Message:

<p>[QUOTE=&quot;medoraman, post: 1340226, member: 26302&quot;]Fair points sir, I understnad your reasoning. Like I said I am sure I was using my definitions from all the classes I took and taught.</p><p><br /></p><p>Btw, for your example of a foreign planet, what makes you so sure they would value gold at all? There are many societies here on earth that never valued gold. They LEARNED to value it simply because others valued it, and they learned they can trade this silly heavy metal to them for what they want. Being a goldbug really is a learned trait. From my readings it started with nobility and the priesthoods of early cultures desiring it for ornamentation. Common people simply learned that this is &quot;valuable&quot;, and could be traded for what they wanted, much like a Mickey Mantle baseball card today is &quot;valuable&quot;.</p><p><br /></p><p>Gold by itself is valuable to the extent someone else wants it, like everything else in economics. <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie1" alt=":)" unselectable="on" unselectable="on" /> Your examples of bread and the like were better examples of intrinsic worth, as they fulfil a basic human need, not want, but bread is not storable, so I completely understand your point.</p><p><br /></p><p>Just as an aside, if you wanted interesting reading I would read about jade and China. For most of Chinese history China was the all powerful culture in that area of the world. The most valuable thing in the world to them was precious jade, and all cultures nearby therefor valued jade well above gold. This went on for untold centuries, with jade being the top of the food chain for a store of value. Not until significant contact with European cultures did gold in China become the preferred store of wealth. This change happened simply because the Europeans valued it so highly, and the Chinese wished to trade with them. The use of jade as the preferred store of wealth has declined steeply in the meantime, until today its just another gemstone. What would happen to modern man if we came into contact with a foreign planet, and they valued nickel more than all else and we desperately needed to trade with them for their goods&nbsp; and technology? Would nickel become our store of wealth, and would gold become just another metal used in jewelry? Just a thought.[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in