allan; im not talking about your total worldview; im talking about your recent american financial history worldview that gold is some sort of odd, bizarre old thing that has no meaning other than what we americans choose to assign it in terms of dolalrs. that’s normal. it’s normal to say, “how many dollars is the piece of gold worth”. that’s normal, that’s american, that’s essentially what you are saying when you say gold’s value is socially constructed. I say to you, how much gold are those dollars currently worth? ” that’s the abnormal question, that’s the deviant world view.
it’s the sense that nothing we have is stable. nothing we have is permanent. that the SEC, the govt, your financial adviser, is as brainwashed and unaware and foolishly deceptive as any con man. Look, I used to be involved in the issuance of municipal debt. i was essentially a very highly paid proofreader. we had to “verify” certain assertions, certain dollars amounts, certain trust deeds, “guartanteeing” certinc ash flows. it all “added up”, it all made sense on apper. But none of us involved had any idea really if any of it was true. we were involved ina massive circle jerk of faith, all relying upon one another’s assertions, making sure the numbers were in the right place and the right language was in place. and maybe none of it is owrth nearly as much as people think.
but gold requires no proofreader.
it bought clothese for shakespeare’s society because it’s true they said it was worth something. you’re right in that sense. but here’s the funny thing….all these societies along all thes epoints of time chose to put value in gold. doesn’t that speak to you? or is the circle jerk of publicly issued debt seem more stable, mroe real, a more stable sense of value.
I never said it was a STABLE store of value, at least, i hope i didn’t. i certainly didn’t mena that, as i have seen a lot of valatility just int he years ive bene involved wiht it. and im old enough to remember the 80s and gold personally. i remmeber kids getting cold coins for bar mitzvah gifts.
i said it was a longstanding store of value, in other words, all thos ebonds i had a small hand in prodcuing, may go to zero. but gold wont.
