utility as an adornment, why is it so efficient, both as a medium of exchange and as a store of value? And that's a very interesting question, one that I don't have an answer for. You kind of hit on exactly what I was contemplating when I was coming up with these questions. And I actually also thought about whether it's even possible to think about the value of gold or speculate about the price of gold without thinking about the value of or the faith in paper money, in the institution of paper money. That's right where I was going actually. We, you and I, denominate gold in US dollars. European people denominate it in euros. As Doug Casey famously says, the dollar is an IOU nothing. And the euro is a who owes you nothing. So you have a difficult time, nominator by the numerator, pardon me, if you're trying to value something in an instrument that is itself valueless, you have an interesting challenge. So I wonder there, maybe the next appropriate question would be, how would we go (25/45)
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