Comment 60504

By Tybalt (registered) | Posted March 02, 2011 at 01:48:53 in reply to Comment 60419

This gold nonsense is, well, nonsense. Gold is a medium of exchange with no more intrinsic worth than greenbacks (except for its applications in industry, dentistry, etc. but then I can also stuff a duvet with dollars) Its relatively stable ability to preserve value arises from the fact it's shiny and hard to dig up from the ground, and from the fact that it has a longer cultural resonance than notes do.

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