SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Proud Deplorable who wrote (1960)11/16/2005 11:44:07 PM
From: Claude Cormier  Read Replies (1) of 78420
 
- Substantially all of the gold ever mined still exists above ground. Most of the silver, on the other hand, is gone due to industrial uses like computer technology, photography, x-ray film, super conductivity, etc

That is exactly why silver is no longer suitable to be used as money. Silver is consumed, gold is hoarded.

Money is:

1) a standard of value
2) a store of value
3) a medium of exchange

OK silver can certainly be 1) 2) and 3). However, it can be those 3 only on a small scale basis, because you said it...there is not enough of it above ground. Not enough to keep the counterpart of all the goods produced by mankind and not enough to replace the fiats in the hands (digitally or else) of the consumers of this world. On the other hand there is enough gold for that.

Still, I can see where both would play a role in a metallic monetary system.. But really, gold would be enough and could do the job alone. Silver could not.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News