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Gold is a value store. It's valuable because it can be traded for other stuff. It's the same as money - a stack of $100 bills is useless except to buy other s
by jlarocco 14y ago
Gold is a value store. It's valuable because it can be traded for other stuff. It's the same as money - a stack of $100 bills is useless except to buy other stuff.
The things you listed are valuable because they have direct utilitarian value for drinking, eating, defense, etc. Gold is valuable because it can be traded for things with utilitarian value.
- bitcartel 14y agoExactly. Gold is a universal currency, you can use it for barter pretty much anywhere on the planet. Gold coins (British Sovereigns) were supposedly part of the emergency survival kit given to US and British fighter pilots during the first Iraq war.