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Gold & Money

Gold & Money

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Published by Frosty6677

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Published by: Frosty6677 on Mar 02, 2010
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Gold & Money
Unfortunately for the people of the world everything is going according to the New World Order Plan. But what is this New World Order Plan? In a nutshellthe Plan is this. The Dark Agenda of the secret planners of the New World Order is to reduce the world's population to a "sustainable" level "in perpetualbalance with nature" by a ruthless Population Control Agenda via Population and Reproduction Control. A Mass Culling of the People via Planned Parenthood,toxic adulteration of water and food supplies, release of weaponised man-made viruses, man-made pandemics, mass vaccination campaigns and a plannedThird World War. Then, the Dark Agenda will impose upon the drastically reduced world population a global feudal-fascist state with a World Government,World Religion, World Army, World Central Bank, World Currency and a micro-chipped population. In short, to kill 90% of the world's population and tocontrol all aspects of the human condition and thus rule everyone, everywhere from the cradle to the grave.
formal and adequate definition of money is surprisingly difficult to give since throughout human history what has beenperceived as money and the variety of objects enlisted as money is long indeed. Moreover, such a definition of money hasbeen complicated by the efforts of various writers who have striven to define the term such that it would give support andsuccour to their particular socio-economic theories. However, these difficulties notwithstanding a simple definition of moneycan be given:
Money is whatever people agree it is ...
Money is anything that is widely used for making payments and accounting for debts and credits
Furthermore, the greatest and most important function that money performs in society is, clearly, that it
facilitates exchange
wealth or value. Before money, men used the primitive system of barter; however, the period of mere barter hadpassed before the time of the great Hebrew Patriarch, Abraham
.2000 BC. This was because the move from pastoral existenceto urbanisation and the separation of employments into specialised fields necessitated a more sophisticated medium of exchange than barter could possibly afford. In short: urbanisation and industrial organisation is based upon the division of labour that is only possible through the agency of a
medium of exchange. This is because the increasing specialisation of labour established a social order in which the individual produced little or nothing for the direct satisfaction of his own wants,and had perforce to live by exchanging his product for the products of others. Such an arrangement could only endure if anarticle existed that would be willingly accepted by all for the fruits of their labours: that is, an agency of value -money- theindividual would accept for their special products. The adoption of money as an article of wealth exchange was crucial to thedevelopment of human society for it facilitated the growth of society from pastoralism to high culture and civilisation. For
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Gold & Money
without "money" the difficulty of bringing together persons with reciprocal wants would have been an insurmountable obstacleto that development of exchange, which alone made division of labour possible, which is the prerequisite to civilised existence.The second important function of money is to provide a ready means for estimating the
comparative values of differentcommodities
. For, common sense tells us that without some common object as a standard of comparison this would bepractically impossible. For example, if a clockmaker had only clocks and wanted to buy bread, meat or a horse, it wouldproblematical to determine how much bread he ought to obtain for a clock or how many clocks he should give for a horse.Moreover, the problems of equivalence increased as the number of commodities concerned increased, for each commoditywould have to be quoted in terms of every other commodity. Thus, the societal imperative through the ages and withincultures to establish a common currency of exchange or"common object"that could be used as a medium of exchange and todetermine comparative values of different commodities. By the selection of some particular article, the"common object,"asthe criterion the comparison of values is made much easier. Thus, the chosen commodity becomes a common denominator,common measure or"common object"of value in terms of which the value of all other goods are estimated. By such anarrangement, the"common object"–money- not only renders exchange possible by acting as an intermediate term in eachtransfer but also makes exchanges easier by making them definite.Throughout history there has been a great variety of "common objects"or"money"which have been used to supply the need of a circulating medium ranging from seashells, feathers, animal skins, cattle, sheep, goats, oxen, pig, amber, ivory, jade,glass beads, silver and gold coin, paper currency and, today, electronic debit cards. Consequently, money in its various formshas been the great agency for transmitting values from place to place. Furthermore, the Form of Money or is not importantsince these are so diverse and are merely
that represent economic value to a particular people at a specific in aconvenient and
commercially acceptable forms. Furthermore,"value"is a subjective and therefore a psychological concept,which is independent of the purely mechanical aspects of economics.Another important function of money arose at a later stage in Western culture when the economic infrastructure and itsparticipants became more sophisticated and trusting of each other and entered into relations arising from"contracts."That is,an agreement that something is to be done in the future for which payment will be given and received. Naturally, for anestimation of the value of that future act a standard is thus required and so money which has already acted as a medium of exchange and as a measure of value at a given time, performs a third function, by affording an approximate means of estimating the present value of the future act. Here, money may be regarded as a standard of value or of deferred payments.Thus, there are
important functions of Money:
That it supplies the common medium by which exchanges are made possible, that is, it facilitates exchange vis-à-vis wealth or value. Money is thus acommodity universally accepted in exchange for goods, services and for the discharge of debts or contracts.
That it supplies the common measure by which the comparative values of those exchanges are estimated. That is, to provide a ready means for estimating thecomparative values of different commodities. Money thus acts as a measure of value and a unit of account, a common standard that makes the operation ofthe price system possible and provides the basis for keeping accounts and calculating cost, profit, and loss.
That it supplies the standard by which future obligations are determined. That is, money affords an approximate means of estimating the present value of futureacts conveniently called"contracts"whereby it functions as"deferred payments."Money thus serves as a standard of deferred payments; the unit in which loans are made and future transactions are fixed providing the commonly accepted basis for borrowing and lending. Importantly, it facilitates credit the primaryfeature in the contemporary economy.
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Gold & Money
That it provides a store of wealth, a convenient form - high value in small bulk- in which to hold any income not immediately required for use. That is, moneyprovides a reserve of ready purchasing power and is the only completely liquid asset i.e. one readily convertible into other goods.
Briefly, then, money is a commodity accepted by consensus as a medium of economic exchange, i.e. the"common object."Itis the medium in which prices and values are expressed, it facilitates trade by circulating from person to person and country tocountry and it is the principal measure of wealth and acts as a store of value; for in no other way could a large body of wealthbe concentrated. However, although the term"money"has come to include anything that functions as money there has beenconsiderable hesitation in more prudent circles to extend the term to those forms of credit that are in modern societies thechief instrument of exchange e.g."Bonds"
he employment of metals as money material is a recent phenomenon in human history and was probablyinvented in Lydia when the king, Gyges, struck the earliest coins in the 7th century BC. These coins were called "staters"and were made of electrum, an alloy of gold and silver. Later, gold was coined, and, by the time of Croesus, the last king of Lydia (reigned
.560–46) renowned for his great wealth, gold and silver coins were incirculation. The Persians used the staters of Lydia, which were current there under Cyrus II the Great theeventual conqueror of Lydia. The Persians adopted the Lydian model, and coined both gold and silver coins called"darics", named after Darius Hystaspes (521-485 BC) who is reputed to have introduced the system into the Persian Empire. Asilver coin circulating in Persia in conjunction with the gold daric was the so-called silver darics, 20 of which were equivalent tothe gold daric, it was called the"siglos"and was known to the ancient Hebrews who translated this as"shekel"(Neh. 5:15) Base metals have been used frequently by past cultures; for instance, iron was widely used as currency inantiquity, especially in Greece. An early Chinese currency was a bimetallic coin minted in copper and iron, whichlater was used as a subsidiary coinage in Japan. This combination also figured in the first Hebrew coins. The useof copper as money has been more extensive than is the case in respect to the metals just mentioned. It, asstated, was used in China along with iron an early instance of bimetallism and it figured in the first Hebrew coins.Copper was the sole Roman coinage until 269 BC and it has endured as a part of the token coinage moderncurrencies. However, it is the intrinsic value of two metals –gold and silver- that has given them, the precious metals, pre-eminence as the media of exchange between people. Silver especially was a favourite material for money and was the chief form of money until the end of the 18th century. Silver was the principal Greek money material, as it was in Rome after 269BC as it was also the leading constituent in the currencies of medieval Europe. Although silver was until the end of the 18thcentury the chief form of money, and often looked on as forming the necessary standard substance of value, gold became pre-eminent as money in the Victorian era. Although gold was always treasured by past peoples its use as ubiquitous coinage is arecent phenomenon and until recently the pre-eminence of gold as money was beyond dispute.
Reasons for their Adoption as Monetary Standards
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