On the Social Nature of the Value of Gold (or that of any commodity): ( 
https://groups.io/g/marxmail/On the Value of Gold (or that of any commodity): )

Director John Huston's "The Treasure of the Sierra Madre "screens on TCM this 
Saturday at 5:45 PM ET.  Beyond his father, Walter, playing a lead role as 
Howard, an old grizzled veteran prospector, John Huston makes 2 cameos 
appearances, in the film, being 'touched' by Bogart's character, Fed C Dobbs..

>From the film:

https://www.youtube.com/watch?v=boUD5eG9Bf4

Three down-on-their-luck Americans try to scrape up the necessary 'fixings' to 
go on a hunt for gold led by an old prospector (Walter Huston as

Walter Huston says to the other two, "Real bonanzas are few and far 
between.They take a lot of finding     Answerme this one, will ya?  Why is gold 
worth some 20 bucks an ounce?"

Tim Holt-I don't know.  Because it's scarce?

Huston-"A thousand men, say, go searching for gold.After 6 months, one of 'ems
lucky.  One out of a thousand. This one represents not only his own labor
but that of the other 999 others to boot. That's, er, 6000 months, that's
500 years scrabbling over a mountain, going hungry and thirsty.  An ounce
of gold, Mister, is worth what it is because of the human labor that
went into the finding of it and the getting of it."

"I never thought of it just like that."

"There's no other explanation, Mister."

Mister, there's no other explanation.

As an aside, Fred C Dobbs ( 
https://www.google.com/search?q=fred+c+dobbs+treasure&client=firefox-b-1-d&sca_esv=f2adb3232492c0ce&sxsrf=ACQVn0_Uy3TU9ajBoEl3H5OIiv6ataUDYQ%3A1712375097558&ei=OcUQZqTiIZ-iur8P47qvgAc&ved=0ahUKEwjk4qWr1qyFAxUfke4BHWPdC3AQ4dUDCBA&uact=5&oq=fred+c+dobbs+treasure&gs_lp=Egxnd3Mtd2l6LXNlcnAaAhgCIhVmcmVkIGMgZG9iYnMgdHJlYXN1cmUyBhAAGBYYHkiZNVDGEFiSMnABeAGQAQCYAW-gAYoHqgEDNC41uAEDyAEA-AEBmAIKoAK5B8ICChAAGEcY1gQYsAPCAg0QABiABBiKBRhDGLADwgIREC4YgAQYiwMY8AMYqAMYpAPCAgUQABiABMICLxAuGIAEGIsDGPADGKgDGKQDGJcFGNwEGN4EGOAEGPQDGPEDGPUDGPYDGPcD2AEBmAMAiAYBkAYEugYGCAEQARgUkgcDNC42oAfSGw&sclient=gws-wiz-serp
 ) was Bogart's name in the movie.  In the '90's there was a late blooming  
'nag' named Fred C Dobbs that raced at Hollywood Park (and Santa Anita). 
https://www.equibase.com/profiles/Results.cfm?type=Horse&refno=4293375&registry=T&rbt=TB

>From the wiki on its novel origins:

<< *The Treasure of the Sierra Madre* ( German ( 
https://en.wikipedia.org/wiki/German_language ) : Der Schatz der Sierra Madre ) 
is a 1927 adventure novel ( https://en.wikipedia.org/wiki/Adventure_novel ) by 
German author B. Traven ( https://en.wikipedia.org/wiki/B._Traven ) , whose 
identity remains unknown. [1] ( 
https://en.wikipedia.org/wiki/The_Treasure_of_the_Sierra_Madre#cite_note-1 ) In 
the book, two destitute American men in Mexico of the 1920s join an older 
American prospector in a search for gold ( https://en.wikipedia.org/wiki/Gold 
). John Huston ( https://en.wikipedia.org/wiki/John_Huston ) adapted the book 
as a 1948 film of the same name ( 
https://en.wikipedia.org/wiki/The_Treasure_of_the_Sierra_Madre_(film) ).>>

JAI


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