| Topic: | Re:Re:Re:Re:Re:Reasons why Gordon Brown must go | |
| Posted by: | Thomas Barry | |
| Date/Time: | 05/12/09 12:11:00 |
| "Gold cannot be duplicated and devalued." ? Neither can my house be duplicated, since it occupies a finite amount of Chiswick which is a finite area of London usw. However, it can certainly increase in value, and indeed has done more than tenfold since it was sold from council ownership. Similarly since gold can certainly increase in value (e.g. because of greater demand for electronic goods incorporating gold in their manufacture) it can therefore devalue (e.g. because of reduced demand for electronic goods etc. etc.). This is before getting onto the fact that as a traded commodity it's subject to the usual market forces that establish the prices of traded commodities. This Gollumesque gold obsession is sheer lunacy as a basis for economic argument. Is it common in the Conservative Party, for instance amongst anyone likely to come into contact with the levers of power? I think we should be told. |