PB, re Aztecs vs Cyberspace. Today, Q made it to 31.8 while Gold was around 316 meaning that the Q pulled ahead of the G from the 1:10 ratio. They are neck and neck.
Gold can't be $10,000 per ounce or per person because there are many monetary ways to skin a cat. Gold has no monetary monopoly, never had and never will. Worse for gold, the total value of all gold compared with the total value of all existing humans has dwindled and dwindled over the decades.
There are now 6 billion of us, worth something like $3000 per year [as a wild guess] = $18 trillion per year production value. Total gold value is only $180 billion at $300 per ounce. We can't run a $20 trillion economy with $180 billion in money. Not without running credit tabs which would make current debt levels look minuscule.
Neither can the money be redefined as being worth 10x as much to say $2 trillion, because people who don't have gold will simply use other things as a monetary instruments. Why accept payment for a $30,000 car with 10 ounces of gold when that gold might suddenly become worth only $3,000 if somebody invents an oil-based money, or Q-based money, or platinum, or land-based money, or maybe simply another "In God We Trust"-backed money?
Gold is losing ground vs QUALCOMM.
Aztecs had their day centuries ago. It's game over for them. Sure, there will always be gold, just as there are still horseshoes, crocquet and other anachronisms. But they are artifacts of a bygone era, not central to the modern world as they once were.
Mqurice |
