That ‘Decorative’ Metal

I want to comment on one thing that the narrator says. He makes what seems like a disparaging comment that people are “brainwashed that gold is nothing more than a decoration.” But the fact that gold has a use value aside of being a medium of exchange is exactly why it is a better medium of exchange than fiat currency (or the computer bytes that now represent “money”). It’s great that gold—for whatever reason—is a desired commodity. (Gold is also used in industry, technology, medicine, and even food.) It’s the close-to-zero use value of the paper that fiat currency is printed on that needs to be disparaged.

[Thanks to Amelia Sanchez]

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3:24 pm on February 17, 2012