The Difference Between "Money" and "Currency" Is Like Comparing Black and White. By Gregory Mannarino
Below is a comment which I posted earlier on a blog which talked about "Money."
**I hope this clears up any confusion about what "Money" really is in a fiat currency world...
"The difference between money and currency is like comparing black and white. "Money" is supposed to back the "currency" in a fiat currency world. Today "money" in a fiat currency world is backed by nothing. "Money" today in a fiat currency world are units of debt, IOU's which are owned, and owed back to the issuing central bank plus interest which they print out of thin air."
Gregory Mannarino
Seriously! I been Keeping up with your Videos and now you're on Steemit. GREAT NEWS! Thank you so much for spreading Awareness!
If you need help editing your Post, or have question about Steemit! I'm here to help you get up to speed. Die Hard Fan
I am very happy to be here! Thank you.
thanks for the personal offer to join ..
Gold and silver is money , the rest is currency in my opinion
And for thousands of years both Gold and Silver have been Money, and they always will be.
i agree , it's in our DNA
Those damn Anunnaki and their lust for gold! With all far out there and strange stories aside, when the people who "own" the mudball want to preserve their wealth what do they buy and hoard? GOLD.......... nuff said.
Gold and Silver are just elements of the periodic table. What if A wanted to borrow some Gold from B? You would write on a paper "A owes me X amount of Gold". This paper now is currency as well. However, B would want something in exchange, right? B cannot expect to get back more than X gold, but A can give B another paper that says "C owes me Y amount of Silver". And welcome to today's economy. We cannot expect to get our favours back, so we trade papers that unite us all in a complicated but beautiful economic system.
There are melting setups available on ebay
And then along came GOLDMONEY.com and overnight everyone could use GOLD to make daily purchases for everything using your GoldMoney ATM card. The Future is here the Future is GoldMoney.
But still, you are not using the gold, you are just paying GoldMoney to put a tag on a chunk of gold with your name in it. Then you receive a receipt that you have X amount of gold. And then my comment repeats itself. Still, it is a good way to store wealth, but not to trade.
PD: By the way, do you know if GoldMoney do have as much gold as people claim to own? Maybe they are also printing money.
Goldmoney uses Brinks Storage so we are relying on Brinks to have the gold and I do wonder about it a lot. You can, with a click, receive physical gold to your address anywhere in the world. To trade Gold and silver you can use EToro.com Social Trading for non-professionals, great system.
You have to buy physical , not the paper market. Prepare yourself for an EMP lol
G- An unrelated comment- Now that you are a cryptocurrency fan, can you bring up Bitcoin on the Greg Hunter show the next time you are on? Or maybe get him to get a Bitcoin guest on? He has yet to have a Bitcoin related show. Thanks.
I will do that! Thank you.
Yes! And get him on Steemit too!
That is one thing a lot of people don't understand. In fact it took me getting on your You Tube channel a long time ago, to become aware of the difference in the two. It is also difficult for me to accept the idea that fiat dollars hold so little value and may not hold any value someday soon.
It is always a good idea to be holding assets other than the dollar.
Idealy bussiness and retailors should just start not accepting dollars would be nice.
I wish i can write i.o.u's to my credit card company.
Exactly!
We live in a society that the criminals are in charge
You are 100% correct.
Gold is the only real money - JP Morgan
Silver as well.
Good point. Silver may outperform gold, too. Platinum, Palladium or Rhodium can serve the purpose.
In my opinion silver WILL outperform gold, big time.
I agree with that, but be careful as the downside once a peak is reached is a bit more rapid than gold.
Yep, and they have a huge short position on silver so i believe we still have more of a downside to go before the aggressive move upward.
I agree with the analysis.
Hey Greg I have been watching your videos and I am hoping that you might weigh in on the upcoming juggling of holdings in the GDXJ. Is this pending selloff going to be a great buying opportunity and how long before you these miners share prices rebound? I think the whole sector might undergo a major pullback before rocketing higher, is this a pipe dream?
Gregory, i understand Silver is money, but a lot of its value is that its consumed. If the global economy collapses then demand for products which use silver will decrease as well. It seems like a global collpase would drop the price of silcer for a while until consumption startes to rise. I agree that in the long run, having physical will pay off and I own some. Im nust wondering if its better to hold some cash waiting for Silver to drop as the other minerals collapse before biuing more. I'm not arguing against buying more, just want to be educated on why Silver will avoid the mineral price decline?