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<p>[QUOTE=&quot;mikem2000, post: 1861988, member: 30574&quot;]We are more in agreement than not, I usually say Gold is Fiat, once removed, and the point is just as you say &quot;overvalued based on its real technical use&quot;&nbsp; and that is the fiat like component.&nbsp; I do not believe Gold is fiat in its strictest sense.</p><p><br /></p><p>It is a lot closer to fiat than you might believe though.&nbsp; As you said, the market determines its value, well that is the exactly true for the fiat dollar.&nbsp; The USD trades on the open market, just as Gold does and goes up and down as the market dictates.&nbsp; The VALUE is not determined by the GOV.&nbsp; The government simply declared it as curreny.&nbsp; The market decides its value.</p><p><br /></p><p>So is Gold really that different just because it wasn&#039;t a&nbsp; &quot;government&quot; that decided it has value beyond its utilitarian use?[/QUOTE]</p><p><br /></p>

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