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[–] EyeOfHorus 0 points 1 point (+1|-0) ago 

You just explained why gold and silver are the best money. The amount of work required to mine and mint one ounce of gold serves as the baseline to define one unit of wealth. It is the foundation upon which all other values, labor or material, can be compared.

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[–] avgwhtguy1 0 points 1 point (+1|-0) ago  (edited ago)

If that were the case a world in which everyone mined gold would have more economic value than a world with doctors, scientist, engineers, farmers, tractors, televisions, etc.

Gold is one step above salt, we should keep evolving, not regress.

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[–] EyeOfHorus 0 points 1 point (+1|-0) ago  (edited ago)

If everyone mined gold, then who would cure your disease? Who would grow your food?

Each person performs the task he is best suited and most efficient. This is the foundation of free market.

The value of the doctor's labor is based on the value of the miner's labor. The value of the miner's labor is directly correlated to the amount of gold mined. Therefore, the doctor's service is valued in gold. eg, one hour of the doctor's service is equivalent to 40 hours of the miner's labor. It takes the miner 40 hours to mine 1/10 oz of gold. The doctor gets paid 1/10 oz gold for 1 hour of service.

Would you rather be a doctor or a miner?

In geographical regions devoid of gold, salt served a similar purpose. It could not be manufactured, but only harvested. Salt has intrinsic value as it kept meat from spoiling. Salt is salt and one persons salt was as good an another persons salt. It was a unit of wealth/value. Salt doesn't survive well when exposed to water.