we measure it, what would you say? Well first of all, I would praise you for describing it in the same fashion I see, which is to say as insurance. I mean, yes, it's many things more than that, but its value is subjective rather than objective. If you're an Indian national, as an example, the efficacy for gold, its value to you will be measured in savings in India as an example, rupiah related. Whereas in the United States, it would be US dollars related. And people need to pay different premiums for different amounts of insurance for different reasons if you follow me. The value is subjective. I mean, I have been interested in gold as an investment. I've been philosophically interested in gold for a very long time. And occasionally I ponder Buffett's description of it as a pet rock. The difference of course is that Buffett ignores 6,000 years of history. He ignores the fact that if you were a Vietnamese person at the end of the Vietnam War, you were either a prisoner or you had gold (23/45)
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