--

The author makes a very interesting point, very well. Another point to be made is that gold in its raw state can be used as money--as a medium of exchange--so long as someone will accept it in that state for exchange: the same obstacle faced by digital creations such as Bitcoin.

The other point I would like to make is that gold, being a physical entity, has uses other than money, whereas digital creations do not. One reason gold is not intrinsically money is because it has those other possible uses.

--

--

Stephen Yearwood
Stephen Yearwood

Written by Stephen Yearwood

M.A. in political economy (money/distributive justice) "Please don't confront me with my failures/ I'm aware of them" from "These Days," as sung by Gregg Allman

No responses yet