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To: Openurmind

So you are saying there is once commodity with an absolute value? That makes no sense from a free market perspective.


41 posted on 05/13/2023 12:54:06 PM PDT by gas_dr (Conditions of Socratic debate: Intelligence, Candor, and Good Will)
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To: gas_dr

Gold is absolutely stable in value. Has been for thousands of years. This is why coinage laws have always been set in Gold. Or in fractions of Gold Value in Silver.

Here is how it was explained to me one time by a very wise and successful economist.

In Roman times an ounce of Gold would buy you a good horse.

In the 1800s an ounce of Gold would buy you a good horse.

Right now an ounce of gold would buy you a good horse.

Despite currency value smoke and mirrors going up and down the true purchasing power of Gold weight has never changed. One ounce will always be equal to one good beast of burden.


44 posted on 05/13/2023 1:03:56 PM PDT by Openurmind (The ultimate test of a moral society is the kind of world it leaves to its children. ~ D. Bonhoeffer)
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