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It seems to me that gold has no more intrinsic value than Conch shells, eagle feathers or dare I say it, paper money. As a commodity of exchange, you can't eat it, you can't heat your house with it, although it makes for a better rock to throw as a weapon but other than that... In the dooms day scenarios so pervasive amongst dystopian theorist I would no more exchange a pound of gold for a kernel of corn than I would for a ton of scrap iron... actually the scrap iron might have more value since I could at least make utensils out of the scrap metal.
There are plenty of states between our fiat currency society and a mad max scenario. All of which gold keeps you GTG.
And that certainly is your choice. Others however have chosen to purchase Gold (and other metals such as silver, platinum etc) and have realized a very respectable return on their investment.
As political systems around the world get uneasy, the faith in countries currency also gets uncomfortable and investors fall back on metals.
Not too very long ago (2006) Gold was trading for $600 per oz - now it is trading for $1450 per oz.
It seems to me that gold has no more intrinsic value than Conch shells, eagle feathers or dare I say it, paper money. As a commodity of exchange, you can't eat it, you can't heat your house with it, although it makes for a better rock to throw as a weapon but other than that... In the dooms day scenarios so pervasive amongst dystopian theorist I would no more exchange a pound of gold for a kernel of corn than I would for a ton of scrap iron... actually the scrap iron might have more value since I could at least make utensils out of the scrap metal.
everything has some sort of value...
gold , silver, diamonds...
look at the liberals, they are trying to trade(tax) carbon dioxide
"What it shows is that big money continues to believe gold will go higher...because Bernanke wants to grow at any cost," said Axel Merk, portfolio manager of the $600 million Merk Mutual Funds.
I have to agree with the OP. there really isn't a great deal of value for the metal, it is heavy and very soft.
Do people place a value on it... yes. why..I have no idea.
no different than diamonds, except diamonds aren't rare at all just falsely perceived as so, thank you De Beers
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