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The dumbest thing ever said about gold

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posted on Oct, 5 2011 @ 12:33 PM
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reply to post by sylvie
 


She's been listening to Gold isn't money Ben Bernanke...

The normalization of perversion...




posted on Oct, 5 2011 @ 01:51 PM
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reply to post by sylvie
 


It's true, they are both backed by "faith"



posted on Oct, 5 2011 @ 02:56 PM
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reply to post by sheepslayer247
 


Nothing in the universe has inherent value. Toilet paper may have more value to you than gold because you can clean your bottom with it, however, if there is an abundance of TP, it becomes less and less valuable, you need a way to store value or to trade goods with something that has a universal value, is easy to carry and is divisible. Which comes back to: gold. Don't get me wrong, you can use anything as a store of value, but if its something people can easily acquire (say duck feathers) people will go out and find as many as they can, thus destroying the rarity - the value of each unit.

This is the basic definition of money. TP does not qualify because it can easily be produced in large quantities and the value of it can deteriorate very quickly. This is why gold has held value in numerous civilizations for many centuries.



posted on Oct, 5 2011 @ 04:47 PM
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reply to post by Angry Danish
 


Food and water have inherent value. Necessities to survive.. You can live without Gold, which makes Gold's value dependent only on what people perceive it's value is worth. But when push comes to shove, I wouldn't give away a precious can of beans for all the Gold in the World.



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