You will certainly see the invalidity

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If you look at this argument, you will certainly see the invalidity of it if you do not do an intensive research. If gold does not have any sort of value on its own, then it follows that money in paper or in the form of basemetal coins will not have it as well. But these make commerce possible, along with the quadrillions of electrons that move through the worlds economy on a daily basis in order to Archeage Gold facilitate a trillion dollars worth of commerce.

As such, what you can derive from this is that the reason why these mediums are of value is because of the trust and confidence placed on them to enable commerce. In todays setting, you could say that the dollar still remains to be the most trusted currency across the globe. The reason why it is trusted is due to the worlds confidence in the U.S. economic strength backed up with their national wealth.

However, you can see that the value of the dollar is just a recent historical development. On the other hand, gold has been known to exude trust and confidence to various people, regardless of their culture and government for a couple of millennia. The bottom line is that the intrinsic value of gold was able to persist through the ages that other assets or currencies still have to surpass.

Posted by fifacoins2u on Wed, 11/12/2014 - 3:16pm

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