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Small disclaimer: I haven't seen these videos yet, but given the reaction of the OP. I assume it is the same old "America needs gold-backed currency or else money has no value" or "money equals debt not labour" speech, so this is more of a comment on that.
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Given how often discussion of bitcoins comes up here, I'm sure most people are already aware of and comfortable with the idea that currency is a shared fiction, which only has value due to the belief that it has value. Granted, gold and silver do have valuable properties (electrical conductance and biocidality, respectively, among other thing), their value as means of making the trade of goods have uniform and granular parts (rather than trading based on specific items someone wants) is just a socially agreed upon arbitration.
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Given how often discussion of bitcoins comes up here, I'm sure most people are already aware of and comfortable with the idea that currency is a shared fiction, which only has value due to the belief that it has value. Granted, gold and silver do have valuable properties (electrical conductance and biocidality, respectively, among other thing), their value as means of making the trade of goods have uniform and granular parts (rather than trading based on specific items someone wants) is just a socially agreed upon arbitration.
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It's a useful arbitration, since someone may have something you want, and you don't have something they want. Without currency, this is intractable, but by giving them currency in exchange for their goods means you get what you want, and they get a promise that they can acquire what they want once they find the one who has it. Since trades can be deferred thusly, it makes everything much more convenient.
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It's a useful arbitration, since someone may have something you want, and you don't have something they want. Without currency, this is intractable, but by giving them currency in exchange for their goods means you get what you want, and they get a promise that they can acquire what they want once they find the one who has it. Since trades can be deferred thusly, it makes everything much more convenient.
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Silver & Gold - Hidden Secrets Of Money