1175
you are viewing a single comment's thread
view the rest of the comments
[-] SippyCup@lemmy.world 1 points 1 hour ago

I understand it fine. At least the parts of what you said that are true anyway. Much of it is false but even if it weren't, I think you're misunderstanding my meaning.

Gold being used as a currency is ascribing to it an artificial value. It is no different than say, printing a number on a piece of paper and saying that paper is now valuable. It's a rock that we take out of the ground. If we tried as hard to dig up gold as we do digging up oil, we might eventually dig it all up in a few thousand years.

Oil has value because we use it for all kinds of crap. It's so useful we also trade it because it's valuable. This is true of every other commodity. Gold has so far outpaced its actual industrial value it's functionally just another currency, victim to the same manipulations as any other currency.

this post was submitted on 12 Aug 2026
1175 points (98.9% liked)

memes

22297 readers
2185 users here now

Community rules

1. Be civilNo trolling, bigotry or other insulting / annoying behaviour

2. No politicsThis is non-politics community. For political memes please go to !politicalmemes@lemmy.world

3. No recent repostsCheck for reposts when posting a meme, you can only repost after 1 month

4. No botsNo bots without the express approval of the mods or the admins

5. No Spam/Ads/AI SlopNo advertisements or spam. This is an instance rule and the only way to live. We also consider AI slop to be spam in this community and is subject to removal.

A collection of some classic Lemmy memes for your enjoyment

Sister communities

founded 3 years ago
MODERATORS