Category: Gold backed fictions

This was a response detailing the fictions still embedded within ‘lawful money'(gold backed), how there is very little difference between a gold backed system and a fiat system:

I note that in your response you did not address the points regarding *conversion* that I have made nor the underlying fiction that allows these conversions to occur and be accepted by the majority. I’m going to re-state these because they are pertinent to the discussion *I’m* having which is about getting to the foundation of the fictions that are being pointed at individuals all over the globe.

Let’s look at what I was *actually* talking about: the fiction known as ‘gold backed money’. You said “gold is money because it has intristic [sic] value since it is rare and it takes a lot of work to dig it out of the earth.”

There are two broad issues embedded within your statement here: the first is, who says the gold is the money? Who decreed that the world needed money and that this was how it had to be? Who sets the intrinsic ‘value’ of gold in order to make it the money standard? Who is it that decides ‘this is how much it shall be worth’ and how is this value enforced?