Why Its Pointless To Argue With Global Warming Believers 2097
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The USD is supported by the economy of the United States, which is a much more reasonable thing on which to base the value of a currency than some random commodity.
And if you were going to pick a commodity on which to base the value of a currency, gold would be a pretty silly choice anyway. Let's be serious. Gold is a useful industrial metal in a few applications, but most of its value is derived from the fact that people like shiny objects.
Why would gold market traders want to hold down the price of gold?
There's nothing magical about gold that makes its value some kind of objective standard against which to measure the value of everything else. It's just another commodity, the value of which (since the government stopped defining its value by fiat) floats in response to supply and demand.
ZnU It does now. But then the USD floats so badly that it is hard to pin down exactly where its true value lays. Matter of fact, the paper money is just...
As I pointed out, according to the consumer price index -- which uses a much larger set of commodities, and one that's designed to represent the poor of stuff on which consumers spend money -- people are making more money now than they were 30 years ago.
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-- "Those who enter the country illegally violate the law." -- George W. Bush in Tucson, Ariz., Nov. 28, 2005