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Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: Lucretius who wrote (11325)	2/21/2000 7:32:00 PM
From: IceShark	Read Replies (1) \| Respond to of 42523

gold is money and all paper currencies lose 100% of their value eventually, 100% of the time. And we are all dead eventually. No carryover.

To: Lucretius who wrote (11325)	2/21/2000 8:30:00 PM
From: re3	Respond to of 42523

<<<<what's the value of a piece of paper w/ green print on it that says "federal reserve note"???? a dollar fourty canadian ?????

To: Lucretius who wrote (11325)	2/21/2000 8:56:00 PM
From: Jorj X Mckie	Read Replies (2) \| Respond to of 42523

It has none. But isn't that the argument used for many of the internet stocks, that it is perception that drives the price up, not the real underlying value? Gold once had inherent value, the malleability and non-corrosive nature of the metal made it ideal for fashioning tools. I believe that is where the original value was derived. Kinda like cigarettes in prison. They have an inherent value and can be used for trade. Often though, they will go unsmoked as their trade value is greater than their smoking value. If everyone in prison quite smoking, I would bet that something else, like top-ramen would become the prison currency since it has inherent value. For the sake of argument, I am wondering if this has happened to gold. JXM

To: Lucretius who wrote (11325)	2/21/2000 10:05:00 PM
From: BGR	Read Replies (2) \| Respond to of 42523

Everything is a currency, Luc, since everything can be used in a barter (and that used to be the way markets were conducted a few millenia back). Sea shells used to be the currency in the middle ages. Mass adoption of a particular currency is a matter of trust and convenience. The greenback's there now, but the future belongs to e-cash (do you use credit cards?). As for the inflation argument, there's nothing to stop a Govt. from producing more gold coins - if gold was indeed the currency. That was a nonsensical argument that you make. But then, what's new?