Quote:
Originally Posted by Chief Pagan
In general I agree with you. There is nothing fundamental holding it up but the hope of a greater fool.
But it's hard to know how long things will last.
A little bit of gold is used in jewelry and electronics. But mostly it has value because people agree it has value. And most of the gold in the world is, if I understand correctly, stored in underground vaults.
[So gold is dug up from underground, at great cost and environmental destruction, just so it can forever be buried under ground in a vault. Yay.]
So I don't think it's much of an exaggeration to say gold is a six thousand year bubble.
So BC could well last a few more years.
Then again, I wouldn't be shocked if it completely collapsed either.
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Actually, gold has unique properties found in no other metal that make it essential for space travel. So, perhaps the ancients were just early on the market? Or maybe the aliens told them of the value? Either way, it does have intrinsic value due to its unique properties. Money on the other hand is a total faith based asset.