The intrinsic value is determined by the buyer and the seller as in every transaction. To a hooker, gold is worth about 3 times what a plumber would exchange supplies or services for me.
To a drug dealer, its worth about 4-5 times what a hooker would "pay."
To you, I probably could exchange gold for, oh, let's say a pencil, hopefully one withOUT a chewed eraser.
It's intrinsic value is based upon its
availability,
convertibility,
and its indentifiability,
and its durability.
1) it is more rare than copious copies of... <----you name the fiat.
2) it is more convertible than rubles to reales.
3) it is more indentifiable than paper euro to a Papua NG inlander.
4) it is far more durable than the latest flaming fiat faggot.
So, yes,
Gold has intrinsic value...as well as "beauty."
Whatcha got fer sale that I might want to buy w/gold??
O/49r
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