Look Who it Was Random video

Is Gold Money? – Part 2

4,184 views · Published 13 September 2018 · 14:50 · Indexed 26 October 2026

Channel: The 2% Brief · 2018 · People & Blogs

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Is Gold Money? - Part 2

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Today is Thursday 13th September 2018 and we are asking the question is Gold Money – Part 2

On Sunday we put forward the argument why it is not – an argument normally proffered by the banking community. Today we shall look at the reasons as to why it should be regarded as money.
But first we wish to clear up an issue of what is the difference between money and currency.

There are many definitions, but one which seems to be most widely held, especially among the precious metal community is as follows:

Currency is what most people think money is!
It is a medium of exchange.
A unit of account. (it’s got numbers on it!).
It is portable.
It is durable.
It is divisible. (you can make change from it).
It is fungible (interchangeable).

Currency though is simply paper. This paper money is a tool for trading your time.

And Currency has no intrinsic value!

So, is Gold Money? Well it certainly has value which is why central banks buy it, Governments buy it, Asia buys it in serious quantities and the western world too buys it albeit on a relatively modest scale. It is not regarded as a currency in most places as one rarely can go into a shop and spend it, but it can be converted to one. 

So, what’s your opinion? Is gold money? Should gold be money? If so at what percentage should the US dollar be pegged to gold if at all? We would appreciate your thoughts and hope that we have given you some food for thought here. 

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