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<p>[QUOTE=&quot;mikem2000, post: 1860889, member: 30574&quot;]Figured it out????&nbsp; Or delcared it to have value.&nbsp; I think the later as in Fiat.&nbsp; For most things of true value, you don&#039;t need to &quot;figure it&quot; Do you need to figure out wheat has value? Do you need to figure out the land you grow the wheat on has value?&nbsp; Do you need to fugure out oil has value? Except fo the small utilitarian aspect of Gold, it only has value because people say so.&nbsp; That is it.&nbsp; Nothing inherent to it at all.&nbsp; No magical properties.&nbsp; </p><p><br /></p><p>This difference is important to grasp, since if Gold prices get to high, people can just say, I won&#039;t buy any, I don&#039;t need it anyway.&nbsp; Can people say that about foods and fuel. No, as food and fuel rises people are forcwed to pay the higher prices because these commodities have true value and folks need them&nbsp; Gold does not have true value, and nobody needs it.&nbsp;&nbsp; GOLD IS FIAT.&nbsp; I know that is a bitter pill for a stacker to swallow, but it is true.[/QUOTE]</p><p><br /></p>

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