Paper money is worthless!

[ivanleo]

Can you please send me all your worthless paper money?

[MrEniena]

All value, not just the kind money has, is non-existent. It is merely a necessary fantasy in order to keep our society going because we need something to motivate us to contribute, work, etc. It 'd be nice if we could evolve to a point where we realize this is true and just the act of doing is its own reward that keeps us fed, productive, and willing to cooperate with one another.

But we've been dependent on monetary value for thousands of years that I doubt that will ever happen.

[GetWithZen]

Money, I feel, has no real value on one's life. What does money do? It is used to buy things. Some things we need, other things we want. I myself am on a journey and I hope it will take me to a small house with only enough money in my name to pay for the basic necessities. I know it is not the usual goal, but it is mine. I want to try to find true happiness. Money only gives you temporary happiness. When I was young I was poor, and very happy. I want that back.

[Clatterpinch]

Another thing to keep in mind is that paper is used for many purposes as well. Writing paper, printing paper, and even toilet paper are all very valuable tools.

[0muffins0]

@Clatterpinch That does not wash. A gold or silver coin is worth it's precious metal content. It is commodity money. A paper $10 bill contains a cents worth of paper, not ten dollars worth of paper. A fiat currency BY DEFINITION is not commodity money!

Bury an ounce of gold and $1700 in the ground and come back 300 years hence. Which has retained its value? Will the paper rectangles still be worth 100 times the value of the paper they're printed on? Obviously not.

[Clatterpinch]

Honestly, I would find no quarrel with my government making a switch to a cashless society, using credit chips as is done in science fiction movies, though it would have to be executed in an efficient way in which there would be little fear of counterfeiting, something I doubt the possibility of. That statement that pookpooki made was correct. Metal money is much more unwieldy than paper money, which means paper money serves the purpose that gold and silver attempted and failed to: convenience.

[0muffins0]

@Clatterpinch We always return to some form of precious metals standard because the economy/society needs a monetary system where people can't cheat the system via currency printing. If you can just print money then you can buy real things with that currency without doing anything productive in return. The money-printer becomes a parasite on society. Gold/silver are called 'honest money' because you can't print gold/silver and cheat the system.

[Clatterpinch]

@0muffins0 When money printing does result to an immense amount of inflation, then it would be a reasonable idea to abolish it in favor of metals or other such material that aren't as easily affected. However, as it stands now, I see little reason to return to a "gold standard" of money.

Also, I apologize for not further clarifying on gold and silver having little practical use. I meant it purely in terms of it as a currency.

[0muffins0]

@Clatterpinch Money printing happens when governments can't cover spending with tax revenues. When the choice is between money printing or unpopular mass sackings of government workers they will always pick printing. It is the easy way out in the short term but leads to crazy inflation and hyperinflation (see Argentina). So governments today will never opt for a gold/silver standard and immediate default/bankruptcy/mass sackings.

[0muffins0]

@Clatterpinch Also, gold IS money. Why do you think the central banks hold so much of the stuff?

Millions of citizens have also discovered that keeping their savings in gold and/or silver gives them a much greater return than if they'd kept their savings in bank accounts that pay interest rates that are below the rate of inflation. Gold/silver are being used as money again.

[0muffins0]

@Clatterpinch "Metal money is much more unwieldy than paper money, which means paper money serves the purpose that gold and silver attempted and failed to: convenience." - Thinking about that statement I realised that paper money is now more bulky than gold. One Sovereign (a penny-sized gold coin) is the same as thirty £10 notes. I would not be able to fold my wallet with all that paper in there! A Krugerrand coin (31.1g of gold) would be 110 £10 notes!

[Clatterpinch]

@0muffins0 Yeah, but the £10 note isn't the largest, is it? Why would you be carrying around that much money in tens instead of hundreds?

[0muffins0]

@Clatterpinch The largest denomination here is the £50 but no-one uses it, cash machines don't dispense them and banks only give you them if you ask specifically or if you're taking out several thousand pounds. £10 notes and £20 notes are what is used here, even for large sums. Even still, a full Krugerrand (just 31.1g of gold) would still be 22 £50 notes! A penny sized Sovereign would still be six of those big notes.

How many kilos of Zimbabwean notes would that be I wonder?

[Clatterpinch]

Gold, silver, and paper money all share something in common. They have little actual practical use, and only had value applied to them by humans. All value is relative to what people apply to an item.

[0muffins0]

@Clatterpinch Actually, silver is an industrial metal an we've been consuming more of it every year than is being mined. Gold is used for jewellery and electronics. Outside of the monetary vector, gold and silver have a supply, have a demand, and so have a price based upon supply and demand. Paper money has no use outside the monetary vector (except as toilet paper maybe) so, as we've seen many many times, often goes to zero value if printing becomes the only way to pay for government.

[Clatterpinch]

No. "Real" money isn't gold and silver. Money is only a representation of wealth, and gold and silver follow this same rule. Your possessions are your actual wealth. Since it'd be less reasonable to go to a store with bulky items from your house to barter with (and it'd still be unreasonable to use a massive amount of coins in place), paper money exists to serve as a representation of wealth, which can be traded for actual wealth (possessions and services to maintain your possessions).

[0muffins0]

@Clatterpinch It's important to understand the distinction between 'money' and 'currency'. As we keep seeing through history, good/successful money tends to be something that those responsible for the minting/printing of the money/currency can not rapidly or radically increase the quantity in circulation.

[SlashIsRockNRoll2010]

im liking the silver collection!

[pookpooki]

I also want to point out that the Federal Reserve Bank (misleading name!) is not federal at all. It is in fact privately owned by a group of trillionaire families of bankers. IT IS A BANKING CARTEL!!

The IRS is also...yep PRIVATE! Not a government agency at all + Americans are not legally obliged to pay income taxes because the 16th amendment was never properly ratified and it is in direct conflict with the 5th amendment which states that direct taxes, such as income tax, must be apportioned.

[pookpooki]

It is absolutely true, modern paper money is in reality completely worthless as it's printed at will out of thin air i.e. backed by nothing!

Paper money started life as paper guarantees for gold or silver which was stored into bank accounts. The banks quickly realised that people prefered not to redeem their paper guarantees for the precious metals because they found the convenience of paper more attractive than to carry sacks of metals around with them.

[0muffins0]

@pookpooki So true! When gold and silver were money banks were very limited by fractional reserve rules to how much paper currency they could loan into existence, because gold and silver could not be printed. Once we left the gold standard paper currency became the reserve requirement, so the more paper currency that was loaned out, the more reserves the banking system had and the more they could loan out again. This is partly why we've had all this inflation since 1971 and ...

[0muffins0]

@pookpooki ... and why the banks and the monetary system are doomed. To work, the system needs exponential debt growth ... forever. When that fails it's hyperdeflation and the bankruptcy of the entire banking system if the governments do nothing ... or hyperinflation if the government prints money to keep the exponential currency creation game going.

[KripDrip]

fake money is worth MORE than this so called real money.

Fake money: $100 dollar bills that can buy you stuff!

Real money: coins (pennies, dimes, nickles) that cant even get you a gumball!

[0muffins0]

@KripDrip Real money is gold and silver, which fake paper money used to represent. British notes even still have the promise to pay in real money printed on them despite being a lie these days. A couple of pre 1964 silver dimes will buy you a gallon of gas. They're still worth something because of the silver in them.

[xBRAINx21]

Brilliant my friend, you are the first to my knowledge, to feal the same way as I do about paper currency!

[0muffins0]

@xBRAINx21 There are many, many people like us on YouTube! Search for stellaconcepts, davincij15, drutter, crabbydogtrix, GuildF40, NowisEvollovetion, RainstormGB, silverfuturist and many, many others!

:)

[TheSilverWatch]

I completely agree with this demonstration. Spot on my friend. Buy Canadian Maple Leaf Silver 1 oz Bullion. It's the purest form of silver in coin form.  Cheers!

[alwayson09]

I agree 100%! Here in America I get direct deposit from work and then slide my little plastic card when I buy something and pay my bills online so it;s even worse, I never even see paper money really. Just numbers in a computer is all it is. Money really doesn't mean jack shit to me to be quite honest, just numbers. Acually quitting my job in the fall for full time school because its not even worth it anymore to work for shit basically.

[Matteger23]

@alwayson09 :)

[alwayson09]

@Matteger23 Thanks for the smiley and I really did quit my job BTW and returned to school full time, much happier now and life has improved drastically!

[yoseph125]

why do you want gold and silver?

[0muffins0]

@yoseph125 Because it's inflation-proof. It doesn't matter how much paper money the government prints, it won't devalue the value of gold or silver, unlike worthless paper money.

[Wikiman93]

I borrow this comment from some unknown american. That's Queen Elizabeth money

[0muffins0]

@Wikiman93 Well, she can have it back if she will give me gold or silver in return!

[OnlyGreatness007]

Hilarious. LOL But a really good point.

[soniclady89]

How much fake money did you have to spend to get 67 troy ounces of silver?

And . . . . where could anyone get it from? (*_*) ;)

very informative video!

[0muffins0]

I didn't *spend* any money. I just converted one sort of money (paper) into another sort of money (silver).

:D

You can get silver from ebay or the various online stores where you can buy bars and rounds too.

Search YouTube for "silver porn"

:)

[TadRapidly]

fiat currency is for one reason and only one reason: TO CONTROL and DESTROY the POPULACE.

[toddyr14]

So much shiny stuff :D

[RainstormGB]

10 pounds of what !!!!!!!!!!!

its like saying 10 kilos :)

great video

[DamnTwisted]

Pounds = Dollars = Yen

It is what the currency is called

[0muffins0]

The Pound was so called because it used to be a pound of pure silver.

[smaks500]

true!