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Thursday, August 25, 2011

Gold

Olaf Stapledon somewhere writes about a primate society of the future which exhausts itself in the frenzied pursuit of essentially useless bright and shiny metals, and they melt back into the undifferentiated mass of primates from which they sprang.

He also wrote in the same book about the frenzied use of fossil fuels by mankind, mostly in aeroplanes and ritual flying, but he was spot on about the eventual depletion of fuels and the baleful effects this would have on the present and the future.

Getting back to the apes and their pursuit of Gold and Shiny Metals: as much as we have inveighed against Wall Street working at phantom financial instruments that add nothing to the "real" economy, we do not seem to mind that Gold adds nothing to the economy, either.
We are so used to phoniness that real investment eludes the majority of us. Gold is a bright, shiny, and essentially worthless metal, unless you need its malleability or the fact that it does not tarnish.

This business of phony investment seems to be so ingrained that only a catastrophe may change it. When a society values economically worthless things over items that have real value and contribute to the betterment of society.... well. draw your own conclusions.
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