Comment: So you equate value with

(See in situ)

In reply to comment: Correct. (see in situ)

So you equate value with

So you equate value with price? How can that possibly be so?

Water has intrinsic value, as it is necessarily for our lives. We drink it, we grow our crops with it. Scarcity affects the price, but this doesn't change the genuine uses of water; waters actual value.

Same with gold, and silver. They have genuine uses (intrinsic value), regardless of price.

Price is intrinsic value, and scarcity together. You call this market value, price, simply "value"; it isn't. You and those like you, Austrians, have been bamboozled.