Quote Originally Posted by Black Flag View Post
No, sir, it does not - as exampled by the Fijians.

It is YOU who imputes the value into gold, while the Fijians do not.

If as you believe was true, then the Fijians would have seen it. They did not, because it was not there, because they did not value it.

The sign of a person suffering from serious economic crackpot theory syndrome is one who believes in "inherent" value.

Menger (an Austrian Economist) demonstrated the lack of inherent value and the imputation of value back in the 1880's. Time for you to catch up.
In this case I simply mean that the gold has applications and uses other than as "money." And is something that people will trade for in a market, somewhere in the world. Whether or not people have knowledge of, or barriers of entry to, a particular market is another question.