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<p>[QUOTE=&quot;GDJMSP, post: 925420, member: 112&quot;]You are thinking in terms of today. But think back to before coins were made.</p><p><br /></p><p>Gold and silver was used for two reasons. 1 - because it was soft enough to work and be used to make coins. And 2- because it was quite scarce. But there were metals back then that were considered to be even more valueable than gold and silver combined. Tin for example. That man that controled tin, ruled the known world.</p><p><br /></p><p>Prior to coinage gold and silver was only used for ornamentation, jewelry. And for the same 2 reasons. So it has been ingrained into humanity for thousands of years that the stuff was valueable. But that was only true among the populations that had figured out how to use the metal as jewelry.</p><p><br /></p><p>Think of the American Indian. When the white man came here searching for gold &amp; silver the Indians were amazed that the white wanted it at all. To them it was just a rock from the ground and had no value whatsoever. This was true of many other civilizations as well.</p><p><br /></p><p>So the value assigned to gold and silver was precisely because of people&#039;s belief in them and for no other reason.</p><p><br /></p><p>Now in today&#039;s world, what you claim is true. Any and every rock or mineral has its value determined by the possible uses that rock or mineral has and its scarcity or lack thereof. And because of that, everything, and I mean everything, has an intrinsic value - even dirt.</p><p><br /></p><p>Also in today&#039;s world gold &amp; silver exist in an abundance that earlier man never dreamed of. had they known of its abundance the belief in the value of the metals would never have been formed to begin with and today it just be another metal.</p><p><br /></p><p>The proof of this is quite simple. Consider, the thing we use to buy gold and silver is a piece of paper that has very little intrinsic value. Paper exist in vast quantities and is anybody&#039;s for the asking. But it is the monetary notes we make and use as money that allows us to purchase that gold and silver.</p><p><br /></p><p>And what gives that note its value ? Not a dang thing - except our belief in its value.</p><p><br /></p><p>Same for gold and silver.[/QUOTE]</p><p><br /></p>

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