[OT] Ameros will clog the tubes - was Re: Network Neutrality

Nicholas Leippe 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 
poverty.


> That's why silver is used more in industrial uses than gold is.

What???
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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