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It depends on what my objective is. Anything, whether it be Gold, Currency or what have you, is just relative. The fact that currencies and the gold spot price change every second simply confirms this fact. However for a society to function there has to be a system of legal tender, of which...

Shadow's point is that we don't measure our wealth in how many ounces of gold we have. We measure it in dollars and cents. Of course we could measure it in ounces of gold, but that would require a simple calculation. But for the common layman, gold is not the medium of exchange for everyday life.

I'm not sure how Ireland's price chart works...if the Ireland economy is in deep sh**t now, people are losing their jobs, getting paid less etc. If prices of houses are also falling, how is the ratio falling so dramatically? Shouldn't it be less drastic due to the numerator and denominator both...