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BaNK RuNS...
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That was a dry run. Once I am sent in that direction beware of what you asked for ;-)
WB7:
Thank the gods.
- Ned
I am afraid.
Very afraid...
Speaking of runs..... The reuben I had for lunh is catching up with me.
At least you aren't running dogs of the empire.
"Fascinating - they trade valuable goods and services for worthless paper, then store it beyond their control and wait to take it back at the custodian's permission. How can any civilization survive such inefficiency?"
"You're wasting your time, Spock - it's not logical to begin with."
You have captured the complete absurdity of the process in a nutshell.
Spock: Irrational: I see no difference between these Euros and Federation Credits.
KirK: Ever try to pay a Ferenghi hooker with Federation Credits?
Nice one ...
LOGICAL
"Spock, the people standing on the other side of the street aren't withdrawing their money from the bank."
"Highly illogical, Captain."
"They do not believe in paper money. They believe in precious metals.
Curious."
Good one
Is "wait in line for worthless fiat" Bizarro-world's "live long and prosper"?
"Well, Jim, There's No Intelligent Life On This Planet (The Local Life Forms Parked Their Savings in Fiat Ponzi Banks Instead of Gold)"
"Captain, I believe they called this 'doing it Greek-style."
George Washington
I doubt the Federation was on the Gold standard.
So they wouldn't really give a shit if it were Gold, Paper, or Romulan Ale.
Matter of fact during all the series and all the traders and aliens they met, no one ever exchanged Gold in any type of currency situation.
Even Voyager was a goods for goods or services exchange.
Gold became a quaint mineral.
Foyle- Keep your money in paper, its safe and will hold up in a crises. Arrogant fool!
http://www.youtube.com/watch?v=BEqTa_MQY68
"Gold Pressed Latinum" What ever that is. None the less, I saw Quark on "Deep Space 9" greedilly fonding it on multiple occasions. Physical, by any other name.
Ferengi used "Gold-Pressed Latinum" as currency.
Seb
Read my response to another post.
go back and watch Cowboys and Aliens...gold does very well in the galactic future
lasvegaspersona
So Cowboys and Aliens is now part of the Star Trek cannon?
Who would have thought that the Ferengi were the ones to have gotten it right?
Gold-Pressed Latinum
Latinum is a rare silver liquid used as currency by many worlds, most notably the Ferengi Alliance. Latinum cannot be replicated and the reasons for its rarity are unknown. Latinum is usually suspended within the element gold to produce the currency Gold Pressed Latinum (GPL)
It comes in:
Ref: http://www.stowiki.org/Gold-Pressed_Latinum
new metastar
http://www.trekprops.de/gold-pressed-latinum
gold pressed latinum
atinum – the ultimate Ferengi currency in the Star Trek universe. As discovered in the sixth season Episode of DS9 “Who mourns for Morn?“, the truly valuable component of gold pressed Latinum isn’t the outer shell, but the inside which is filled with a silvery liquid – similar to quicksilver in appearance – that is the Latinum itself. The outside is composed of gold, which is considered worthless since it can be easily replicated.
Anyway, Ferengi currency was a substance/an element. Similarity with a gold standard is obvious. If gold have been abundant or easily replicable on Earth, then we would not have used it as a currency either.
Seb
Cowrie shells have been used as currency, as have giant rocks.
Gold is just one of many things to be considered valuable in certain eras and areas.
http://www.cnbc.com//id/47446781
For the Rich, Diamonds are the New Stocks...
So what are the wealthy doing with their money?
Increasingly, they’re looking for hard assets, collectibles and real-estate. Just consider the headlines from the past week. Two trophy apartments in Manhattan sold for more than $50 million.
Yesterday, Sotheby’s sold $108 million worth of collectible jewelry in Geneva. The chart-topper was the $9.7 million sale of the Beau Sancy diamond, a 34.98 carat diamond that was first worn by Marie de Medici in 1610 at her coronation as Queen Consort of Henry IV.
Wealth experts say that while diamonds, mansions, art and wine may not appreciate as quickly as stocks, these less liquid assets are also unlikely to crash in value as quickly. And wearing the Beau Sancy or looking at a Picasso on the wall is a lot more pleasurable than watching the ticker.
Wealth experts say that while diamonds, mansions, art and wine may not appreciate as quickly as stocks, these less liquid assets are also unlikely to crash in value as quickly.
Wealth 'experts' don't know what they're talking about. The only thing maintaining these ridiculous prices is the spread between M0 and M3/M4. When that goes, look out below, Beau Sancy owner.
It's been so long since I have commented I duped. duh.
Wine is a very liquid asset. Just sayin.
Yeah, and when did cowrie shells stop being used as currency? When they were found in abundance on an island A LONG way away from where they were considered currency. What do you think happened? Thats right, the first guy with a ship loaded up and bought all the slaves cowrie shells could buy! The next guy didn't have as much luck, esp. when the British and Dutch would not even trade rum in return for useless sea shells!
So you are saying there is a golden beach somewhere, and we just haven't found it? GF, you are making yourself look like a paid poster, your line of thinking is so 'out there' for someone educated!
Well, Latinum might be the only thing the Star-Trek era civilisations can't replicate, but down here on Earth - which, presumably, is where you reside along with the rest of us - gold will do a lot better than fiat.
'Gully Foyle' - how ironic your choice of moniker. I'd bet you'd be right in there with the Presteigns, selling your countrymen down the river.
BigJim
"gold will do a lot better than fiat"
I beg to differ.
Gold and silver would be virtually useless after a collapse. And that doesn't even take into account how furtive one needs to be to protect the secret stash.
Land would be better than both. At least then you could grrow crops to feed yourself or trade. Or you can offer a trade for pasturage.
Gold and silver are for those trapped in linear thinking.
Ask anyone starving if they want a Gold coin or an egg.
http://www.survivalblog.com/2009/12/letter_re_the_bosnian_experien.html
Letter Re: The Bosnian ExperienceAmmo was good trading currency and could get you a meal at any time. Local paper currency was basically worthless but if you had foreign currency, then you were in better shape. At that time German Mark was most popular currency in Europe and could get you anything in former Yugoslavia during the war. The Gold and Silver were good to have but it was harder to find someone that would accept gold and silver as form of payment .
I see... we've gone from arguing that gold is useless because it can be replicated by the Ferengi, to arguing that it's useless because you can't eat it in post-rapture apocalypseland?
If the 'collapse' goes Mad Max maybe you would have been better off buying an APC or Sherman.
So you're going to find it easier to protect an entire farm than hide a few pocketfuls of gold coins, are you?
Gold and silver are for those who believe that after a reset, international trade will resume, and PM's worth will ultimately derive from other countries valuing it more than bits of inkjetted green paper.
If you're hunkering down in the woods expecting to be fighting off the cannibal hordes, good luck. The rest of us saw The Road and laughed.
Gully, you got reddies 'cuz your point is well made. There's day to day and there's "wealth conservation" Middle ground will be tough as you point out.
- Ned
Dude, Gold & Silver are full and final payment, as further proof with Iran trading her oil (Light Sweet, the good stuff) with China for Gold.
Best of luck people!
Agreed. We have become quite skilled at replicating fiat currencies.