Noise

Lol @ people saying gold isn't valuable.

Lol @ people saying gold isn't valuable.

Gold is valuable only because we attach a value to it.

Gold is valuable in terms of the fact that it is used in electronics. It is also valuable in that people will pay for things that look pretty, and it is shiny. Its value as a currency though is just that, a medium of exchange. Its price actually fluctuates as much as most other currencies do against each other, so it is not even an especially good currency. Particularly as most currencies have at least nominal interest rates rather than charging you to hold them.

Of course Gold has some inherent value, in the sense that it is a good conductor. However it's value is largely inflated, and the perceived value is way above the intrinsic value of Gold. As far as I know copper is actually a better conductor.

"Gold is only valuable because we attach value to it."

It's also used to make Jewelry, and is used as a conductor in computers and other electronics. In pretty much all of Human history, Gold has never lost its value.

"Gold is only valuable because we attach value to it."

It's also used to make Jewelry, and is used as a conductor in computers and other electronics. In pretty much all of Human history, Gold has never lost its value.

In much of human history, gold has been valuable because we thought it was. You yourself said it: People use it to make jewelry. There are many other materiels that can be used to make jewelry, Gold just happens to be a tradition more than anything. Yes, gold does have practical value, but much of its value comes from people thinking it is valuable.

Gold is valuable only because we attach a value to it.

So the fact that it is actually useful has nothing to do?

The fact that the properties of gold has allowed it to be a solid medium of exchange for thousands of years among tons of cultures proves it's value is not just based in vanity.

It has practical uses and is also safe if you know what you are doing.

I personally think a gold standard is better than the status quo by far but my ideal system would be competing mediums of exchange.

If gold was based on vanity it's price would change wildly and not be so.strongly considered an alternative to the dollar.

The US originally moved away from a precious metal standard and into Fiat to pay for the Vietnam war and those that followed. It was ment to be temporary but we still have it as a permanent system today. Ironically the system was used to pay war debt created more conflict.

What gives the Fiat dollar it's value originally was the deal we struck with other nations. Our military would guard oil rich areas..... the middle east and they would purchase oil on a global market by using US dollars, thus creating demand and false value. We could print a lot for a long time and create a ridiculously large debt bubble and not worry..... but in all human history one fact about economics is clear...... all bubbles must burst..... economic fact/law. The Fiat was ment to be temporary for a good reason. Sadly those indoctrinated into modern economics are not taught this or taught that it can not apply to us or that we can dodge the consequences. This is simply not true. Those same people created a housing bubble while denying they were. Simply put..... debt based Fiat systems are made to fail in the long run. A gold standard might have some flaws but they pale in comparison to the flaws of the Fiat debt system.

I agree with Der Major wholly. In addition, gold is also valuable because it is scarce and does not corrode.

In much of human history, gold has been valuable because we thought it was. You yourself said it: People use it to make jewelry. There are many other materiels that can be used to make jewelry, Gold just happens to be a tradition more than anything. Yes, gold does have practical value, but much of its value comes from people thinking it is valuable.

Whether we have attached value to it or not, I still don't see why this is relevant to the fact that it is still valuable after millions of years. The imaginary dollar has lost value, and is currently losing its value. I'm not arguing for or against the Gold standard, because quite frankly there are believable arguments for and against it. People calling Gold a worthless metal that we have attached value to is nonsense, considering the fact that it has never lost the value we have attached to it ever.

I agree with Der Major wholly. In addition, gold is also valuable because it is scarce and does not corrode.

Who cares about the ancient gold standard (what are we cave men?), the future is the platinum standard

Good read, food for thought

Also FTFY

it would bugger anyone still on the gold standard

If it was really valuable, I wouldn't have endless commercials begging me to buy the !@#$.

If it was really valuable, I wouldn't have endless commercials begging me to buy the !@#$.

They are tricking you into buying less valuable gold or gold certificates more than likely. They use that money to buy real gold.

Giving gold or anything a value is very tricky and you are quite right when you say it all depends.

From electrical point of view it is quite valuable although silver i almost as good and it useful is narrow because of it´s high price. For jewelry it is pretty metal, very easy to use, has nice color and has symbolic meaning for people so that makes it valuable to them. From rarity on earth point of view it is somewhere in the middle of the scale so not really a big deal. The fact cold does not corrode very easily and is resistant to many acids has some usefulness and uses, but it is also quite soft and heavy metal with a low melting point.

The value of gold is rooted in its medium rarity, easily handling, easy smelting, non-corrosiveness, distinct colour and non-reactiveness to other elements; qualities most other metals lack. The main point that gives gold some value in my eyes is that it has a unique combination of properties which can be found in other metals also but those metals are usually even harder to find, plus people have already given gold it´s nowadays quite high monetary value.

They are tricking you into buying less valuable gold or gold certificates more than likely. They use that money to buy real gold.

The old gold okey doke. Dastardly.

nah they are gold dealers they buy at one price sell it for higher and make money on the spread. they also usually charge commissions and sell storage services for buyers.

Everything has a value because we attach values to everything. Gold isn't abundant and that is why it is a standard and in high demand.

Not reading the WoT, but the gold standard was removed for the same reason most people want to reinstate it.

There's only a fixed amount of gold on the earth. You can't flood or starve the market of gold to avoid a financial crisis, and that adds a tremendous amount of flexibility for the economy.

But because the government continually prints money to prop up the economy and pay debts, people want to go back to it. Personally I think we should stay away from the gold standard, and just regulate our expenditures more closely.

EDIT: I'm an engineer. The weird thing about gold is that it's like a god material. If Gold was a more widely available metal, you would probably see it used on many more things. It's non-corrosive (it doesn't rust!) It's not very strong, but it is malleable and very thermally and electrically conductive. Not to mention it looks nice.