Why is gold worth so much?

[quakefiend420]

Originally posted by: Eeezee

Originally posted by: quakefiend420

Originally posted by: miketheidiot
gold is the original fiat currency.

do you know what the word fiat means?

You mean the automobile company?

No, seriously, do you know what a fiat currency is? Gold was the original fiat currency (hint: as soon as any governing power, such as your tribal eldar, declares gold as an official currency for all debts, purchases, etc., gold is a fiat currency in your village)

point taken, but today, fiat currency is generally used to describe a currency that in and of itself, has little to no value(paper, values in a computer, etc)

basically, no asset to back said currency

 

[IGBT]

..ugly yellow metal has a fear based value.

 

[slayer202]

Originally posted by: quakefiend420

Originally posted by: Eeezee

Originally posted by: quakefiend420

Originally posted by: miketheidiot
gold is the original fiat currency.

do you know what the word fiat means?

You mean the automobile company?

No, seriously, do you know what a fiat currency is? Gold was the original fiat currency (hint: as soon as any governing power, such as your tribal eldar, declares gold as an official currency for all debts, purchases, etc., gold is a fiat currency in your village)

point taken, but today, fiat currency is generally used to describe a currency that in and of itself, has little to no value(paper, values in a computer, etc)

basically, no asset to back said currency

that is correct. the fact that govt declares a currency does not make it fiat. our money was once backed by gold, which was not fiat.

 

[Chiropteran]

The golden rule: the one with the gold makes the rules.

 

[everman]

I'd go with a healthy portion of lead, copper and brass in nice neat little packages. About 7.62x51 to be exact. 😀

 

[Xylitol]

Originally posted by: EMPshockwave82

I would rather have a skill than gold.

like nunchuck skills?

 

[ConstipatedVigilante]

Originally posted by: Xylitol

Originally posted by: EMPshockwave82

I would rather have a skill than gold.

like nunchuck skills?

Bowstaff skills?