No. Gold, throughout history (excepting a few industrial uses in the recent past) had no intrinsic value, just has paper money has no intrinsic value today. Beans and bullets have intrinsic value - they provide utility to the owner regardless of what anyone thinks.Doesn't matter that you can't eat it or build shelter with it. People value it nonetheless. At almost any point in human history a small pile of gold could get you food or shelter. Its a compact store of value that cannot be created out of thin air. Its also pretty which people like. Something does not have to have a practical purpose to have intrinsic value, it only has to be worth something in and of itself.
Paper money on the other hand has no intrinsic value. Its only valuable as a promise of other goods and services. If the entity that issued it collapses its worth nothing.
Statistics: Posted by TipsQuestions — Tue Sep 24, 2024 8:11 pm — Replies 16 — Views 499