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I fail to believe that markets serve the common good when the price of gold (a barely useful metal that on its own can't feed a single child) soares and also th
by zerostar07 15y ago
I fail to believe that markets serve the common good when the price of gold (a barely useful metal that on its own can't feed a single child) soares and also that the economic output of europe relies on greece. That's what the market would suggest. I'm not saying kill the markets, i just like rational markets. PSI invested in greek bonds (for 10 years now), for their own reasons, let them take the hit.
- cbr 15y agoGold is "barely useful"? See http://en.wikipedia.org/wiki/Gold#Use_and_applications http://en.wikipedia.org/wiki/Gold#Use_and_applications , especially "Industry". You are right that the price of gold is far higher than it would be if people weren't using it for investing, though.
- zerostar07 15y ago"The world consumption of new gold produced is about 50% in jewelry, 40% in investments, and 10% in industry." If the value of gold was determined by industrial demand only, it would be a fraction of what it is now.