Anonymous
Anonymous asked in Business & FinanceOther - Business & Finance · 5 months ago

What if everything is just not about paper money but we all trade only with precious minerals by weight?

16 Answers

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  • 5 months ago

    Super inefficient to confirm the value of precious materials...and every cashier would need to be an expert in grading gold...

  • 5 months ago

    I don't trade with precious minerals.

  • Judy
    Lv 7
    5 months ago

    Well, that would be inefficient and a real pain

  • 5 months ago

    That would a lot of heavy WEIGHT to carry around. Why do you think we opted for a light-weight medium? I suppose you think we ought to get rid of the wheel too.

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  • Pearl
    Lv 7
    5 months ago

    then everything rnight be a lot different

  • Anonymous
    5 months ago

    That would be rather inconvenient.

  • 5 months ago

    It'd be an enormous hassle. What minerals would you use? Some could be faked pretty easily. Denominations would be a problem--for instance, how would you buy a candy bar with gold? How would you buy stuff online? How would credit cards work? How would you deal with exchange rates when the prices of precious minerals are always fluctuating?

    I worked in machine shops for many years and synthetic rubies were very popular for tooling, for a hard, shiny surface that doesn't wear--like the jewels in watches. You can buy a 1/4" ruby sphere for like $20. And the only way to tell it from genuine natural ruby is that it doesn't have any flaws! Natural rubies are almost impossible to find these days and the price of gem-quality natural rubies is just astronomical! Likewise cubic zirconium--the only way to tell them from real diamonds is that they're so big! (We used man-made diamonds too, of course, but those wouldn't fool anyone).

    I think the big mistake is the idea that natural materials have intrinsic value. Gold, just for example, is worth a lot only because people agree it's worth a lot. It has very few actual practical uses, mostly to coat electrical contacts. In a SHTF situation, where nobody was making electronics, gold would be worthless. You can't eat it, or burn it to keep warm!

  • 5 months ago

    Hookers used to sell their bodies for diamonds so yeah

    Btw…if u ever read the writing on paper money it says it’s legal tender which is less heavy to carry around

  • Anonymous
    5 months ago

    Or just base the value of the dollar on a fixed quantity of gold

  • 5 months ago

    we'd be....maybe happier? less corruption, at least for a while

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