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Episodes & Show Prep / Re: 2013-10-25
« on: October 31, 2013, 12:32:51 PM »
Regarding the bitcoin caller . . . He was saying gold is always gold, something tangible, but not bitcoins. They could be zapped out of thin air in an EMP. Also, anything can be hacked, so I think that was his hesitancy to be on board with bitcoins. That and the fact that if the grid goes down, you don't have your bitcoins whereas you would still have your gold or something else tangible 
Concerning value . . . While it's true that the PRICE of gold fluctuates up and down, that's because it's measured in federal reserve notes, which is not constant. It's not actually gold that's going up and down in value, it's the dollar. When gold was $20/ounce, it wasn't actually worth 10 times less than when it was $200/ounce. It just took 10 times more dollars to equal that ounce of gold because the dollars were worth LESS.
Concerning value . . . While it's true that the PRICE of gold fluctuates up and down, that's because it's measured in federal reserve notes, which is not constant. It's not actually gold that's going up and down in value, it's the dollar. When gold was $20/ounce, it wasn't actually worth 10 times less than when it was $200/ounce. It just took 10 times more dollars to equal that ounce of gold because the dollars were worth LESS.
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