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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Tommaso who wrote (145686)1/23/2002 5:36:22 PM
From: yard_man  Read Replies (1) of 436258
 
>>But I guess the subject of gold is like the subject of gun control. You seem to be expected either to be for it or against it. Rational discussion is not acceptable.<<

I am not a gold-bug. My point was that the dollar is not a static measure -- that's all. The economic cost of producing gold is the oppty cost of not producing something else that someone might want.

The cost of production is a floor -- anyone can say -- higher prices stimulate more demand which increases production -- I can't argue with that. But that argument doesn't tell you where an equilibrium price is -- it certainly does not have to be at the price of production -- it's not gold vs the price to produce it -- but gold versus what others might be wanting to exchange their currency for, right?
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