Gold has no intrinsic value, other than limited uses for electronics. It's only valuable because of scarcity and a shared understanding from ancient times that this metal is shiny and doesn't corrode, so let's make jewelry and coins from it.
Why are diamonds valuable, when they are not really rare? Ask the DeBeers family.
If it did, you wouldn't be making the arguments that you do.
Gold, like fiat, retains value pretty much due to how people perceive its worth. The Aztecs used it to decorate shit and not for money, the Spaniards thought they were crazy. Comparatively, diamonds are not rare, but people think they are, and way over pay for a fucking rock due to a successful advertising campaign going back decades.
Gold has no intrinsic value, other than limited uses for electronics. It's only valuable because of scarcity and a shared understanding from ancient times that this metal is shiny and doesn't corrode, so let's make jewelry and coins from it.
Why are diamonds valuable, when they are not really rare? Ask the DeBeers family.
You: Gold has no intrinsic value except for its intrinsic value.
I don't think that word means what you think it means.
lol Sure it does, dingus.
If it did, you wouldn't be making the arguments that you do.
Gold, like fiat, retains value pretty much due to how people perceive its worth. The Aztecs used it to decorate shit and not for money, the Spaniards thought they were crazy. Comparatively, diamonds are not rare, but people think they are, and way over pay for a fucking rock due to a successful advertising campaign going back decades.