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<p>[QUOTE="Michael K, post: 4244166, member: 78298"]But what makes it intrinsically valuable, since it really isn't good for much. You can make jewelry out of it, but in a crisis you can't eat it or wear it.</p><p>It's just because a value has been assigned to it, that is accepted by a majority.</p><p>This brainwashing that this worthless chunk of metal holds it's value will show itself to be just folly over the super-long term.</p><p>A lot of labor goes into finding it, and transforming it. But that is only because it is something that is presumed to have value. Supply and demand is a factor in the value. But you are just buying and selling it with paper money.</p><p>Paper money is just as worthless. It is used as a medium of exchange between people who accept that there is a tangible value attached to it. But in reality it's intangible.[/QUOTE]</p><p><br /></p>
[QUOTE="Michael K, post: 4244166, member: 78298"]But what makes it intrinsically valuable, since it really isn't good for much. You can make jewelry out of it, but in a crisis you can't eat it or wear it. It's just because a value has been assigned to it, that is accepted by a majority. This brainwashing that this worthless chunk of metal holds it's value will show itself to be just folly over the super-long term. A lot of labor goes into finding it, and transforming it. But that is only because it is something that is presumed to have value. Supply and demand is a factor in the value. But you are just buying and selling it with paper money. Paper money is just as worthless. It is used as a medium of exchange between people who accept that there is a tangible value attached to it. But in reality it's intangible.[/QUOTE]
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