SadButMadLad's Blog

Just another blog complaining about anything and everything

Gold value

Where I do a Tim Worstall

“…there is something ludicrous about imparting such special worth to something that is inherently worthless. Or at least it is if all you do is dig it up, refine it, and stick it back underground in a bank vault. Real wealth is the ingenuity and productive power of human beings, forces that generate a flow of income, not gold.”

Everything is worthless. Value is what people make it to be and what they are willing to pay to buy it.

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Written by sbml

November 10, 2010 at 12:42

Posted in Economics

Tagged with , , ,

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