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No, it isnt. NOBODY is using gold as a medium of exchange. They used to use it in the past (even until recently in some places) and, hopefully, they will do it in the future, but they arent doing it presently.

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Demandite is the word used by mineral economists to describe the materials that must be provided usually by mining to meet the needs of civilization.

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Last week I had the great pleasure of attending a talk by Peter Kaufman on the Multidisciplinary Approach to Thinking. I would like to thank Mr. Kaufman for

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Source: Silver Institute. The Silver Institute tells us there were 735 million ozs. of Ag mined from the earths crust in 2010. Simple math [735 80.4] tells us that nature is implying that the gold silver ratio should be 9.14: 1.

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I came across a Bitcoin explainer the other day called The Trust Machine: The Story of Bitcoin.I thought it was very thoughtful presentation and I encourage anyone who's interested in Bitcoin to view it (less than 25 minutes).

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mining and refining of minerals/jewels; steel, metal fabrication; petroleum extraction and refining, natural gas and natural gas liquefaction, fishing and fish processing, cement, glass, textiles, clothing, food processing, beer,

Paper Money vs. Gold Money US 38 year cycle

Paper Money vs. Gold Money In 1913 the US took a big step away from gold when it authorized the Federal Reserve to issue paper notes that were only 40% backed by gold while claiming they were fully convertible.

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