Re:Valuable lesson in currency... (Score 2)

Hear, hear. If anyone doubts the real value of gold compared with paper money, consider this: One thousand years from now you find a vault filled with ancient American, paper money. The value of that paper is worthless. It may have worth as an historical artifact. But now consider this: One month later a colleague discovers two vaults filled with ancient American money. The value of your money has now gone down. Having more paper money in this world decreases its value because the paper itself is not wealth. Compare this with gold: (and you can imagine it now, because it works at any time) You find a vault filled with gold. You're rich. Your colleague finds a vault with gold. He's rich. You're both rich because finding more gold just means that there's more (actual) wealth in the world. You're rich if you find such a vault now. You're rich if you find it one thousand years from now. That's because gold has intrinsic worth. It shouldn't, I believe, because I personally don't care about gold. But that doesn't change the fact that others always will. Even if gold didn't have uses other than money, people have, and always will, covet it. If you had a trunk full, you'd line your walls with it. If you had more, you'd have a solid gold swimming pool out back. There's never enough gold.