The Value of Gold
- Thread starter s_lone
- Start date
practical? that is not the basis for it being a "precious metal". Its status mostly comes down to being "pretty" and its availability.
it's actually starting to be incredibly useful to us chemists. Particularly in nanotechnology we often need a surface which isnt prone to oxidation but can still be modified chemically. Gold fits the bill like almost nothing else. I use it a lot.
Ok... so why is it precious? Why does the US Federal Reserve Bank hold about 3% of the gold ever mined?
Well there you go, that is a practical use of gold. But does this justify it being an important economic factor in 2007?
lol probably not. I dont know much about the subject but i expect it comes down to tradition. It was originally the very same thing as money, mostly because it was shiny
some standard for trading needed to be established. I don't recall how gold was selected as "the" metal of choice.
Who will really want to buy gold when the world is in a state of crisis? What is precious nowadays is energy. Shouldn't gold be scrapped for some form ''energetic'' value?
Herm, power is not nescessarily intangible is it? I mean if I have the ability to generate power off the grid wouldn't that be a better investment than gold? Or have I misunderstood what you meant?
I just learned how to use the "multi" button!
Because it is considered money.
It is not an important factor. However, because the volume of gold mined relative to demand has risen less than the volume of dollars created, its value rises.
In a state of true crisis, precious metals will be the true medium of exchange and store value. Oil will not because it is too difficult to transact and its far more abundant than gold. But this will almost certainly never happen.
Because it is considered money.
It is not an important factor. However, because the volume of gold mined relative to demand has risen less than the volume of dollars created, its value rises.
In a state of true crisis, precious metals will be the true medium of exchange and store value. Oil will not because it is too difficult to transact and its far more abundant than gold. But this will almost certainly never happen.
But why would anyone even care about gold in a real state of crisis? Wouldn't we just trade truly energetic stuff like food, water, gas etc.?
If you click the multi button on a number of posts then click the post reply button all of those posts appear quoted in your text area.
It amazes me the length peoeple will go for gold... nazis prying gold fillings from dead jews mouths strikes me as the most brazen.