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This guy doesn't like precious metals.
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<p>[QUOTE="InfleXion, post: 1633803, member: 29012"]Seashells are not fungible, divisible, or durable. Gold is not special because it's rare. It's special because it fulfills the 4 rules of a unit of account (portability being the 4th). Nothing except for metals meets these 4 requirements. That is why they have value. If it were only because they were shiny they would lose half of their value as soon as you bought them, as with gemstones, but with metals you will only lose at most 5% on the entire spread if you immediately sold after purchase. That's the difference between intrinsic and perceived value.[/QUOTE]</p><p><br /></p>
[QUOTE="InfleXion, post: 1633803, member: 29012"]Seashells are not fungible, divisible, or durable. Gold is not special because it's rare. It's special because it fulfills the 4 rules of a unit of account (portability being the 4th). Nothing except for metals meets these 4 requirements. That is why they have value. If it were only because they were shiny they would lose half of their value as soon as you bought them, as with gemstones, but with metals you will only lose at most 5% on the entire spread if you immediately sold after purchase. That's the difference between intrinsic and perceived value.[/QUOTE]
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