Value of Gold
Often I hear 'A nation's worth is determined by how much gold it has' and 'The cost of gold never depreciates'. My question is why?
Why is gold so valuable? Something is valuable once you have use for it not so? What are the major uses of gold that make it so valuable. If you don't have use for something you throw it away.
Or is it its rarity that makes it so valuable, so valuable that it is used as an indicator of a nations true wealth. How many applications can you find for gold?
Replies
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Kaustubh KatdareGold is valuable because it's rare. But it's a big fat lie that a nation's worth is determined by the amount of Gold it has. -
CE DesignerBut what can be gained by misleading the masses? What are they trying to achieve? And who are 'they'?
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Jeffrey ArulrajGold is a commodity that is it. Do you know in India we purchase Gold in Dollars and not in Rupees from the world market.
This is a vicious cycle By which the currency of a super power is drawn out of a developing country just to create a demand for the super power's currency. This demand pushes the value of the super power's currency in the local market. But the local currency loses most of its value in the process as it does not enough resources to balance the amount of Super power currency it has.
PS: I did not want to post name of countries here that would be too lame
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