tag:blogger.com,1999:blog-2761684730989137546.post840131872802975009..comments2024-03-29T02:19:19.866-04:00Comments on Mike Norman Economics: Fiat is miraculous? No. It's Called the Return-on-Coordinationmike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-2761684730989137546.post-73902487509682718602012-12-10T21:36:22.208-05:002012-12-10T21:36:22.208-05:00Kimball Corson, Worried Republicans Stocking Up on...Kimball Corson, <a href="http://www.sailblogs.com/member/thewanderer/?xjMsgID=253198" rel="nofollow">Worried Republicans Stocking Up on Gold Coins</a>Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-36515873870279013532012-12-10T21:28:06.100-05:002012-12-10T21:28:06.100-05:00The value of gold is what it costs to mine it, ref...The value of gold is what it costs to mine it, refine it and assay it. Unless it is shaped into jewelry so come other value is added, the exchange value of bullion in excess of cost is purely subjective.<br /><br />Of course gold coin is worth the stamped value unless the bullion value exceed that. However, when coins are minted the metal value is less than the stamped value, and the difference is the seigniorage that goes to the sovereign.Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-69143200458904954492012-12-10T20:58:22.386-05:002012-12-10T20:58:22.386-05:00what intrinsic value does gold have?
is it at all...what intrinsic value does gold have?<br /><br />is it at all useful? since it's only value is derived from what useful things others will exchange it for. how is that different than fiat.miller Bhttps://www.blogger.com/profile/02762669539585818441noreply@blogger.com