posted on Apr, 3 2012 @ 08:17 AM
The vulnerability lies in treating anything as a "store of value." The value is ascribed by a potential buyer. So the whole thing is sort
of a giant Ponzi scheme. A lot of people on ATS believe that fiat currency has no inherent value.
News flash: neither does anything else.
Historically, a lot more people have continued to believe in the value of gold in the middle of a crisis, than have continued to believe in other
stores of value.
But no, ultimately nothing in this world has inherent value, since it is a quality (like sexiness, or art) that is assigned by humans, and no to
humans have the save valuation. All commerce is actually an embodiment of the "greater fool theory."
What are the chances that a greater fool than you will purchase it in an emergency?
Gold will be worth more than a collectible Elvis plate, when the lights go out. I suspect it will retain value better than the Elvis plate if the
world keeps on keeping on. You could probably construct a chart comparing the values of gold, collecter plates, fine wine, various shop tools, etc.
Or you could just assign a dollar amount and allow their respective values to float freely. But then that's what we do now....
Of course, the civil war chess set is worth more than any of 'em.