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re: .
Posted on 9/15/17 at 8:20 am to notsince98
Posted on 9/15/17 at 8:20 am to notsince98
quote:
Yes it is that valuable.
because people think it's that valuable? or it's truly inherent?
If an alien spaceship sucked all the gold from the earth with a giant gold-magnet, what would we be unable to do without it, say 200 years down the road (assuming our current technology base), that we do with it now?
I get the argument that we need SOMETHING to fix value (I'm not sure I really agree with it these days), but why gold and not something else? Isn't it ultimately arbitrary, except to the extent that it's based on having done it for thousands of years?
This article explains it pretty well (simply)--sort of a mix of psychology and unique properties:
LINK
quote:
From a elemental perspective, gold is the most logical choice for a medium of exchange for goods and services. It is abundant enough to create coins, but rare enough that not everyone can make them. It doesn't corrode, providing a sustainable store of value, and humans are physically attracted to its color and feel.
Societies, and now economies, have placed value on gold, thus perpetuating its worth. It is the metal we fall back on when other forms of currency don't work, which means it always has some value as insurance against tough times.
This post was edited on 9/15/17 at 8:32 am
Posted on 9/15/17 at 8:35 am to McLemore
Just spend 15 minutes googling the value of gold. Every phone in the world has gold in it. Everything made to go out into space has gold in it. Gold is very valuable to the medical industry.
When you get into the more exotic technologies coming out in the next 5-10 years it gets even more valuable.
It will be a long time before gold isn't a valuable commodity on this planet.
When you get into the more exotic technologies coming out in the next 5-10 years it gets even more valuable.
It will be a long time before gold isn't a valuable commodity on this planet.
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