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Pro-tip: we have dug far more gold out of the ground than we have use for. The intrinsic value of gold is a tiny fraction of it's current value.
Pro-tip: we have dug far more gold out of the ground than we have use for. The intrinsic value of gold is a tiny fraction of it's current value.
@pete
the intrinsic value of all goods is equal to 0.
The industrial value of gold on the other hand is quite high. It’s currently priced out of various industrial uses for which it would be the ideal metal because of its monetary premium. Losing that monetary role would still see gold in demand for quite a few industrial uses and the price probably won’t fall by much. Here s2f actually makes sense as a dampener for price fluctuations.