And after the dust settles, the gold will be currency again, because some idiot nuked the Fed building and paper dollars will be just ugly papers.
People never learn from history.
The idea behind bank is that people lend money to bank for an interest and the bank lends it out with bigger interest. Bank takes risk with your money, e-gold doesn't.
I don't understand the part that "They could just as well skip the gold part, and hold the money for you". Gold is money.
Rocks might have been used or not. What speaks against it is that there are rocks, seashells and other things suggested eveywhere. Gold on the other hand was rare. And the gold is still used as a currency.
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And after the dust settles, the gold will be currency again, because some idiot nuked the Fed building and paper dollars will be just ugly papers. People never learn from history.
The idea behind bank is that people lend money to bank for an interest and the bank lends it out with bigger interest. Bank takes risk with your money, e-gold doesn't. I don't understand the part that "They could just as well skip the gold part, and hold the money for you". Gold is money.
Pot like any other organic material loses in it's value over time. Gold doesn't.
Rocks might have been used or not. What speaks against it is that there are rocks, seashells and other things suggested eveywhere. Gold on the other hand was rare. And the gold is still used as a currency.