>gold has intrinsic value as a precious metal so what you're

gold is extremely durable and physically stable, it has practical utility beyond financial backing and it's relative scarcity makes it's value easier to control

>>2891959
Relative scarcity? Every bit of gold ever contained in earth could not fill up an Olympic size swimming pool. It's rarer in supply than bitcoin, and actually real LOL that's what gives it value you retards

>>2891959
but like, what can I do with it

>>2892010
https://en.wikipedia.org/wiki/Gold#Modern_applications

>>2891959
what's the practical utility of gold beyond storing wealth?
inb4 "jewelry is a necessity"

File: 1495716650524.gif (703KB, 1060x1053px) Image search: [Google]

703KB, 1060x1053px

>>2891981
>Every bit of gold ever contained in earth could not fill up an Olympic size swimming pool
3/10, made me reply

>>2892010
take it like a vitamin

you'll never hear this literally anywhere, but gold is very, very good for the body

>>2892045
I've had food with gold shavings on it. you're welcome for deflating the supply

File: _____.jpg (26KB, 500x393px) Image search: [Google]

26KB, 500x393px

5. Given 165,000 metric tons as an upper bound on available gold, how much does that leave to each human on the planet?

Humanity has just hit the 7 billion mark. That leaves just under 24 grams of gold to each person on planet earth, or .76 troy ounces or .83 ordinary ounces per person. In an ordinary male gold wedding band at 18-karat purity, there are about 5 grams of pure gold. That means every person on planet earth could own about 5 gold rings. At the current price of $1,750.00 per troy ounce of gold, that leaves $1,326.00 in gold for each person on planet earth. “Gold production has increased by a factor of 2.1 from 1959 to 2010. At the same time, the world population has been multiplied by a factor 2.2. Thus we produced more or less the same amount of gold per inhabitant as in 1959.” [QUOTE SOURCE: http://news.goldseek.com/Dani/1309290922.php)

Gold has value becuase the Annunaki used to mine that shit here.
They now use a middleman to come pick it up at the cost of them not fucking our shit up

>>2892039
Not him but actually this is true. Look it up.

>>2892290
How do you feel about Aiwass?

File: 1475090180354.jpg (4KB, 204x160px) Image search: [Google]

4KB, 204x160px

>>2891981
>gold is rarer than bitcoin

>>2891947
It looks like what you need to understand is less market related and more related to the philosophy of human value attribution.

It has a value because it's rare and limited - if you're looking for a solid objective value (e.g. food has an objective value to us because without it we die) then you won't get one. Gold has a value because it (at least until we start mining in space) has an extremly reliable capacity.

It's the original perfect currency, because the entire job of a currency is DELIBERATELY not supposed to have an objective consumable value (otherwise people would consume it), but rather have an arbitrary agreed-upon value and be nothing more than a temporary medium through which true trades can occur.

NOW we're talking about marketing again. Because John the cabbage farmer might want to buy a car, but bob the car dealer doesn't want 8000 cabbages in exchange for his car because that's not only counterintuative to his business, it's a burden on him because now he has to trade in cars and cabbages.

So they and everyone else agree on an arbitray -thing- to represent value; it can't be pebbles or tree bark chips because pebbles are too numerous and tree bark chips grow constantly, and their value would inflate to market-destroying levels of unsustainably confusing values, so whatever they pick needs to be stable and unlikely to suddenly increase or decrease in quantity.

In come precious metals which fit this bill precisely - they are the exact same model behind the concept of crypto coins.

Of course FIAT took over for 2 reasons: Everyone owning precious metals can only work on small scales; at larger scales there's just not enough to go around evenly.
and 2) He who owns and regulates the currency has intrinsic power and influence over the people using it...

This is why gold is still worth something. Because although it may seem archaic, when and if those other flimsier currencies become unstable, gold is still gold, silver is still silver.