hk wrote:
Vic Smith wrote:
On Wed, 23 Jan 2008 12:22:00 -0500, "Reginald P. Smithers III"
"Reggie is Here wrote:

wrote:
On Tue, 22 Jan 2008 21:34:38 -0500, hk wrote:

Gold has a bit of history as a valuable item. Beads, too. Paper?
No thanks.

You should own a bag or two of silver coins if you are looking for
hard money. It is hard to make change for a Krugerrand when you are
buying groceries
While gold and silver can be a valuable hedge against inflation or a
server recession and/or depression, it would have no value if there
was a complete breakdown in government and society. Barter for real
goods and services would be the new coin. Gold only has value if
people believe it has value, the same as with our paper money.

Whoa. You're saying my VISA card won't work. Even the platinum?
Oh ****.

--Vic


Gold has been highly valued for thousands of years. If there is a
general collapse, it will be something easily traded for valuable goods
and services.

Guess again, according to the Economist Robert Carrol, PHD, you are wrong.
"If people were stranded in some remote location without food, water,
and shelter, a mountain of gold would serve no more purpose than so much
sand. It would have no price. Gold has no intrinsic value."

Anyone with any economic background would see the fallacy of your
arguement immediately. I am using Robert Carrols quote to verify my
position.

http://landru.i-link-2.net/monques/goldx2.html

A pseudo-legal argument is sometimes advanced by advocates of gold money
that a debt cannot be paid with another debt. This is semantic
deception. A debt can be paid with anything that is acceptable to the
payee. In addition, as long as debt in the form of deposit entries in
bank accounts or Federal Reserve Notes can be exchanged for real goods
and services, the payee is just as well off as if he had received little
lumps of metal. Further, the multi-trillion dollar world economy runs
almost exclusively on exchange of debt-money which only consists of
numbers in deposit accounts at banks.

A common argument for gold money that accompanies the pseudo-legal
sophistry is that gold has "intrinsic value," another semantic
deception. Gold has interesting intrinsic properties such as chemical
stability and excellent electrical conductivity, but "intrinsic value"
is a semantic error if not outright doublespeak. Value(1) is a
subjective judgment and cannot be rationally thought of as intrinsic.
Subjectivity is exclusively a product of human minds. "Intrinsic value"
is a deceptive euphemism for price.

If people were stranded in some remote location without food, water, and
shelter, a mountain of gold would serve no more purpose than so much
sand. It would have no price. Gold has no intrinsic value. It merely has
a price which is the result of complex factors associated with its
subjective price value compared to other commodities. Industrial
usefulness of gold as well as human subjectivity that desires gold for
personal adornment, etc., does assure that gold will fetch a price in a
modern market. But what price?