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To: discostu
It's trading for $300+ an ounce. Duh. What it doesn't have is INTRINSIC value.

Melt a gold coin and you can still sell it for 300 dollars an ounce. Burn a dollar bill and it's worthless. It has intrinsic value because it's basic building block is an element. And that element is used for jewelry, electronics, and space equipment.

But we're giving it a lot of value. Important to understand the difference between intrinsic value and accepted value. Good currency doesn't have intrinsic value, things with intrinsic value are useful and it's bad when people start using your money as something other than money.

No it's good, like I said, because no matter what happens, you can always get value for it.

267 posted on 07/25/2002 1:45:27 AM PDT by #3Fan
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To: #3Fan
This shows that you really really don't know what you're talking about. Go back, read some on the history of money, start with Smith. And come back when you know JS.
269 posted on 07/25/2002 7:56:20 AM PDT by discostu
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