Entry Submitted by Charles B at 1:12 PM ET on April 19, 2023
I ran some numbers with the calculator based on my home’s current estimated value from my realtor based on the current (dollar) value of gold, and then brought that down to 10% of the value when I made the offer to purchase this property in 2016 as values were returning to those of the initial construction sale in 2006, before the 2007-2008 collapse.
The result comes out to just over $200 per troy ounce of gold, but then the “dollar” is just a word for the value of a unit of exchange. A unit of exchange could be a bushel of wheat, a cow, duck, goat, 7.48 lb of water (a one gallon unit). Barter has always worked, but it’s easier to trade with a medium of exchange. It doesn’t matter whether you call it a rupee, dollar, rial, peso, baht, but it is easier to conduct transactions between a buyer and seller that results in each obtaining what they find useful, by using a medium of exchange (currency) than to track down someone with the cattle, shoes or wheat that a seller desires in exchange for a house, for example.
Since every nations’ currency is to initially exchange at par value (1:1), the label doesn’t appear to matter much. We could just label the world’s currencies as a “QGU” as one Quantum Gold Unit.
What do you think? Thank you for the food for thought as most of the states I’ve lived in were admitted to the union after 1871, so we have opportunity to change boundaries (remove the topographic barriers in current state boundaries that provided “geographic schizophrenics” as the mountains that lie between north and south Idaho, and east and west Montana, as two examples). The Oregon election efforts to form “Greater Idaho” could be entertained…
Charles B, Coeur d’Alene, Idaho
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