Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
Bullion Investing
>
...and down she goes!
>
Reply to Thread
Message:
<p>[QUOTE="mikem2000, post: 1724940, member: 30574"]Well yeah, I certainly agree with most of that except the point about metal having an "inherent" value. It only has true value if there is a use for it. In the case of this theoretical total collapse, industrial and commercial demand would evaporate, and in that case, metal would just be reduced to another form of fiat. That is a bitter pill for the stacker crowd but it is the truth.</p><p><br /></p><p>To further the point, it is a common myth that metal, specifically gold, was always valued by all cultures. This is just not true as gold was considered worthless to the Native Americans who resided in what was to be California. It was not until the Europeans arrived that they placed a value on it. </p><p><br /></p><p>I have another mental picture in my head of a young Native American Brave finding a large gold nugget in a stream, and then throwing it back in the water thinking, "Too soft for an Arrowhead" As the young Brave got older and he "learned" the Europeans valued it, he now thought " Stupid White Man"[/QUOTE]</p><p><br /></p>
[QUOTE="mikem2000, post: 1724940, member: 30574"]Well yeah, I certainly agree with most of that except the point about metal having an "inherent" value. It only has true value if there is a use for it. In the case of this theoretical total collapse, industrial and commercial demand would evaporate, and in that case, metal would just be reduced to another form of fiat. That is a bitter pill for the stacker crowd but it is the truth. To further the point, it is a common myth that metal, specifically gold, was always valued by all cultures. This is just not true as gold was considered worthless to the Native Americans who resided in what was to be California. It was not until the Europeans arrived that they placed a value on it. I have another mental picture in my head of a young Native American Brave finding a large gold nugget in a stream, and then throwing it back in the water thinking, "Too soft for an Arrowhead" As the young Brave got older and he "learned" the Europeans valued it, he now thought " Stupid White Man"[/QUOTE]
Your name or email address:
Do you already have an account?
No, create an account now.
Yes, my password is:
Forgot your password?
Stay logged in
Coin Talk
Home
Forums
>
Coin Forums
>
Bullion Investing
>
...and down she goes!
>
Home
Home
Quick Links
Search Forums
Recent Activity
Recent Posts
Forums
Forums
Quick Links
Search Forums
Recent Posts
Competitions
Competitions
Quick Links
Competition Index
Rules, Terms & Conditions
Gallery
Gallery
Quick Links
Search Media
New Media
Showcase
Showcase
Quick Links
Search Items
Most Active Members
New Items
Directory
Directory
Quick Links
Directory Home
New Listings
Members
Members
Quick Links
Notable Members
Current Visitors
Recent Activity
New Profile Posts
Sponsors
Menu
Search
Search titles only
Posted by Member:
Separate names with a comma.
Newer Than:
Search this thread only
Search this forum only
Display results as threads
Useful Searches
Recent Posts
More...