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Gold is a finite resource, like any other natural resource. The cost of gold is partially formed by the land purchase of the mining company paid. One can not ju
by belorn 5y ago
Gold is a finite resource, like any other natural resource. The cost of gold is partially formed by the land purchase of the mining company paid. One can not just start digging and increase the supply of gold. You need land first and it need to be one of a few special locations on earth where such mining is profitable.
I don't think the distinction being present are convinceing me. I can agree that undeveloped natural resources might need to be treated differently than developed resources, on that ground that undeveloped natural resources are inherently limited, scares and in general useless unless developed. Undeveloped land don't serve anyone except as an investment, and thus special rules might be needed.
I will also say that while I can agree that people should not form emotional attachments to objects, and I will include here any object, it is part of human behavior to do so. Be that a house, car, boat, jewelry, guitar, a sport players T-shirt, or what have you. For most people a house is just a house. For others it a family heirloom, built and maintained for hundred of years by the same family. We don't generally repurpose objects in order to benefit the greatest number of people, and I doubt there is a very strong support for that.
- CryptoPunk 5y ago>>Gold is a finite resource, like any other natural resource. For practical purposes, gold is not finite for the time being. We can keep mining it to expand supply for a long time to come. Maybe for some elements, it would make sense to apply a usage tax to discourage under-utilization of the existing supply, but that day hasn't come for gold. >>You need land first and it need to be one of a few special locations on earth where such mining is profitable. There are many places where one can purchase mining rights, and profitably mine gold. It's just a matter of investing the resources to do it.