You didn't answer the question at all. You basically said that gold is valuable because (1) it's rare, (2) it's a standard of trade, and (3) it's used in industry. Well, (1) just because something is rare doesn't necessarily make it valuable. Iridium, for example is much scarcer than gold and it's much less valuable. (2) Saying gold is valuable because it's a standard of trade is kind of like saying "gold is valuable because it's valuable." ...
@aliengruvgod Exactly. Who says gold will "always be valuable"? Cave people thought "shiny things" had value and there were gods in bushes, sky and water, etc. What's really valuable is you have that others want/ need. What happens to gold when we're all 'chipped' & our only value is our human skills? Today's value is binary (+/-) in computers =ing DEBT. Better investments are: WATER, safe shelter, communications devices, surveillance gear, private renewable energy, canned food, guns & ammo.
@aliengruvgod Exactly. Who says gold will "always be valuable"? Cave people thought "shiny things" had value and there were gods in bushes, sky & water, etc. What's really valuable is what you have that others want/ need. What happens to gold when we're all 'chipped' & our only value is our human skills? Today's value is binary (+/-) in computers =ing DEBT. Better investments are: WATER, safe shelter, communications devices, surveillance gear, private renewable energy, canned food, guns & ammo.
@raihan093 You watch how fast gold dives ('crashes'?) after we dig our way out of this hole, and see how many late comers who panicked too late lose their asses. It won't stay high like it is now. It might not "crash" as fast as paper money, but call it what you will - crash, dive, slump, it's eventually going to go down - just like real estate did.
Your arguments are useless like gold to me ! Like @pistolpete667 explained when you will be hungry I don't think i'll exchange my 5 apples for 1kg of gold.
SO... My point is that if you want to give a proper explanation for the value of gold tell us the true story behind the use of pure gold.
I agree with you on your scenario. But it is a very isolated situation. Gold has been real money for over 5,000 years. If you look at instances where currencies have collapsed, stores/food vendors etc took gold. Zimbabwe would be your most recent example.
if youre in a stranded situation if a person has a bunch of gold and another person has a bunch of apples who has the more valuable resource. gold doesnt feed you clothe you are keep you warm or usable as shelter. if you think about it gold is utterly worthless. being shiney and rare should add nothing to give it value.
@pistolpete667 the problem is people picture this environment like its the middle ages. Farmers will be the wall st of this world, but 4 farmers on a farm could feed 1000's of people potatoes. Do you think the farmerm is going to be interested in your mouldy apples? 10 of those people wanting potatoes are butchers, 10 carpenters, 10 mechanics etc etc, he will trade for these goods/services but there will become a time when he wants to preserve some capital. Thats why he'll take gold!!!
land
roymaitland 1 week ago
... Finally (3) gold's industrial value is much smaller than its market price.
aliengruvgod 5 months ago
You didn't answer the question at all. You basically said that gold is valuable because (1) it's rare, (2) it's a standard of trade, and (3) it's used in industry. Well, (1) just because something is rare doesn't necessarily make it valuable. Iridium, for example is much scarcer than gold and it's much less valuable. (2) Saying gold is valuable because it's a standard of trade is kind of like saying "gold is valuable because it's valuable." ...
aliengruvgod 5 months ago
@aliengruvgod Exactly. Who says gold will "always be valuable"? Cave people thought "shiny things" had value and there were gods in bushes, sky and water, etc. What's really valuable is you have that others want/ need. What happens to gold when we're all 'chipped' & our only value is our human skills? Today's value is binary (+/-) in computers =ing DEBT. Better investments are: WATER, safe shelter, communications devices, surveillance gear, private renewable energy, canned food, guns & ammo.
cookymann 3 months ago
@aliengruvgod Exactly. Who says gold will "always be valuable"? Cave people thought "shiny things" had value and there were gods in bushes, sky & water, etc. What's really valuable is what you have that others want/ need. What happens to gold when we're all 'chipped' & our only value is our human skills? Today's value is binary (+/-) in computers =ing DEBT. Better investments are: WATER, safe shelter, communications devices, surveillance gear, private renewable energy, canned food, guns & ammo.
cookymann 3 months ago
@cookymann Gold will always be valuable because it can never crash like paper currency. If you study monetary economics you will know this.
raihan093 2 months ago
@raihan093 You watch how fast gold dives ('crashes'?) after we dig our way out of this hole, and see how many late comers who panicked too late lose their asses. It won't stay high like it is now. It might not "crash" as fast as paper money, but call it what you will - crash, dive, slump, it's eventually going to go down - just like real estate did.
WhoYaTryingToKid 2 months ago
Thanks for the vid haha I always wondered
jesseandniklas 7 months ago
Your arguments are useless like gold to me ! Like @pistolpete667 explained when you will be hungry I don't think i'll exchange my 5 apples for 1kg of gold.
SO... My point is that if you want to give a proper explanation for the value of gold tell us the true story behind the use of pure gold.
01zack 11 months ago
I agree with you on your scenario. But it is a very isolated situation. Gold has been real money for over 5,000 years. If you look at instances where currencies have collapsed, stores/food vendors etc took gold. Zimbabwe would be your most recent example.
griff602 1 year ago
if youre in a stranded situation if a person has a bunch of gold and another person has a bunch of apples who has the more valuable resource. gold doesnt feed you clothe you are keep you warm or usable as shelter. if you think about it gold is utterly worthless. being shiney and rare should add nothing to give it value.
pistolpete667 1 year ago 2
@pistolpete667 the problem is people picture this environment like its the middle ages. Farmers will be the wall st of this world, but 4 farmers on a farm could feed 1000's of people potatoes. Do you think the farmerm is going to be interested in your mouldy apples? 10 of those people wanting potatoes are butchers, 10 carpenters, 10 mechanics etc etc, he will trade for these goods/services but there will become a time when he wants to preserve some capital. Thats why he'll take gold!!!
shawnaldinho19 3 months ago