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NE Iowa | I am serious. Its great for jewelry, there is a finite amount of it, but in today's economy what is its other purposes or uses? Why would it continue to have such value if its major purpose today is decoration? Historically it was the commodity of choice, but why would it continue when it is a luxury and its other uses have been replaced by other alloys...
I can understand oil or coal even copper. If gold disappeared off the face of the Earth what would happen? If oil or coal disappeared the story would be much different? I must be too simplistic to understand why it still is so revered over commodities that are in demand for their usefulness.
But to the hyperinflation point. I agree whole heartedly that at some point some price action will occur. I am afraid that Americans are to accustomed to cheap food compared to the rest of the world. Government probably wants to keep Americans happy with cheap food and with the new reality that food producers are a tiny minority and not to mention non-unionized (united with one voice). We are helpless to stop them. If government so chooses.
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