The Quest for Intrinsic Value

Author: Discipulus_Didicit

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#1
Discipulus_Didicit
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Fiat money by definition has no intrinsic value. It's value is given to it by social consensus and government backing. Is this lack of intrinsic value a signifigant weakness though?

Some suggest the alternative of gold or silver standard currency. A silver standard currency for example would not have the same problem of relying on government backing. You see, a person can exchange their silver-backed bill for actual silver at any time with... uh.... with the government. Right. Hmm.

The problem of social consensus is similarly done away with. After exchanging your bills for a few shiny ounces of silver you now have a highly valueable resource. Just as food is valued because it can stave off hunger and wood valued because it can build a house - both being things that not just a select few but in fact everyone can always make direct use of - so too is silver valued for... well... I guess if you have no direct uses for it you can exchange it for some food or wood. Yes, silver will always be useful for buying things from other members of society because society agrees... wait a minute...
#2
RationalMadman
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Money has intrinsic value, people like you and secularmerlin are just too foolish to see it.

There's no way to say it that doesn't insult you, so I'm sorry if you go cry to bsh1 but I had to tell you straight.

Unless you live in a super-capitalist shithole, there's usually a common denominator in the impoverished; they're ignorant and stupid ('and' implying I know the two are not the same, they are usually both).

If you're in a very capitalist nation and born poor, sure you do have genuine excuses as your 'stupidity' can be due to such a severely dehydrated, malnourished brain from birth through to your entire time in school and thus the brain never developed properly (not just because of you not taking in what you were taught, puberty is irreversible, whether it went bad or good for you hormonally it carries through in life). So, unless you're some Bangladeshi slum-dweller or Nigerian farmboy/farmgirl, you kind of don't have much of an excuse.

Note: This is not about being unemployed. People who are high in intelligence and knowledge end up able to cope severely well during unemployment compared with the stupid and ignorant counterparts, respectively.
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#3
Discipulus_Didicit
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@RationalMadman
Money has intrinsic value, people like you and secularmerlin are just too foolish to see it.

Let's test your reading comprehension skills. Based just on the OP would you say that I am for or against a fiat money system?
#4
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@Discipulus_Didicit
Against the alternatives other than perhaps RBE.
#5
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@RationalMadman
A better definition of fiat money is money that is backed by or convertible to a commodity. Intrinsic I don't know that anything could really be said to have intrinsic value. All value is subjective and/or dependent on circumstances.

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#6
Discipulus_Didicit
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@RationalMadman
Against the alternatives other than perhaps RBE.

Me? seriously? No, I am very much in favor of the fiat currency model. You bombed that reading comprehension test for sure.
#7
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@Stronn
orgasms are fucking subjective, does it mean you will like to never have one? Are you a shaolin monk?
#8
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@Stronn
All value is subjective and/or dependent on circumstances.
Rational, logical common sense still exists at DArt. Yay!

Someday we can hope it also will rule along side spirituality and morally civilized systems of governance.

...'Ask not what we can do for ourselves but what we can do for humanity'...... John F Morality { 2052 }



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#9
Discipulus_Didicit
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@Stronn
Intrinsic I don't know that anything could really be said to have intrinsic value. All value is subjective and/or dependent on circumstances.

I think it is possible for things to have intrinsic value, I just don't think intrinsic value in our currency is necessary for a sound financial system.
#10
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@Discipulus_Didicit
I just don't think intrinsic value in our currency is necessary for a sound financial system.
"sound" = stable financial systems

All financial systems are temporarily stable at best.

Those who have the financial{ gold } make the rules of the financial system.

Same goes for judicial, congress and executive.

It is all rigged. The rigging of a sailing ship is what gave it stability, at least until enough waves//wind of protest sank the ship.


#11
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When you are starving and need some food, when you are homeless and need some shelter... Yeah, you won't be saying money has no intrinsic value then.

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#12
Discipulus_Didicit
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@RationalMadman
When you are starving and need some food, when you are homeless and need some shelter... Yeah, you won't be saying money has no intrinsic value then.
It is sickeningly obvious to anyone with basic reading comprehension skills actually reading what I type that I think money has value.

However, your posts here demonstrate a gross misunderstanding of what the word "intrinsic" means. Perhaps you should start there and return after you are done.
#13
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@Discipulus_Didicit
Wrong. People like you think money has no value unless we say it does. It doesn't matter what you think about money, it has value.
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#14
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@RationalMadman
People like you think money has no value unless we say it does.

Right.

It doesn't matter what you think about money, it has value.

Never said it doesn't, weirdo.
#15
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@Discipulus_Didicit
keep using such terms and tone and I will remind you of the Code of Conduct
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#16
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@RationalMadman
Terms like what? value? intrinsic? weirdo?
#17
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@Discipulus_Didicit
It is not the value to the money that is applied by human society. It is the acknowledgement of an inevitable, necessary SELF-INCREASING (it is valuable to itself via concepts like interest, saving, short-term vs long-term usage of it) yeah that is not some bullshit that is invented by society.

All societies have a money, some just don't know it yet.
#18
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@Discipulus_Didicit

Fiat money by definition has no intrinsic value. It's value is given to it by social consensus and government backing.


Using that flawed reasoning nothing possesses intrinsic value as everything that possesses value is given to it by social consensus and government backing.

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#19
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@askbob
I disagree but let's assume that is true, is that a bad thing?