George notes that:
A smart-aleck line that opponents of gold use is that it’s wasteful to
devote resources to digging gold out of the ground when the government
can print paper so cheaply.
Of course this would be like saying that “it is wasteful to devote resources to digging iron ore otu of the ground and building steel mills when we could make pad locks out of paper so cheaply.” It completely misses the point.
