[OT] Ameros will clog the tubes - was Re: Network Neutrality
nick at leippe.com
Fri Dec 5 08:19:46 MST 2008
On Thursday 04 December 2008 09:48:06 pm Andy Bradford wrote:
> Thus said Michael Torrie on Thu, 04 Dec 2008 10:54:42 MST:
> > Besides all that, what makes gold valuable? If gold is just sitting in
> > a bank somewhere, it's doing no one any good. Arguably the industrial
> > uses of gold are far more valuable to an economy than if gold just sat
> > around and rusted, propping up some currency.
> One other point. Gold is better as a money because it is more scarce.
I disagree. I think silver is better as a money than gold for precisely the
same reason--it is far less scarse than gold. The scarcer a currency is, the
easier it is to monopolise which reduces it's utility as a currency and causes
> That's why silver is used more in industrial uses than gold is.
The industrial use of any substance is based far more upon the physical
properties of matter than the supply. I propone that there are simply more
uses for chemical compounds composed of silver atoms than gold, not simply
because silver is far more abundant. eg, silver nitrite can't be made with
gold... If some new popular doohicky technology came out that required some
gold compound, and it was in high enough demand, we'd use more gold.
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