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There is no such thing as inherent value

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August 13, 2010 – Comments (6) | RELATED TICKERS: GLD

Seriously what is the debate here.  Gold is "worthless" becaus it serves "no purpose" (which isn't even true).

Is that not the same thing as cash?

Does expensive clothing have any value?  All it does is look pretty (which gold does too)

 

Things only have value when people place value on them.  Trading cards are worth a lot and they are made of cardboard.  I would not spend more than $1 for an 8 track but I bet it cost more than that to make it.

Plus, copper, silver, timber, potash, it all grows from the earth, for free! Oil too!

Does anybody remember tickle me elmo?  Is it still worth as much?

 

On a really abstract note, what is a "purpose"?  AAPL makes money because they sell expensive gadgets.  But these gadgets serve no "purpose", they just entertain you.

Is a "purpose" progression of human life?  Animal life? Plant life? What do you consider progression?

Is a "purpose" fun? Is it happiness?

What about airplanes? Who needs to travel, you can live perfectly fine where you are.  Or you could take a boat.

What purpose does TV serve?  We just watch people do other things.  I can do that by looking at a window.

 

Supply and demand determine value.  Thats it.  If you have ever once in  your entire life seen anything fluctuate in value, then don't try to tell me something is worthless, when two pounds of it is roughly what the average american makes in one year.

6 Comments – Post Your Own

#1) On August 13, 2010 at 2:05 PM, SockMarket (41.96) wrote:

Plus, copper, silver, timber, potash, it all grows from the earth, for free! Oil too!

well it doesn't exactly grow, it gets extracted.

 

To try to answer your questions:

Is that not the same thing as cash?

close the fed doesn't print the gold though

 

Does expensive clothing have any value?

I don't think so, but some ladies might tell you otherwise

 

Does anybody remember tickle me elmo?  Is it still worth as much?

I dunno. I never had one, I think it predated me by a few years.

 

On a really abstract note, what is a "purpose"?

1. the reason for which something exists or is done, made, used, etc.

2. an intended or desired result; end; aim; goal.

3. determination; resoluteness.

4. the subject in hand; the point at issue.

5. practical result, effect, or advantage: to act to good purpose.(dictionary.com)


 I would say that it is the reason for something to act/funtion in a certain way, although some people use it to mean the reason for existence.  

 

 Is a "purpose" progression of human life?  Animal life? Plant life? What do you consider progression?   no. progression happens whether you like it or not. 

 

 Is a "purpose" fun? Is it happiness? depends 

 

What about airplanes?  their purpose is to make traveling fast and to bring you to a place you can enjoy. (personally I think that if you cant enjoy your own home and relax there than you have issues)

 

 What purpose does TV serve?  to numb your mind so you won't notice when the  aliens eat it.

 

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#2) On August 13, 2010 at 2:11 PM, Valyooo (99.41) wrote:

Yeah, I understand all that, but...

With oil, the earth doesn't extract it, people do .

I know the definition of progression, but some people have different views on it (some think gay marriage is regression some think its progression)

Progression does not always happen, sometimes regression does (although progression is usually the case)

And gold serves a purpose too, looking nice. And the fact that the fed does not print gold was my point, because that makes gold more rare than cash...they both serve the same purpose, but one is more consistant and one is more manipulated (although both are manipulated)

However, we both agree on the alien brain eating TV theory.

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#3) On August 13, 2010 at 2:48 PM, 100ozRound (29.39) wrote:

You ever seen a rapper but a $100 dollar bill in his mouf?

When you have gold teef - you must respeck!

Respeck!!

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#4) On August 13, 2010 at 2:54 PM, Valyooo (99.41) wrote:

DAS WUT IM SAAAAAAAAAAAAAAAAAYIN

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#5) On August 13, 2010 at 2:54 PM, Valyooo (99.41) wrote:

(personally I would spell it respek but do you boo)

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#6) On August 13, 2010 at 2:55 PM, miteycasey (30.51) wrote:

3. Economics: No intrinsic value exists for any good or service except its price (see use value) which is reflection of its demand and supply position and not of any inherent quality.

 http://www.businessdictionary.com/definition/intrinsic-value.html

 

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