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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: Claude Cormier who wrote (61580)	10/12/2008 6:57:08 PM
From: pogohere	Read Replies (2) of 78416

"Gold is unique. You know its carracteristics. As such it has always been and will always be the best store of value. At some point in history it has been money and currency. It often acts like it." [emphasis added] The trick is to get in when gold is treated as money and get out when it isn't. Since it has no intrinsic value (yeah, yeah it has some industrial uses) its worth varies enormously over time. The practical value of using gold in a monetary system is to set limits on the creation of fiat (even gold's price has been set by fiat of government in the past--that's why a $20 gold one ounce gold coin was $20). Message 24036354 So Aristotle: "Money at root is both an idea backed by confidence and a workable and convenient medium of exchange." "All goods must therefore be measured by some one thing . . . now this unit is in truth, demand, which holds all things together . . . but money has become by convention a sort of representative of demand; and this is why it has the name nomisma--because it exists not by nature, but by law (nomos) and it is in our power to change it and make it useless. . . . Now the same thing happens to money itself as to goods--it is not always worth the same; yet it tends to be steadier . . . money then acting as a measure makes good commensurate and equates them . . . There must then be a unit, and that fixed by agreement" (Ethics 1133).

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