this post was submitted on 19 Sep 2023
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Work Reform

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[–] bennieandthez@lemmygrad.ml 3 points 1 year ago (1 children)

Precious metals are commodities, money is used to exchange commodities. Using a commodity as money is obsolete. I get that youre mad at the feds but that's a systemic problem, not moneys fault. Its like getting mad at biotech for the practices of Bayer.

These commodities are not inherently valuable, the labour required to extract them is what gives them valuable.

[–] twack@lemmy.world 3 points 1 year ago (1 children)

Or, in the case of diamonds, artificial supply restriction, marketing, and demand.

[–] bennieandthez@lemmygrad.ml 3 points 1 year ago

Yeah of course, you can always trick people into believing something has value when it doesn't. But as long as you know where value comes from, no one can trick you into buying a Pokemon card.