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     8 years ago (edited)

    "Silver is poor mans gold" - JP Morgan
    and since John Pierpont Morgan was rich ,,, Gold was his money of choice.
    i.e it's easier to store 100 million of gold in bars than silver since it takes so much more space

    So based on the principle in that statement Silver s is embedded.
    How you have come up with that silver is debt because he didn't mentioned silver specifically , can only be referred to 1 of 2 things:

    1. You have no idea what you're taking about and not intelligent enough to make a logic conclusion of the principle of that quote
    2. You just wanna argue with me using arguments on a kids level.

    FYI,
    For an asset to be called money, it has to live up to a list of things,
    Such as:
    Durability.
    Portability.
    Divisibility.
    Uniformity.
    Limited supply.
    Acceptability.
    Store of value over time
    And a few more, you can read all about it here:
    https://www.stlouisfed.org/education/economic-lowdown-podcast-series/episode-9-functions-of-money

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       8 years ago (edited)

      Ouch

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