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It seems to me even many leading economists don't understand that gold has little more intrinsic value than a paper currency note. Gold itself represents value, but does not contain it...same as a paper note.
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Sorry Night but that is wrong...
gold is a commodity just like any other commodity be it wheat, rice, silver, copper, oil, or even pork...as such it has value according to various market trends and availability...
paper currency has no value of it's own...it's value is determined by economics/the economy...if the economy is good it will go up, if bad it will be devalued...instead of having value in itself it's value is weighed against the overall condition of the economy.
Unlike a commodity which has value that is not generally weighed against other things, for instance if there is a drought that affects the production of coffee beans in Columbia that drought will not affect the price of gold...but it could influence the value of various affected currencies.