Список проголосовавших за комментарий "Your topic is a clear example what happens, when a person theorizes on subject where he has no real economic knowledge whatsoever. You better learn something about exchange of goods in human societies — how markets for goods and services actually work and what's the mechanics inside it. <br/> Gold is a monetary good, monetary commodity. Money per se is nothing more (and should be no less)than the most marketable good. Simple observations, math and logic lead as to the obvious fact that the «most marketable good» is the good with most stable (constant or very slowly decreasing) marginal utility. When we touch the concept of «marginal utility» that's where the «stock to flow» ratio jumps in. You pointed that the existing inventories («stock») of gold are very large and rising over time, and your point was that's somehow a bad thing. You are absolutely wrong obviousely — the very high «stock to flow» ratio (several decades for gold against several months for copper or crude) — is what actually makes gold a monetary good «par exellence». Another big point you missed regarding monetary functions of gold — is that the gold is an «ultimate extinguisher of debt». Gold money has positive value and when you pay off any debt in gold coin, that debt disappears from economy until the new loan is made. When you have no gold money in the system (our real situation nowdays) — the total debt is only growing over time, there is no means to extinguish it. Economic actors now can not liquidate the debt — debt is only transferred from one entity to another and overall debt is only growing. Excess debt is the reason for the most economic problems we have worldwide."