Originally posted by zeitghost
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Reply to: Why is gold so valuable?
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Previously on "Why is gold so valuable?"
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Originally posted by zeitghostYou can make diamonds... you can't make gold...
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my brother used to work in a jewellers, every year or so they would take the overalls and throw them into the smelter. The tiny amount of gold that came out of a set of old overalls was enough to buy a new set.
One of his most important jobs was to sweep the floor. The sweepings were sifted for tiny fragments of diamond, which were sold on as industrial stock.
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Gold is valuable because of the (un) trustworthiness of governments.
If you could trust a government not to de-base the currency and not print loads of money, then there would be no need for gold.
Unfortunately, in the history of fiat money that has never, ever happened.
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Originally posted by TykeMerc View Posthowever it is reliable so people invest in it as an alternative to cash or shares.
Unless there is serious inflation nothing beats cash in terms of reliability (so long as banks don't go bust with your money).
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Originally posted by Bagpuss View PostIf I offer you 30p for a £1 does that make a £1 worth 30p?
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Originally posted by AtW View PostNo, it makes it very bad currency because people will hog gold coins. There is simply not enough gold int he world to satisfy cash requirements of modern economy.
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Originally posted by Doggy Styles View PostI think the question was WHY does it hold its value? (Except when Gordon Brown wants to sell it.)
It has a distinctive appearance, it doesn't tarnish, it's heavy, it's rare, and so since the beginning of trading it has been accepted as a standard currency.
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Originally posted by larry View PostGold holds its value. 200 years ago you could buy a good suit for an ounce of gold. Today you can still just about afford to get a suit for an ounce of gold ($820). 200 hundred years ago a suit was available for a few quid or whatever they priced items like that in those days. If you carried forward that money in pounds now, it would be equivalent to a few quid.
It has a distinctive appearance, it doesn't tarnish, it's heavy, it's rare, and so since the beginning of trading it has been accepted as a standard currency.
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Gold holds its value. 200 years ago you could buy a good suit for an ounce of gold. Today you can still just about afford to get a suit for an ounce of gold ($820). 200 hundred years ago a suit was available for a few quid or whatever they priced items like that in those days. If you carried forward that money in pounds now, it would be equivalent to a few quid.
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Originally posted by BrilloPad View PostPlan B anyone?
I did some business with one in West London about 20 years ago, their security was far better than anywhere else I've ever been including military sites.
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Originally posted by PAH View PostThat sums up the man/woman relationship pretty well. A bloke just wants a bit of 'company' and a bird will gladly give it if there's enough in it for her.
Whether that be a bacardi breezer, meal ticket, gold to dig, or simply a pussy-whipped slave, women have been exploiting men and their inability to think outside the dick for centuries.
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