Thanks for that Fred... a very interesting read.
The only problem with gold's intrinsic value is that we can't eat it.
But I don't think anyone can argue with the economics of it. And if they do, you can just hit them on the head with it.
You'd think that something like friend's dough (can't remember the name now..what's that yeast that you grow, then give a bit to a friend, grow it again.. make another loaf?) would win prizes because it 'lasts' forever and you can eat it.
Someone's got their priorities wrong somewhere!
Incidentally to any newcomers to the world of finance who haven't seen it already, I wholeheartedly recommend you see