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This guy doesn't like precious metals.
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<p>[QUOTE="Drusus, post: 1634780, member: 6370"]I thought that its rarity and difficulty to obtain weren't why its valuable...we are going all over the place. I would think either one is just fine seeing as though, as currency, their value is really just what we say it is. Certainly we buy our gold with paper no? If you are talking practicality, give me light paper banked by a central authority over Gold any day...both are pretty much useless without central authority setting value. Now as a commodity for its relatively modern practical uses...sure...but the price is so discordant with the practical industrial uses that it is cost prohibitive...certain still about 90% of all gold is worn and hoarded.</p><p><br /></p><p>There is nothing more irrational about gold than paper...both serve the same purpose in an economy and are relatively worthless in a practical sense without fiat value. Well...we dont use gold money anymore...thank god.[/QUOTE]</p><p><br /></p>
[QUOTE="Drusus, post: 1634780, member: 6370"]I thought that its rarity and difficulty to obtain weren't why its valuable...we are going all over the place. I would think either one is just fine seeing as though, as currency, their value is really just what we say it is. Certainly we buy our gold with paper no? If you are talking practicality, give me light paper banked by a central authority over Gold any day...both are pretty much useless without central authority setting value. Now as a commodity for its relatively modern practical uses...sure...but the price is so discordant with the practical industrial uses that it is cost prohibitive...certain still about 90% of all gold is worn and hoarded. There is nothing more irrational about gold than paper...both serve the same purpose in an economy and are relatively worthless in a practical sense without fiat value. Well...we dont use gold money anymore...thank god.[/QUOTE]
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