say there's no one around to sell it to. What would you do with a gold bar then?

Smash you in the head until you understand...

j/k.

Gold isn't really used as the standard any more. It has a value, and it can be converted into cash, and back again. However, it's not what the value of the dollar is based off of any longer. We use fiat currency, meaning that money has value because the government says it has value.

http://en.wikipedia.org/wiki/Nixon_Shock

Frostbyrn

Frostbyrn

Mario uses the same excuse

Grey

Grey

The Raddest wrote:
Rainbow Vakarian wrote:Say there's no one around to sell it to. What would you do with a gold bar then?

Smash you in the head until you understand...

j/k.

Gold isn't really used as the standard any more. It has a value, and it can be converted into cash, and back again. However, it's not what the value of the dollar is based off of any longer. We use fiat currency, meaning that money has value because the government says it has value.

http://en.wikipedia.org/wiki/Nixon_Shock

WTF?! Then... What... How... *puts finger on lips to think* Uuuuh... What?

Symbolic

Symbolic

Nogbad The Bad wrote:i think its because its so stable due to rarity, the price isnt likely to plummet since no-one is digging up millions of tonnes of it (like copper).

Oh you silly Brit, its tons. Very Happy

Pariah

Pariah

Rainbow Vakarian wrote:

WTF?! Then... What... How... *puts finger on lips to think* Uuuuh... What?
Basically, the dollar only has about as much as power as the government can promise. The current US Gold Reserve isnt enough to cover its monumental debt, and the dollar falls in value accordingly, because the government lost some of the faith of its people. The dollar really only has as much value as we assign it.

Zillah

Zillah

I think we should use uranium.. rare, AND useful.

Chewy

Chewy

Yeah money hasn't had any value for a long time. We've been passing around IOU's for quite a while now.

I agree with using uranium. Not to back currency, but as currency.

The Adli Corporation

The Adli Corporation

Symbolic wrote:
Nogbad The Bad wrote:i think its because its so stable due to rarity, the price isnt likely to plummet since no-one is digging up millions of tonnes of it (like copper).

Oh you silly Brit, its tons. Very Happy

Tonnes and Tons are different weights. its not a typo, i didnt mean tons.

Cubist Castle

Cubist Castle

Seriously, I can't stand that we haven't adapted to the metric system yet. It makes no fucking sense. I mean yeah, I can't envision a meter, and I think in feet and pounds, but I'll adjust. Just standardize the shit, already, because remembering how to make conversions is even more boggling.

Symbolic

Symbolic

Nogbad The Bad wrote:
Symbolic wrote:
Nogbad The Bad wrote:i think its because its so stable due to rarity, the price isnt likely to plummet since no-one is digging up millions of tonnes of it (like copper).

Oh you silly Brit, its tons. Very Happy

Tonnes and Tons are different weights. its not a typo, i didnt mean tons.

Confused.....I always thought tonnes was just Brit spelling. Kinda like color/colour. Hey you learn something every day.


http://en.wikipedia.org/wiki/Tonne


"The Imperial and US customary units comparable to the tonne are both spelled ton
in English, though they differ in mass. Pronunciation of tonne (the
word used in the United Kingdom) and ton is usually identical."

I see how I could be confused



Last edited by Symbolic on 2011-08-28, 18:05; edited 1 time in total

Grey

Grey

What about "armour" and "grey"?

The Adli Corporation

The Adli Corporation

Symbolic wrote:
Nogbad The Bad wrote:
Symbolic wrote:
Nogbad The Bad wrote:i think its because its so stable due to rarity, the price isnt likely to plummet since no-one is digging up millions of tonnes of it (like copper).

Oh you silly Brit, its tons. Very Happy

Tonnes and Tons are different weights. its not a typo, i didnt mean tons.

Confused.....I always thought tonnes was just Brit spelling. Kinda like color/colour. Hey you learn something every day.

Tonnes = Metric
Tons = Imperial / US

Zillah

Zillah

yeah, I think theres a metric gallon too thats like 20% larger.

Symbolic

Symbolic

Nogbad The Bad wrote:
Symbolic wrote:
Nogbad The Bad wrote:
Symbolic wrote:
Nogbad The Bad wrote:i think its because its so stable due to rarity, the price isnt likely to plummet since no-one is digging up millions of tonnes of it (like copper).

Oh you silly Brit, its tons. Very Happy

Tonnes and Tons are different weights. its not a typo, i didnt mean tons.

Confused.....I always thought tonnes was just Brit spelling. Kinda like color/colour. Hey you learn something every day.

Tonnes = Metric
Tons = Imperial / US


Yea I just edited my post with some crack research.

The Adli Corporation

The Adli Corporation

yeah thats the main reason it fucks everything up, unless its written down or you say metric before the units you cant tell Razz

and yeah, gray and grey are said the same.

Zillah

Zillah

Anyone ever heard of the weight measurement "slug"?

i never had till a few days ago...

Grey

Grey

I always liked the UK spelling more. Words like gray and color just looks boring and unattractive without those changes.

That could be where the word slug for shotguns come from. A full mass.

Cubist Castle

Cubist Castle

I like to spell it as "theatre."

And that makes me feel pretentious.

But whatever, fuck it.

The Adli Corporation

The Adli Corporation

Zillah wrote:Anyone ever heard of the weight measurement "slug"?

i never had till a few days ago...

yeah, its the hippies that refuse to 'harm the earth'. they cant use metal as that needs mining, so they have to use slugs instead.
they originally used hares and rabbits, but they kept jumping off the scales.
it was really hard to keep the currency exchange open, especially after the RSPCA got involved.

Symbolic

Symbolic

I hate the word Shoppe. Makes me want to kick a puppy.

The Adli Corporation

The Adli Corporation

Symbolic wrote:I hate the word Shoppe. Makes me want to kick a puppy.

Ye Olde Happee Shoppe

*flees*

Cubist Castle

Cubist Castle

Nogbad The Bad wrote:

Ye Olde Happee Shoppe

*flees*

*pukes blood*

GET BACK HERE YOU FUCKING TOSSER!

*falls over* omg... i'm... talking like them...

TheGM

TheGM

Ah yes because the vastly superior electro-conductive capabilities of gold make it useless right.

And we haven't been on the gold system since the 70's when Nixon Shock happened.

as for the metric system. That shit is french and fuck those guys. No really we tried that shit in the 70's for some reason. The conclusion was "Fuck that shit, it is lame"

The Adli Corporation

The Adli Corporation

hahah, you havent done 17th century england in history, thats some funny shit.

every document is Ye Olde Englishe, its hilarious. especially when you read it out loud with all the extra E's in an OTT accent Razz

Metalzoic

Metalzoic

Symbolic wrote:I hate the word Shoppe. Makes me want to kick a puppy.

Funny, me too. Irritates the shit out of me.

1fnbighen

1fnbighen

Zillah wrote:I think we should use uranium.. rare, AND useful.

that would suck. no offense. but think about that. that means if terrorists/ billionaires/ angry people get ahold of any sort of money they have the power to level a city becasue they, by law, are allowed to reimburse their money for urainium.

Frostbyrn

Frostbyrn

1fnbighen wrote:
Zillah wrote:I think we should use uranium.. rare, AND useful.

that would suck. no offense. but think about that. that means if terrorists/ billionaires/ angry people get ahold of any sort of money they have the power to level a city becasue they, by law, are allowed to reimburse their money for urainium.

Hence my MILKs Penis idea

If Terrorists/Billionaires or angry people get ahold of any sort of money they can feel free to trade it in for MILKs penis Very Happy

MEGA MILK

MEGA MILK

1fnbighen wrote:
Zillah wrote:I think we should use uranium.. rare, AND useful.

that would suck. no offense. but think about that. that means if terrorists/ billionaires/ angry people get ahold of any sort of money they have the power to level a city becasue they, by law, are allowed to reimburse their money for urainium.

Zillah confirmed for supporting terrorism and hating America.

chunckylover53



MEGA MILK wrote:
1fnbighen wrote:
Zillah wrote:I think we should use uranium.. rare, AND useful.

that would suck. no offense. but think about that. that means if terrorists/ billionaires/ angry people get ahold of any sort of money they have the power to level a city becasue they, by law, are allowed to reimburse their money for urainium.

Zillah confirmed for supporting terrorism and hating America.



Kill ZILLAH.

Zillah

Zillah

Crying or Very sad

grader

grader

Way to go Zillah.Not cool!Not cool at all!

Pariah

Pariah

The Raddest wrote:Seriously, I can't stand that we haven't adapted to the metric system yet. It makes no fucking sense. I mean yeah, I can't envision a meter, and I think in feet and pounds, but I'll adjust. Just standardize the shit, already, because remembering how to make conversions is even more boggling.
Seeing as I'm a european who was brought up here, you're american system is mindboggling to me. Everyone in america knows how much a liter is though. So...that something.

1fnbighen

1fnbighen

cause we drink so much soda

Grey

Grey

1fnbighen wrote:cause we drink so much soda

I never understood that. We drink gallons of milk, eat pounds of meat, but drink liters of soda. Somebody done goofed.

MEGA MILK

MEGA MILK

What if they sold Mountain Dew in gallons...

FUND IT!

1fnbighen

1fnbighen

holy shit. a gallon of mountain dew would,

probably kill me

JrTapia1991

JrTapia1991

mmmhhmm mountain dew Very Happy


all in all,I think one day the dollar is gonna be worth about as much as toilet paper....

stuff is rising in costs but people aren't making more money to make up for the inflation,or rather,the dollar falling in value...

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