tag:blogger.com,1999:blog-4912713243046142041.post5293146787521162820..comments2024-03-27T18:20:38.176-05:00Comments on TYWKIWDBI ("Tai-Wiki-Widbee"): Got any £1 coins? They may be counterfeit.Minnesotastanhttp://www.blogger.com/profile/01382888179579245181noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-4912713243046142041.post-64613241447050742982012-01-16T18:40:12.630-06:002012-01-16T18:40:12.630-06:00Thanks nolandda! Good ideas to contemplate.Thanks nolandda! Good ideas to contemplate.David Sutherlandhttps://www.blogger.com/profile/15742409386054558507noreply@blogger.comtag:blogger.com,1999:blog-4912713243046142041.post-8402642548533469782010-07-29T11:24:21.186-05:002010-07-29T11:24:21.186-05:00I don't understand how making coins out of mat...I don't understand how making coins out of material that is more valuable in any way mitigates the problem of counterfeiting. <br /><br />You can counterfeit silver or gold coins by producing coins of similar density and color using alloys. <br /><br />In fact it is much easier to embed anti-counterfeiting features in non-metal money tokens. The US Treasury <a href="http://www.newmoney.gov/newmoney/default.aspx" rel="nofollow">maintains a site describing the security features of our currency</a>. I think that it is a shame that almost no retailers train their cashiers to use these advanced features to detect counterfeiting. Instead they rely on the <a href="http://calladus.blogspot.com/2006/09/testing-counterfeit-money-detector-pen.html" rel="nofollow">truly bogus iodine pen</a>. <br /><br />Also I am philosophically suspect of any notion of "intrinsic value". <br /><br />Gold is a shiny rock. It has value because there is a finite amount of it and people want it given their current circumstances.<br /><br />Money is a government issued piece of paper. It has value because there is a finite amount of it and people want it given their current circumstances.<br /><br />In an extreme famine I would not give one grain of rice for all the gold on earth or all the US dollars ever printed. <br /><br />I like fiat money because it allows us to control inflation and deflation. It also protects us from our money changing value drastically as the precious metals market rises and falls dramatically.nolanddahttps://www.blogger.com/profile/12708768497461983779noreply@blogger.com