"Gold has very little intrinsic value"

[Josh_LA]

Ah but look at Zimbabwe right now and you'll see that's not true at all. Starving people are busting their ass to find gold so they can eat. There's ALWAYS someone that will take gold in exchange for food. Basic supply and demand economics. You're getting way too hypothetical with this.

that's still only because people still have a way of trading with zimbabwe or industrializing the area such they can take their gold.

 

[talent scout]

sorry, I really wasn't trying to be difficult.

What I meant to say was.

Ok, gold has intrinsic value, it is what it is, but since I have no use of it (no matter how I keep thinking of ways to sell or use it).

I cannot pay the "intrinsic value" you believe it holds.

If you were to say "Doesn't matter Josh, you still have to accept that gold is what I say it's worth" then that would be forcing me.

If you walk away and say "fine, I'll find another one" then you can see if your intrinsic value every gets paid for.

Does that make sense?

You are mis-understanding Josh, what the word intrinsic means.
Has nothing to do with forcing you to do anything.

It has absolutely nothing to do with force, it just is what it is.

Just like water is valuable for what it is, and to say water has an inherent and intrinsic value, is not forcing you to do anything.

Like I said, even if you did not exist, both water and gold still have a value to them.

Has nothing to do with you at all

 

[rpfan2008]

THANK YOU!

DAMN, that wasn't so hard to say & understand, was it?

Phew!!

Usually I can't cough up what I really meant in my posts, but this time I guess I was lucky.

 

[Josh_LA]

You are mis-understanding Josh, what the word intrinsic means.
Has nothing to do with forcing you to do anything.

It has absolutely nothing to do with force, it just is what it is.

Just like water is valuable for what it is, and to say water has an inherent and intrinsic value, is not forcing you to do anything.

Like I said, even if you did not exist, both water and gold still have a value to them.

Has nothing to do with you at all

ok, so gold is gold and paper is paper, what DOESN'T have intrinsic value then?

 

[talent scout]

yes, but not in starving Africa and south America today.

gold is only valuable to industrial countries who can use it.





I disagree, it's the argument against the value of ANYTHING AND EVERYTHING. Even life.



Africans who've never seen it, South Americans who'v never seen it, people raised in middle America who have not seen or heard of it. Do you seriously believe people know gold like they know love, sex and bananas?

Your arguments is all over the board.
Its impossible to follow, and stick with the subject

 

[talent scout]

Originally Posted by rpfan2008 View Post
Gold have an associated value, but whether it's intrinsic or not it depends on the buyer. If he values, and willing to take that "piece of metal" and give you a truck full of wheat; entirely depends on him. Because he can't be sure whether the other guy would accept that same 'piece of metal' for his needs...unless of course it's a cultural practice to do so.

One buyer or non-buyer means nothing

 

[rpfan2008]

One buyer or non-buyer means nothing

Of course, but ONE buyer/seller with Gold is US, not them. THEY, are the ones who believe in paper money only...and there are lots of them. If they don't agree, the ONE might be in trouble.

 

[talent scout]

ok, so gold is gold and paper is paper, what DOESN'T have intrinsic value then?

Take the money we use today.

(it is the ghost of money as Jefferson said)

But lets leave out the facts so as not to confuse anyone, and call the Federal Reserve Bank notes money.

A one dollar bill is no more valuable than a 100 dollar bill except for the numbers printed on them.

Neither bill has an intrinsic value, they have an assigned value the bank has decided.

Neither the paper, the ink of the labor to create one is worth a dollar, as they cost about a nickel each to create.

5 Cents, even if they say one dollar or 100 dollars , cause that is what it costs the bank to create one

 

[Josh_LA]

Take the money we use today.

(it is the ghost of money as Jefferson said)

But lets leave out the facts so as not to confuse anyone, and call the Federal Reserve Bank notes money.

A one dollar bill is no more valuable than a 100 dollar bill except for the numbers printed on them.

Neither bill has an intrinsic value, they have an assigned value the bank has decided.

Wrong, both have intrinsic value because they're both bills, both paper. But I agree they're intrinsically the same value.

Neither the paper, the ink of the labor to create one is worth a dollar, as they cost about a nickel each to create.

Yes, that's not a dollar, but it's not nothing either.

5 Cents, even if they say one dollar or 100 dollars , cause that is what it costs the bank to create one

yes, it costs very little, but not nothing. unlike computer bytes.

 

[Josh_LA]

Your arguments is all over the board.
Its impossible to follow, and stick with the subject

maybe you're not considering enough.

you ask me to give examples, so I did.

 

[talent scout]

Of course, but ONE buyer/seller with Gold is US, not them. THEY, are the ones who believe in paper money only...and there are lots of them. If they don't agree the ONE might be in trouble.

But
This is not true

Originally Posted by rpfan2008 View Post
Gold have an associated value, but whether it's intrinsic or not it depends on the buyer..

Does not depend on the buyer

Does not depend on a million buyers

All metal has a value, for someone, just being metal.

Does not matter what value any of us here place on gold, it has value anyway.

Because of this fact of life, the Founders chose to use gold and silver for money

 

[talent scout]

Wrong, both have intrinsic value because they're both bills, both paper. But I agree they're intrinsically the same value.

Ok

I am not going to waste another minute explaining it

Yes, that's not a dollar, but it's not nothing either.



yes, it costs very little, but not nothing. unlike computer bytes.

Night Josh

 

[talent scout]

maybe you're not considering enough.

you ask me to give examples, so I did.

I understand Josh
Its all over my head

 

[rpfan2008]

But
This is not true


Does not depend on the buyer

Does not depend on a million buyers

All metal has a value, for someone, just being metal.

Does not matter what value any of us here place on gold, it has value anyway.

Because of this fact of life, the Founders chose to use gold and silver for money

finish school and then we will talk.
bye

 

[talent scout]

finish school and then we will talk.
bye

punk

 

[idiom]

If you shut the door on a room full of gold, it disappears because it has no intrinsic properties.

 

[AggieforPaul]

Uh, that's a true statement. There's nothing intrinsically valuable about gold. However, it derives value as a commodity, because it is limited in supply, it is portable, and it is easily divisible. It's the best means for indirect exchange. The only things with "intrinsic value" are bread and water.

 

[nayjevin]

Well, you could do the same things in microelectronics with gold as you do as silver. it just so happens gold is too valuable as a store of wealth and the market chose it as the monetary metal. a noble metal is a noble metal for all intensive purposes. excellent corrosion resistance to oxidation/moisture/nacl solutions/salt spray, high ductility, excellent conductivity.

You don't think people would love to electroplate things with gold for corrosion resistance? It's just not cost effective though. You don't think it would be more desirable to make exposed wire out of gold instead of copper? It would last forever. Not long enough to make the market choose it over copper though. Gold has TONS of industrial uses. Just people value it so much as a store of wealth market forces won't permit it's industrial use.

this.

the value is inflated because of the additional perception that it denotes wealth, and it's monetary value is high because of its relative scarcity, but gold is itself a seriously kick ass metal.

 

[brandon]

this.

the value is inflated because of the additional perception that it denotes wealth, and it's monetary value is high because of its relative scarcity, but gold is itself a seriously kick ass metal.

Yep, exactly.

 

[brandon]

I still cant believe so many of you simultaneously believe in an intrinsic value theory and free market economics. Talk about cognitive dissonance.......my god, it seems some of you are more confused than the neocons.