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I'll take 2,000+ years of recorded human history, across multiple cultures and ethnicities/races, over Buffett's views, thanks. How about I counter with Bernar
by patrickgzill 17y ago
I'll take 2,000+ years of recorded human history, across multiple cultures and ethnicities/races, over Buffett's views, thanks.
How about I counter with Bernard Baruch:
"Gold has worked down from Alexander's time ... When something holds good for two thousand years I do not believe it can be so because of prejudice or mistaken theory."
- nopinsight 17y agoIf you apply the same argument to astrology, would you accept that we should hold it as a valuable part of human civilization as well? Astrology is older than 2000+ years and it is used by multiple cultures and races. Only recently that scientific advances have convinced a substantial percentage of population to think otherwise.
- rsheridan6 17y agoThe difference here is that, with currency, if everybody agrees that something is currency, it IS currency, whereas astrology makes false claims about the physical world.
- patrickgzill 17y agoIf the exact same kind of astrology (not different variants) were used, and it was shown to have predictive power, perhaps I could see the equivalence between gold and astrology. Example: I time travel back to 500AD, do some kind of service, get paid in gold and bury it in a specific place so I can retrieve it. Then in 2010 I get the gold - it has retained its value over that broad span of time. Astrology - I use it in early September 2001 to predict a massive upheaval in US economy - I buy a bunch of short positions on September 9th, 2001 and make a boatload of money.