You don’t understand what gold is being used for, it’s insurance against government printing and is impossible to forge and hard to steal if your not stupid and actually pay for security, unlike things like bitcoin. Its used as the currency for century’s for a reason and is often fallen back upon as a last resort for a reason. Silver isn’t because it’s not as fininite but is good as a more ubiquidous self backed currency for the same reason, just more for the common man.
The reason golds value is so high is because it is the price of combine debts that verious fiat deal could cover over all these years, that’s why it’s so high. When a debt can’t be covered in cash, gold is often sold to make up the diffrence, over time that has caused its price to rise due to it being represented against these assets, it seems people can’t get enough of the shiny metal.
I understand it fine. At least the parts of what you said that are true anyway. Much of it is false but even if it weren’t, I think you’re misunderstanding my meaning.
Gold being used as a currency is ascribing to it an artificial value. It is no different than say, printing a number on a piece of paper and saying that paper is now valuable. It’s a rock that we take out of the ground. If we tried as hard to dig up gold as we do digging up oil, we might eventually dig it all up in a few thousand years.
Oil has value because we use it for all kinds of crap. It’s so useful we also trade it because it’s valuable. This is true of every other commodity. Gold has so far outpaced its actual industrial value it’s functionally just another currency, victim to the same manipulations as any other currency.
“industrial value” this is irreverent given is more used as a financial device for a few millennia, gold only recently became somewhat useful for electronics, not much else. “Gold being used as a currency is ascribing to it an artificial value.” see your not listening, i does have value because its being uses in trade for financial assets when people fail to meet fiat or fiat fails flat out and another medium of exchange is needed, often for larger transfer of assets, over the course of many years this is bound to show crazy increases in comparative value givein the time horizon. its not artificial, its a show of compounding failure of newer currency that try to replace it, the reason gold never fails is for the reasons iv already described, it cant be faked since its an element, its heavy and hard to casually steal and on average people are drawn to its look, historically its been liked to the metal of the sun, something many people of the past worshiped and something we still love as its one of the things that keep out planets alive and crops growing.
for these reason it was naturally bacame the stockpile metal of value. btc and fiat will allways fail at some point because the things they attach to are fallable. gold is an element, it can’t fail.
You don’t understand what gold is being used for, it’s insurance against government printing and is impossible to forge and hard to steal if your not stupid and actually pay for security, unlike things like bitcoin. Its used as the currency for century’s for a reason and is often fallen back upon as a last resort for a reason. Silver isn’t because it’s not as fininite but is good as a more ubiquidous self backed currency for the same reason, just more for the common man.
The reason golds value is so high is because it is the price of combine debts that verious fiat deal could cover over all these years, that’s why it’s so high. When a debt can’t be covered in cash, gold is often sold to make up the diffrence, over time that has caused its price to rise due to it being represented against these assets, it seems people can’t get enough of the shiny metal.
I understand it fine. At least the parts of what you said that are true anyway. Much of it is false but even if it weren’t, I think you’re misunderstanding my meaning.
Gold being used as a currency is ascribing to it an artificial value. It is no different than say, printing a number on a piece of paper and saying that paper is now valuable. It’s a rock that we take out of the ground. If we tried as hard to dig up gold as we do digging up oil, we might eventually dig it all up in a few thousand years.
Oil has value because we use it for all kinds of crap. It’s so useful we also trade it because it’s valuable. This is true of every other commodity. Gold has so far outpaced its actual industrial value it’s functionally just another currency, victim to the same manipulations as any other currency.
“industrial value” this is irreverent given is more used as a financial device for a few millennia, gold only recently became somewhat useful for electronics, not much else. “Gold being used as a currency is ascribing to it an artificial value.” see your not listening, i does have value because its being uses in trade for financial assets when people fail to meet fiat or fiat fails flat out and another medium of exchange is needed, often for larger transfer of assets, over the course of many years this is bound to show crazy increases in comparative value givein the time horizon. its not artificial, its a show of compounding failure of newer currency that try to replace it, the reason gold never fails is for the reasons iv already described, it cant be faked since its an element, its heavy and hard to casually steal and on average people are drawn to its look, historically its been liked to the metal of the sun, something many people of the past worshiped and something we still love as its one of the things that keep out planets alive and crops growing.
for these reason it was naturally bacame the stockpile metal of value. btc and fiat will allways fail at some point because the things they attach to are fallable. gold is an element, it can’t fail.