Monday, September 14, 2015

Cumbersome Gold and Silver Money

I have sometimes said in conversations that the dollar should not have been taken off the gold standard.  In fact, there should be no dollar at all.  People should use gold and silver coins for all money.  Usually the response will be, "It would be hard to carry gold because it would be heavy."

It can be hard to explain things to a person who thinks this.  Obviously there are big gaps in their thinking and you don't know what the gaps are.  I may say, "How much do you think gold weighs?"  But they don't know what an ounce is, nor have they ever heard of a troy ounce.  If you say, "An ounce of gold is worth $1109 right now.  Do you need to carry $1109 very often?  Do you need to carry more than that?"  "Sometimes!" they exclaim.  Well, it doesn't matter what you say, because if you try to say that if you need more than that, you carry two ounces.  But they don't seem to know what an ounce is.  If you say there are 14. 583 troy ounces in a pound, before you can finish the sentence they will shout at you that they think a pound is too much to carry, never understanding you would be carrying $16,172.  "Well, I SURE don't want to carry around $16,172!" they say.  

You can't fight airheads.  There are too many of them.  

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