Quote:
Originally Posted by Hitchens
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Gold's main importance as a currency was the difficulty in counterfeiting it.
Gold's main purpose now is as a manufacturing material.
This fascination with gold is nothing more than economic crankery. Hayek didn't take it seriously and neither did Friedman.
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Gold is a valid currency as it is a finite resource with intrinsic value in manufacturing (now of electronics) and {misogynistic joke here}. Paper with pictures of dead old men on it is taken even less seriously.