What is Value and Why is Gold Valuable?
The proponents of a Gold backed Currency claim that gold is THE ONLY REAL MONEY we have ever had, as if gold was some how imbued with divine powers in some far distant event in earths history. The fact is gold has no more value then anything else intrinsically, it only has value because WE, the sources of ALL VALUE, give it value by convention; Presumption of Fact by Convention. Presumption of Fact by Convention means, a social agreement to recognize a thing as true. Social agreements are used at all levels of society and civilizations on earth. But, a social convention can be a fiction, and historically speaking usually are. "The world is flat!" This is a prime example of a Presumption Fact by Convention, the Vatican and Pope declared the world was flat and the Earth was the center of the universe, that does not mean it actually was true, but in the world of social agreements, it was. Gold has value by Presumption of Fact that it has historically ALWAYS been valuable; which can only be true by social agreement or convention.
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