Case for Gold; Debating my Professor

[Bostwick]

@GilesStratton

KO. Of course, the alternative is that the notes trade at a discount and therefore become somewhat useless as money since they’d all be trading at different values, pushing us further back into barter.

Monies trade at discount today. Where is the international barter economy, wise guy?

[Stolz25]

@Anarchist Cain

And the supply of goods usually goes up by 3% a year. I’m speculating but I wouldn’t be surprised if gold does the same. Therefore with new gold, according to you comes new money. Therefore the production of dollars will raise to production of gold. Percent of dollars increased by percent of gold.

Why are you concerned with the creation of the dollars? The wealth has already been created when the gold was mined, whether you make the dollars or not.

[Laughing_Man]

@Stolz25

@Anarchist Cain

And the supply of goods usually goes up by 3% a year. I’m speculating but I wouldn’t be surprised if gold does the same. Therefore with new gold, according to you comes new money. Therefore the production of dollars will raise to production of gold. Percent of dollars increased by percent of gold.

Why are you concerned with the creation of the dollars? The wealth has already been created when the gold was mined, whether you make the dollars or not.

Wealth is created from investment. Not merely because of the existence of gold. Dollars represent a medium of exchange meant to reflect the purchasing power of gold [ or at least it use to ] thus merely increasing dollars in accordance with increase in the gold supply is not creating wealth.