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a student,

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why is gold valuable? and do you think it would be possible to do away with the money system?

I feel like gold has no real value. I know that nothing technically has value, but why did the whole world choose to give gold so much value? Its really used for nothing. When is the last time you have ever heard someone say they needed gold? never, cause it is useless. Do you think, back in the day, people first started giving it value because it was shining? I know that sounds dumb, but i think its a possibility.
Also, do you think we could do away with the money system? like go back to trading or something like that? I know that it is theoretically possible, but i guess im asking how probable you think it is. I really dislike money (and gold i guess). I wish i could live my life without money, in my experiences money has done more bad than good. But no matter how much i dislike money, i am forced to give it value. I find it kind of upsetting, i don't want to give value to money, i really don't. But because just about every person on this earth continues to see money as value, i also have too. I feel changing a system like this will never happen, but do you think it could? and do you think it should?

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    Aug 9 2012: It is by far the most common of the metals that don't corrode and is an interesting colour for a metal. That's why the ancient world used it for jewllery and artifacts. It is immortal like a god, a gold figurine lasts for ever. Today as well as its monetary use it is widely used in industry. Every chip in the computer you are currently using is wired up with gold wire as it is the most ductile of metals. Without gold your mobile phone would be twice the size as all the circuitry would have to be larger to accommidate the thicker copper wire, and the copper wire would eventually corrode.
  • Aug 8 2012: Yes! I know what you mean & agree. As for folks bartering in USA: It's all around you, you just haven't noticed it yet.
    Ask around & it will surprise you I bet.
    Ex.: I am a wildlife artist & someone wants a painting of their dog or cat but can't afford it. I don't own a car but still have my driver's license. Outcome: They get their painting & I get use/or they drive their car for how ever amount of time & or distance is agreed upon. Simple as that!
    Ex.: You need a hair cut but can't afford it. You have a friend who is good at cutting hair. Your friend needs something that you can supply. Outcome you get a hair cut & he/or she gets the item. I know, I know, I just explained the barter system, but that example is going on around you on a daily basis in this country. I bet if you talked to a few of your friends (young & older) you would get an ear full.
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    Aug 8 2012: the answer is mises' regression theory. gold is valuable today because it was valuable yesterday, and people see no reason why would it change suddenly. of course the regression is not infinite, at some point in history the value of gold was its decoration and prestige value.

    nobody sees money as a real value. everyone understands that money has value because you can buy things with it, and things have value. any sane person when thinks about 10 bucks thinks about hamburgers and movie tickets.

    system change can't fix that. you either want a movie ticket or not. money is involved or not in the process makes no fundamental difference. probably you dream about a system in which you can just walk into a cinema, and watch a movie for free. won't happen, friend. many many people are working on those movies, and they want to eat just as you do. reciprocity.
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    Aug 8 2012: A combination of rarity, desirability, and usefulness gives something economic value. Fine diamonds and other precious stones too are valuable because they are rare and many find them beautiful.

    The question of whether the world could do away with money is asked here all the time, so you can get quick feedback right away on your question by using the search box!
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    Aug 8 2012: Gold glitters even in raging fires; gold will always be valuable. As long as humans have needs and wants, the monetary system is likely to endure.
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    Aug 8 2012: Neither money nor gold make us unhappy. Lacking food, shelter, love and freedom make us unhappy. Work can make us unhappy, or disagreements or the weather.

    What would you do if you had a million? Give yourself an honest answer and then, go an do it. Money is often a great excuse for non-action but the truth is that whatever you dream of, you can start it this minute.

    Be happy and act.
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    Aug 8 2012: Gold was the first corrosion resistant metal known to mankind, pretty to many eyes and due to its natural softness, easy to shape and form. As a metal it combines a unique compination of material properties, which, besides its price, is liked by many engineers.

    The nature of 'value' as we know it, is nothing but a silent agreement in between people, based on 'obsession of possession' and the essential necessity of SCARCITY. That's it, nothing else.

    If this definition of value is 'real' to you, is your decision only. The consequence was, and best proof if you did not share this 'value', you could sink a gold ingot into the ocean which were given to you in return for a favour.

    But please don't ask me what favour that was and who gave it to you... just imagine! :o)

    I think our given monetary system could and should be changed, but this would require its complete collapse first, as to many people do not realize its enslaving character.

    An interesting concept, mind game, or however you wish to call it, I found on the internet:

    http://www.tromsite.com/

    Not all what is shown is desirable in my view, yet I found some inspiring thoughts to work on.
  • Aug 8 2012: Ever hear of the "barter" system? It is still alive & well in the world including the USA (but if the government finds out you are doing it in USA, you can get taxed for it).
    Being a "soft" metal, gold is easy to work/mold etc., somewhat rare, & yes-shiny. Being shiny was a big draw for earlier humans. Ever hear- "Worth its weight in gold?" That's one reason we have a Federal reserve.
    As for dropping a monetary system? We are sort of headed that way now with all the plastic/online stuff - deposits/pay bills etc.
    As for what I think: Could or should? With the way the global situation is- we just might be going back to the barter system sooner rather then later.
    I am sure others can add much more to this then I.
    • Aug 8 2012: Yes, i have heard of the "barter" system. That's what i was referring to when i said "trading." I have something you want, you have something i want.... lets make a deal! As far as I'm aware, that's the basis of the bartering system. But this system seems out dated, so to speak. I understand how/why bartering would still be used today in developing countries. The only example of this in the US, that i have seen or aware of, is the family that owns the corner store down the road from me. They pay people who help them with food, cigarettes, and alcohol. Which i assume isn't the only case of this around the US. If you don't mind, could you give me some more examples of bartering in the US? I would really appreciate it.
      Also, the whole "plastic/online stuff" isn't really getting away from a monetary system, in my eyes. I see all that as just making it more complex. The numbers that back up the plastic cards, and that are seen online, just represent the amount of money you have, which the money is backed with gold. No gold, no imaginary numbers... You know what i mean?
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        Aug 9 2012: I don't want to promote anyone's commercial operation, but if you do an internet search for "barter US," you will find examples yourself.