Scarcity and utility.It doesn't cost $57 to make.
On another note, why is a bar of gold worth money?
Someone explain that to me.
It is actually the opposite. The “paper money” value and acceptance is determined by governments and can be discontinued or devalued to nothing in a second.It doesn't cost $57 to make.
On another note, why is a bar of gold worth money?
Someone explain that to me.
Nice try.Scarcity and utility.
All the easy to get at gold has been mined decades ago. Before your parents or grandparents were even born. Costs a lot of money to get gold nowadays and mines are incredibly expensive to run.
Gold is needed in many high end tech applications among others. It didn't rust/oxidize and it's chemically inert. There are literally thousands of uses for it.
Nothing is always. Nothing.It is actually the opposite. The “paper money” value and acceptance is determined by governments and can be discontinued or devalued to nothing in a second.
Gold is a precious metal that will always have value.
Drop a name if you think it's like that.Nice try.
There is nothing you can do with gold that you can't do with something cheaper.