peter d schiff , page-23

Throughout the ages an items value was determined by the amount of people wanting it and its availability, which is still the case today. For example the islanders used shells as currency, the early peoples used spices as currency because they had no fridges, and it made there off meat and food taste better. The Chinese’s used tea. The aboriginals used ochre and special stones that could be broken which had sharp edges for weapons and knives. So the point that Gold as a currency is the only thing of real value is crap. The world is different now.
Gold is no different than the dot com’s because it is a hysteria driven bubble, and there is no real substance behind the rise. The dot com boom was based on the future values which exceeded the real worth. Gold is no different.