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<p>[QUOTE=&quot;InfleXion, post: 1634648, member: 29012&quot;]Yes, they are fungible, but to meet the requirements of a unit of account and a store of wealth something must be fungible and divisible and durable and portable.&nbsp; </p><p><br /></p><p>And yes, the value of gold was set long ago. Genesis Chapter 2, the 2nd chapter of the entire good book specifically says that gold is good.&nbsp; </p><p><br /></p><p>I would even go as far as to say that gold has no value outside the human mind. In fact nothing has value outside of that since value is whatever we deem it to be. Usefulness on the other hand, gold is relatively useful, but there are better and cheaper alternatives for everything that gold does so it really has no &quot;practical&quot; use at today&#039;s prices.&nbsp; </p><p><br /></p><p>So then, why is it so valuable? Gold has over the course of time consistently fulfilled the role of money because that is what it is good at (see the 4 rules I mentioned earlier). Since that is in fact really the only practical use gold has, and has always had, and nothing else is as practical for that due to having other uses (silver for example is industrial and so does not make as good of money as gold, although it is certainly better than any non-metal), gold is the true barometer for currency power and not much else. It&#039;s not that gold has inflated valuation. It is that currency has inflated supply, and gold simply reflects that.[/QUOTE]</p><p><br /></p>

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