in ground gold reserves are reasonably well known and factored in. There is a finite amount of gold in the crust. There is no limit to the amount of digits one can add to the banks balance sheet.
dollarizing won't be possible for the USD.
The US dollar is still a very stable currency, whatever the libertarian alarmists claim.
2. User B lists a number of additional areas in science and technology that rely on the intrinsic properties of gold and bemoans financial system reliance on gold. Somewhat off topic and interesting discussion of fiat currencies ensues.
3. User C comments that gold is intrinsically worthless.
Great example of why I find HN so interesting and infuriating.
This is true for all materials and services.
> Gold as a concurrency is completely detached from gold as a useful commodity.
Is that your way of saying "I should not have said gold was intrinsically worthless"?