Quote:
Originally Posted by pornopete
Can't tell if sarcastic or just really really stupid.
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Gold has very little intrinsic value and is only related to it's usefulness in jewelry, and very limited industrial use.
Amazing that uneducated people can be scammed by guys like Shiff into thinking it has some magical powers as a natural currency.
If all the lights went out and the planet was suddenly forced into the stone ages - and we all had to become hunter gatherers again tomorrow - Gold would probably rise to the top of the heap of the things used as "Currency" But the only reason for that is because of the prevailing misconception that gold has "Value". Only imagined confidence (no different than the confidence kids have in the existence of Santa) can keep the "Price" of anything with such miniscule intrinsic value UP.
Tulip Flower Bulbs were at one time, in one part of the planet, the most valued currency:
http://en.wikipedia.org/wiki/Tulip_mania
At the peak of tulip mania, in March 1637, some single tulip bulbs sold for more than 10 times the annual income of a skilled craftsman.
Gold=Tulips=Bitcoins