I'm not sure why it should bother me that you don't agree with me on this one.
Forgive me for my absence of late, let me remind you. In the wonderful world of money, there's this little itty bitty tiny item called "stored value". In the short run, perceived value becomes value, for any market. But in the long run, it is and always has been and always will be stored value. Gold has that. Silver has that. Paper stores value for about as long as it takes to catch fire. heh, No really, that's what the basket of currencies is all about; trying desperately to store value for paper money. (created money; aka bank credit) By balancing regional markets against each other, central banks were able to artificially prop up values for their currencies. This put the onus on world trade to maintain value. In turn, this put an end to world wars, because the central banks need to keep the shipping lanes open to keep their currencies solvent.
blah blah blah, what's he talking about this time?