Gold, Global Debt and Currency time bomb

It depends in which camp you fall, if you have an unwavering belief in the value of the Fiat monetary systems and the intervention of central banks the continuing interest in gold as an investment seems like investing in dinosaur futures. Its ironic that those who urge us to invest in the future innovations of robotics , biotechs , nanotechnology and other technologically based innovation refer to gold investment as speculative and non productive defensive investment , when in reality the US dollars that these innovation stocks are denominated in may prove to the most speculative investment in history.

That's not to say that throughout history gold has not seen similar politically motivated abuses of it value, its just that now we are in a Fiat debt bubble not a gold bubble. If we want to rationalize that gold has become purely an industrial commodity, subject to the normal laws of supply and demand we need to remember that gold has been in deficit industrial production for many years and the demand that's been out there is substantially industrial demand and not an investment demand.

FIAT MONEY and one of the causes of economic troubles in the world by Craig Tindale

The invention of money makes trading easier. With money, all prices can be expressed in the same way, in terms of how much money is needed to buy the product. The unit of money becomes the measuring stick of value With a standard of value, computing the costs and benefits of various options, that is, making choices, becomes easier.

Concepts of Wealth

Wealth is a concept given different meaning in different times in different cycles of the world civilization. Man through out the ages has made the cultural cotextual conceputualisations of many impossible to define concepts like identity or difference, or infinity of the universe, concepts which the Constructists like Buddha, Lao Tzu and Narajuna refused to be drawn on, Shumpeter devotes some apects of his his musing about Marxs works on the subject. The Objectivists like Schumpter and Rand The eastern paths had a notion of emptiness and applied it to all concepts being empty of meaning, emptiness is an antidote to grasping for unrealizable concepts . Wealth has a similar position as unrealisable concept in that it means different things to each individual and epoch.

The way "we" as human beings obejectivise our own concepts as " things" rather than evolving ideas is at the heart of evolution toward wisdom . What do you think ?

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