RE: RE: To: LGLG,
You need to read more carefully the post you just replied to. I did not switch definitions of Ag from ornamental to industrial between posts. I said "For most of history, silver was mainly an ornamental metal, such as gold " BUT NOT NOW. Now that Ag has industrial uses, the mechanics of demand are different. That is my disagreement with you. You are treating Ag as if it is a soley precious metal as it was 200 years ago. Ag has uses now beyond that of ornamentation. What has come to an end is the era where silver was valued only because of its rarilty and aesthetics, not due to any chemical/physical properties. Please read and understand posts before you crticize.
I agree with you that some currencies are inflated, e.g. the USD, and that the US is evasive as to how much they have in reserves. This was not the issue of the article you criticized or the comments thereafter.
However, there is no guarantee that any nations that choose to more strongly back their currency with physical assets will choose silver. Au, PGEs, oil, natural gas, energy, etc. can all fit this in some way as can some other strategic resouces: REEs, W, Cr, In, Be, the list goes on. Ag is a reasonable candidate, but not the only candidate.
I NEVER claimed that a paper currency without assest backing was more valuable than hard physical assets. If I did, please show me.
Regards,
Diopside