Hello Bj”rn,

On Thursday August 08 2019 09:45, you wrote to Lee Lofaso:

 LL>> Yes. The dollar will fall.
 LL>> But not before the euro.

 BF> That can very well happen, but only because the FED has so much gold
 BF> deposited by around 60 Central Banks throughout the world in their
 BF> vaults, that I doubt they will hesitate to use themselves.

Imagine one night a scorcerer turns all the gold in the vaults into led. What 
will happen? Nothing of course. Not right away. Next morning it will be 
bussines as usual. As long as nobody looks and everyone still believes what is 
in there is valuable, nothing will happen... Until someone takes a look and 
finds out... then all hell will break loose.

You know what... it has already happened. Gold has little or no intrinsic 
value. It has value just because the vast majority of people believes it is 
valuable. Not much different from those pieces of paper showing Dollar, Euro, 
Rubel or Yuang signs.

One can not eat gold. As an industrial material it is pretty useless. It has 
low electrical resistance but it is not strong enough to make electrical cables 
and it is heavier than aluminium for the same Meter/Ohm. It has high inertia 
against corrosion in daily life which makes it suitable for jewelry, but that 
is about it. Even for paving roads it is no good. Too slippery and it wears off 
to quickly.

Gold has little more intrinsic value than many other common metals. Humanity 
just has not discovered that fact. Wait until the great famine returns and 
someone tries to trade his inedible gold for food...


Cheers, Michiel

--- GoldED+/W32-MSVC 1.1.5-b20170303