3 ms·
So food is tulip. Steel is tulip... everything is tulip? It's not the existence of utility that matters but the degree. Gold is much more useful than tulips.
by rafale 4y ago
So food is tulip. Steel is tulip... everything is tulip? It's not the existence of utility that matters but the degree. Gold is much more useful than tulips.
- sumy23 4y agoThe value of gold is detached from its utility, just as the value of tulips during tulip mania were detached from their decorative value. The value of steel, on the other hand, is not detached from its utility value.
- forum_ghost 4y agogold is a reliable hedge and store of value that survived 5000 years: longer than any empire, longer than any bond issue, longer than any real estate holding, longer than any fiat currency. financial utility IS utility. nothing is detached from anything.