I think KMT was teasing you.
I wrote something similar to what you wrote several months ago, about men wanting gold so they could trade it for sex, probably on the CFZ, many thousands of posts ago.
Gold is very pretty, makes very nice jewelry, and is good for filling teeth, plating electrical connections, and has a number of other excellent industrial applications.
One thing which surprises me is that people in India own roughly 1/3 of the world's gold. In The Mystery of Capitalism, Peruvian economist Hernando de Soto argues that people in the third world are not poor, they possess many assets, but they cannot effectively leverage them because of the inadequate legal systems in their countries. Just think what those gold necklaces could do for India.
policylibrary.com
I am very intrigued by the concept of e-gold - very good article in last month's Wired magazine. However, I don't believe I'd trust any of the people currently involved - it sounds like the perfect scam.
wired.com
I would like to point out that even though the world's money has been decoupled from gold, gold is still used to settle up national accounts. I know there is gold belonging to many nations stored in an underground vault in Manhattan under, I believe, the New York Federal Reserve Bank building, and there is also some stored in Switzerland in the vault of the Bank for International Settlements. People just truck gold bars from one vault to another to make the payments. |
