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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: maceng2 who wrote (64704)	6/7/2005 8:27:10 PM
From: Maurice Winn	Read Replies (1) \| Respond to of 74559

PB, I'm convinced fiat currency will win, though not the government-based systems, which I think will all go to zero. Digging gold seems daft. All that's needed is a unit of measure of value, like kilogram, metre, lux, rad etc are units of measure of other things. Gold is just a surrogate for effort. It takes a certain amount of effort to dig an ounce of gold. That defines the value of gold. If gold could be filtered from the ocean through very cheap membranes at a cost of say $1 an ounce, with almost limitless supply, then the price of gold would head for $1. It is only that the effort to dig another ounce is around $200 that gold has any value. It's a handy little material which has high value in small mass, doesn't rust and so on, so it's good to hand around and keep in a pocket. Keeping iron or lead in one's pocket would not be convenient or permanent. Keeping a cyberphone in one's pocket is easy. That's the way to store money and move it. It can't get stolen, lost, diluted or anything nasty, which gold and state currencies can suffer. All currencies other than Mq's new all singing and dancing cybercurrency will go to zero within 20 years with serious withering in 10 years. That's about a $20 trillion destruction of the anachronistic currencies! Mqurice