[Stiletto11]

Originally Posted by GratefulCitizen

When people want to work less, they look for a way to store wealth for future use.
Gold is supposedly one of those ways.

At its root, this is a problem of demographics -- too many old people and too few young people.
There is no way to guarantee the future price of services.

Here is the problem:
Somebody else has to want what you have for it to have tradable value.

Old people can't trade gold to other old people to take care of them in their old age.
They need the services of young people.

If young people are frozen out of trade because of lack of access to gold (or some other form of money), they'll just use something else.
Maybe bitcoin, maybe barter; but they won't need gold.

Young people can conduct an economy among themselves without old people.
The converse is not true (health insurance is a perfect example).

If the old manage to hoard capital and goods in an attempt to control the young, the young will just make their own.
It will temporarily be a lower standard of living than they otherwise might enjoy, but they'll muddle through.

Eventually, the older people will die, and they can't take it (capital and goods) with them.
All the young have to do is run out the clock.

People are the real wealth in this world -- children in particular.
We reap what we sow.

What's the collateral on the National Debt? Who is the mortgage holder. The word mortgage comes from the root word Morte (Death) mortgage means death grip. You need to look at the big picture not the Obama Care crap with the young paying for the old. Anything of intrinsic value can be bartered or traded. In the 1st Civil War the confederate soldiers traded tobacco for coffee with the invading Federalists.