[Anitius Severinus Boethius]

And if everyone thought it were as worthless as you seem to think it is, they couldn't sell it for anything.

I've never said it was worthless. I've said that it was a good hedge investment against inflation (like it's proving right now), and it can be a very nice add on to an investment strategy.

But, as you have just stated, it doesn't have a magical intrinsic value. It is a commodity like other commodities and it's value is determined by the buyer and seller agreeing on a common price.

I just despise the panic mongers and grifters who lie to people about their magical yellow metal.

[ml/nj]

But, as you have just stated, it doesn't have a magical intrinsic value.

I never said gold didn't have intrinsic value. I think you need to look up the meaning of intrinsic. Here, I'll help:

from http://www.merriam-webster.com/dictionary/intrinsic

Definition of INTRINSIC

1a : belonging to the essential nature or constitution of a thing [the intrinsic worth of a gem] [the intrinsic brightness of a star]

Here is a simple demonstration of gold's intrinsic value. If you let someone who has never held a Krugerrand hold one, that person will almost always smile.

ML/NJ