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Author | Topic: The Giant Pool Of Money. Implications | |||||||||||||||||||||||||||
jar Member (Idle past 394 days) Posts: 34026 From: Texas!! Joined: |
Just remember where your towel is.
Anyone so limited that they can only spell a word one way is severely handicapped!
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New Cat's Eye Inactive Member |
Actually Buz, silver is not used in many electronic components because it is so corrosive. Actually, actually, being corrosive would mean that it is the one doing the damage I'm not aware of a term for a property of a metal for how resistant it is to corrosion... like, "Corrosibility" or something.
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Theodoric Member Posts: 9076 From: Northwest, WI, USA Joined: Member Rating: 3.7 |
having non-corrosive beauty Ever hear of tarnish? Facts don't lie or have an agenda. Facts are just facts
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jar Member (Idle past 394 days) Posts: 34026 From: Texas!! Joined: |
Catholic Scientist writes: Actually Buz, silver is not used in many electronic components because it is so corrosive. Actually, actually, being corrosive would mean that it is the one doing the damage I'm not aware of a term for a property of a metal for how resistant it is to corrosion... like, "Corrosibility" or something. You are right. Anyone so limited that they can only spell a word one way is severely handicapped!
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Phat Member Posts: 18262 From: Denver,Colorado USA Joined: Member Rating: 1.1 |
Crashfrog writes: Currently, the inflation rate is next to zero despite significant deficit spending by the government. Why is that? Because supply so currently outstrips demand. In fact the American economy is missing an estimated 1.5 trillion in demand for goods and services. Until handing out dollar bills actually increases competition for the finite number of goods and services available, inflation is impossible and it's stupid to worry about it. I've read lately that inflation will increase dramatically in the coming five years. Never really bothered to read why, but I will look into it. Do you disagree that it will occur?
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crashfrog Member (Idle past 1467 days) Posts: 19762 From: Silver Spring, MD Joined: |
Do you disagree that it will occur? Well, it depends. And I would simply point out that to go from our current inflation rate back to the "normal" GDP-growth positive inflation rate would be something on the order of a 300% increase in the rate of inflation. There's a fair bit of ambiguity in talking about the percentage of increase of a first-order derivative (expressed as a percentage) of the US price level.
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NoNukes Inactive Member |
Silver and gold are pretty useful, with their uses being primarily limited by their expense. Silver is used in many electrical applications. It is the best conductor or heat and electricity among all of them metals. Certainly it would replace copper in many applications, particularly at high frequencies in which current flow is limited to the "skin" of the conductor, if it were only a bit cheaper.
Silver is used in photographic film, and I believe that doctors used to put some kind of silver solution in babies eyes at birth, for reasons I cannot recall. Silver does indeed tarnish, but in many applications, corrosion of the surface is not the big issue if the tarnish or oxide adheres to the surface and protects the underlying metal. Gold is used all over the place. I don't believe there is a serious argument that gold and silver are not useful beyond their ornamental uses.
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crashfrog Member (Idle past 1467 days) Posts: 19762 From: Silver Spring, MD Joined: |
I don't believe there is a serious argument that gold and silver are not useful beyond their ornamental uses. I didn't make such an argument, and I was very aware of all of those uses for gold and silver when I said:
quote: You'll notice, hopefully, that what I said was "little", not "none."
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NoNukes Inactive Member |
You'll notice, hopefully, that what I said was "little", not "none." That's fine. But from my comments it should be clear that I take issue with saying that gold and silver have little intrinsic value. That's nonsense. Those metals are of great value even if we exclude purely ornamental uses.
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jar Member (Idle past 394 days) Posts: 34026 From: Texas!! Joined: |
How are gold and silver any different than any other commodity?
Anyone so limited that they can only spell a word one way is severely handicapped!
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crashfrog Member (Idle past 1467 days) Posts: 19762 From: Silver Spring, MD Joined: |
Those metals are of great value even if we exclude purely ornamental uses. We're arguing a matter of degrees, "little" vs "great." The point was that the metals have little intrinsic value for coinage aside from scarcity; sure, they're ductile and resistant to tarnish but so are titanium and aluminum and zinc. They're chosen as currency metals simply by tradition; their value in a coin is as much a function of fiat as paper money. There's no more inherent value in a gold coin than a dollar bill. Unless you're looking for raw materials to make jewelry or plate conductors. But most people aren't; the basic use case for a gold coin is as a coin, not melted down for industrial use.
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jar Member (Idle past 394 days) Posts: 34026 From: Texas!! Joined: |
Remember that during WWII it was the copper penny that had a high intrinsic value.
Anyone so limited that they can only spell a word one way is severely handicapped!
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NoNukes Inactive Member |
How are gold and silver any different than any other commodity?
The primary difference is one of perception. Other than that they used to back currency, and pundits aren't hawking them. If civilization crumbles, you sure cannot eat them as if they were pork bellies.
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jar Member (Idle past 394 days) Posts: 34026 From: Texas!! Joined: |
Where are they still used to back currency?
Anyone so limited that they can only spell a word one way is severely handicapped!
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NoNukes Inactive Member |
They're chosen as currency metals simply by tradition I don't think the history of gold in this country reflects that at all. People didn't rush out to California because they could mint coins. It wasn't until later that the first mints took precious metals and minted them into coins of standard weights. I'm really at a lose to assess your point. The scarcity does of course figure into the value of gold and silver, but isn't that true for every other metal as well. And of course essentially no 'regular folks' in the US uses gold coins for anything other than collecting and hoarding. You cannot spend gold igots. Edited by NoNukes, : No reason given.
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