Dec

10

 To My Fellow Gold Advocates,

Objectivist and Forbes contributor Harry Binswanger has a new article which explains gold's spiritual value.

Gold is not "a barbarous relic" (Keynes) or "filthy lucre" (preachers) but an objective, esthetic value whose meaning has roots in the nature of how our minds work and the need for incorruptible moral integrity. Gold is the symbol of remaining pure and true. Which is why wedding bands are made of gold.

Gold jewelry is fully as objective a value as utilitarian goods, such as bread or automobiles. Those goods provide value by being consumed-by being used up. You eat bread and it is gone. You drive a car and it wears out. Gold is almost unique in being an Unconsummable Consumable. Like Aristotle's Unmoved Mover, gold provides value without being itself affected.

Gold is the ultimate expression of mind-body integration. It is the symbol of purely, "crassly" material value because it is beautiful-i.e., because it is a spiritual value.

Here is the article: "In Praise of Gold"

Kind regards,

Ed Thompson

Victor Niederhoffer writes: 

This article seems more sensible about gold than bitcoin's threat.

Jim Sogi writes:

The heft and sheen of a $1300 gold coin is beautiful. The idea that it does not require the full faith and credit of any government is also beautiful.


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  1. Ed on December 10, 2013 10:54 pm

    I the biggest reason the financial industry bashes directly owning gold is that there is no commission in it for them. I guess they could sell them (coins or bars) to you, but they want the residual income of regular management fees or commissions. Directly owning gold does not feed the system so it is frowned upon.

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