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<p>[QUOTE=&quot;medoraman, post: 1576422, member: 26302&quot;]Its actually an interesting point. I read of the economic history of ancient Babylon, and gold was not particularly valuable there until the religious nobility started using it. Once they started having a demand for it, (ceremonial objects), and the price went up, then the nobility started using it more. This increased price even further, increasing demand even further. It was an upward spiral. After a while, neighboring civilizations, who until this time hadn&#039;t had a lot of value assigned to gold either, saw gold was valuable to Babylonians and THEY started using it more for nobility and religion, adn THEIR price shot up as well. </p><p><br /></p><p>Basically, some people like to say humans have ALWAYS valued PM highly. I would argue that value of PM is taught to societies by other humans, and it is not innate. This is also born out by going back to African cultures when they first interacted with Europeans. The Europeans would write how &quot;stupid&quot; these people were for not valuing gold more highly. Well, the Africans were valuing based on its utility to them, the Europeans were valuing it based upon the premise &quot;its valuable&quot;, not from any personal experience. So who was &quot;stupid&quot;?[/QUOTE]</p><p><br /></p>

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