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Ask the people who were displaced during WW1 and WW2. The ones who were able to migrate to safer places with gold, restarted their life much more easily compare

by akg_67 11y ago

Ask the people who were displaced during WW1 and WW2. The ones who were able to migrate to safer places with gold, restarted their life much more easily compared to the ones who had nothing more than clothes they were wearing. Gold is still important and will remain important as long as people consider it to be value of last resort for bartering or exchanging product and services. What good is the skill if you can't exchange it for more important things you need for survival? Generally in economics, capital (gold) is always considered more valuable than labor (skill).

jivardo_nucci 11y ago
"The ones who were able to migrate to safer places with gold, restarted their life much more easily..." IOW "The wealthy were able to migrate to safer places and restart their lives more easily." No surprise there. So it was their wealth, not gold per se, that made their move safer and restarting easier. Gold is the most useless element in the world. But greed has no bounds and the love of men for gold seems endless.
- akg_67 11y ago
  And, how were wealthy able to carry their wealth with them? Primarily it was gold (compact and valuable), easier to carry. Look into history of Gold and you will learn much more about why and how Gold became the medium of exchange. Do you think anyone going to care about USD or Euro as medium of exchange during bad times?
- paganel 11y ago
  > No surprise there. So it was their wealth, not gold per se, that made their move safer and restarting easier. If you're wealthy but cannot easily carry said wealth with you across borders or conflict lines or hide it from a kleptocratic Government then there's not that much that you can do. Case in point, the high middle classes from my Eastern-European country, who after WW2 were wiped clean by the Government in just a couple of years, the result of industry and real estate nationalizations, combined with a forced revaluation of paper money. Holding gold could have protected one against all this, at least partially.
- zipwitch 11y ago
  Hey now. Gold is useful as an electrical connector, as a dye, as an EM reflector, in dentistry and electron microscopy... gold has lots of uses! Out of all the naturally occurring elements, proactinium probably takes the "most useless" prize - it's used by scientists doing radiometric dating. And it's both toxic and radioactive.

by akg_67 11y ago

jivardo_nucci 11y ago

"The ones who were able to migrate to safer places with gold, restarted their life much more easily..." IOW "The wealthy were able to migrate to safer places and restart their lives more easily." No surprise there. So it was their wealth, not gold per se, that made their move safer and restarting easier. Gold is the most useless element in the world. But greed has no bounds and the love of men for gold seems endless.

akg_67 11y ago
And, how were wealthy able to carry their wealth with them? Primarily it was gold (compact and valuable), easier to carry. Look into history of Gold and you will learn much more about why and how Gold became the medium of exchange. Do you think anyone going to care about USD or Euro as medium of exchange during bad times?
paganel 11y ago
> No surprise there. So it was their wealth, not gold per se, that made their move safer and restarting easier. If you're wealthy but cannot easily carry said wealth with you across borders or conflict lines or hide it from a kleptocratic Government then there's not that much that you can do. Case in point, the high middle classes from my Eastern-European country, who after WW2 were wiped clean by the Government in just a couple of years, the result of industry and real estate nationalizations, combined with a forced revaluation of paper money. Holding gold could have protected one against all this, at least partially.
zipwitch 11y ago
Hey now. Gold is useful as an electrical connector, as a dye, as an EM reflector, in dentistry and electron microscopy... gold has lots of uses! Out of all the naturally occurring elements, proactinium probably takes the "most useless" prize - it's used by scientists doing radiometric dating. And it's both toxic and radioactive.