Re: [PLUG] OT, gold stuff

[Michael Leone <turgon@mike-leone.com>]

On Fri, 2002-04-26 at 10:47, Jon Galt wrote:
> On Fri, 26 Apr 2002, Jeff Weisberg wrote:
> 
> > except that gold is just as much a fiat currency as our dollars are today.
> > it has no (significant) intrinsic value, its value is derived from people
> > having faith in its usefulness in transferring wealth, just like our
> > paper money.
> 
> This is not at all true.  Gold has value in many industrial processes, in

And none to non-industrial-producers (the majority in any society - I
refer to us common folk), except for the intrinsic value of any pretty
thing, especially one that can use used in many decorative ways.

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