How is gold then valued?

[bailouts4ever]

Dear members of this forum,

I think I got my head around the concept of freegold. Yet, what remains open is:

If Gold gets demonetized, how is the stored wealth then valued?

Until now we could fiat wealth in numeric quantitative terms a.k.a. "I have 1,000 US$". In what way would gold then be denominated?

Greetings.

[KariZ]

Still fiat ofcourse.

It's not the fiat that's going to change. What will be different is the price of gold.

Grt!

[Rasta]

Dear members of this forum,

I think I got my head around the concept of freegold. Yet, what remains open is:

If Gold gets demonetized, how is the stored wealth then valued?

Until now we could fiat wealth in numeric quantitative terms a.k.a. "I have 1,000 US$". In what way would gold then be denominated?

Greetings.

Value and price my friend.

It will be priced in fiat, but impossible to value [on a constant basis] in fiat. In other words, you can pay €10, or $15 for a gram today. But next month, that might be €12 or $12 for a gram, and next year €14, or $15 Million for a gram.

[Paul]

a very good question (smile)

that is exactly why we need the one world reserve currency
to price and denominate the gold

gold can only be free when it is a claimfree hedge and nothing else.
gold can never be the only proxy for value because it isn't. the value is relative.

[KariZ]

a very good question (smile)

the value is relative.

http://en.wiktionary.org/wiki/relative

Adjective

2. Connected to or depending on something else; not absolute; comparative.

I think I know what that something else is...

[Paul]

no you don't, not even close

he is asking about gold and you can't possibly measure gold's relative worth in gold
it just isn't as simple as you want it to be my friend

[Boefke]

no you don't, not even close

he is asking about gold and you can't possibly measure gold's relative worth in gold
it just isn't as simple as you want it to be my friend

Or she? We don't now because our guest didn't introduve him/herself. It could even be Prete (http://www.blogger.com/profile/11587586218736522214) from New Delhi again?

[Paul]

haha
touche

(no not me. duh ...)

[Blondie]

Dear members of this forum,

I think I got my head around the concept of freegold. Yet, what remains open is:

If Gold gets demonetized, how is the stored wealth then valued?

Until now we could fiat wealth in numeric quantitative terms a.k.a. "I have 1,000 US$". In what way would gold then be denominated?

Greetings.

Gold is measured by weight.

Gold is not denominated in currency, rather currency is denominated in gold.

You can still quote wealth (stored value), but you quote it in weight in gold rather than currency units, eg "I have 5oz gold".

[Paul]

Dear members of this forum,

I think I got my head around the concept of freegold. Yet, what remains open is:

If Gold gets demonetized, how is the stored wealth then valued?

Until now we could fiat wealth in numeric quantitative terms a.k.a. "I have 1,000 US$". In what way would gold then be denominated?

Greetings.

Gold is measured by weight.

Gold is not denominated in currency, rather currency is denominated in gold.

You can still quote wealth (stored value), but you quote it in weight in gold rather than currency units, eg "I have 5oz gold".

good to see you here blondie,
have learned a lot of your thoughts in the past, and always enjoy reading them.

that said, I do not agree with you here (anymore) ...

weight does not give any information about te value of the gold.
the value of gold is, like with currency, just a matter of perception.
value is not a constant, there can never be a tangible univeral proxy for value.
to use gold for that will do injustice to the cyclic nature of markets ...

gold should be just a hedge against mismanagement of government. nothing more.