Russ Frith wrote:
> just the volume of financial transactions. Coal, oil, or uranium in the
> ground is still a resource, and can underpin the value of a currency
> just as much as a pile of gold can.
Yes, but you must also look at the utility you gain by not spending it.
Not using a resource is pure market speculation.
If I were to have 25 tonnes of coal, using it instead of something else
like an outside power source (saving me money), or selling it to someone
who needed it (gaining me money more explicitly) are the only two ways I
gain from coal. Simply having it is not worth anything, except that I
/might/ be able to use it at a better time.
When will that time come? What if I do tomorrow of a heart attack?
A bird in the hand is worth 2 in the bush :)
Received on Wed Mar 28 18:07:50 2007
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