Discussion in 'Economy' started by Paulie, Feb 17, 2011.
I have mentioned to you before that Gold is a pretty yellow metal that shines. It is a commodity that is essentially independent of inflation because so very few people own it or have to have it. I refuse to wear jewelry because I am pretty enough all by myself. A lot of women (even older ones) are coming to that understanding, too, not just the men. When I get older and far more wrinkled, I still will not need jewelry because it would be foolish to waste it on a withered old man. Jewelry is a useless frill. Such is reality.
The increased price of gold does add to the cost of electronic equipment that has to have gold plated parts. In the world of microelectronic components, the actual increase in expense is minimal because the gold used is minimal.
Gold is a commodity only because people have been hyped into believing that it has value and that it should be worn as jewelry. For those people who like jewelry, I say more power to them. It will never be used to back a currency as there is too little to be able to back the US Dollar. Shoot, there is not enough Gold in the world to back the Chinese Yuan.
Industrial Might, Industrial Productivity, Natural Resources, Technical Capacity, Intellectual Capacity....... THESE are the things that back a currency. (NOT GOLD).
Therefore, Paulie, you are an ignoramus. Go hide in shame.
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