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<p>[QUOTE=&quot;doug5353, post: 2117411, member: 73555&quot;]This looks like the entire quote: </p><p><br /></p><p>&quot;Gold, unlike all other commodities, is a currency...and the major thrust in the demand for gold is not for jewelry. It’s not for anything other than an escape from what is perceived to be a fiat money system, paper money, that seems to be deteriorating.&quot;</p><p>-– Alan Greenspan, ex-US Federal Reserve Chairman, August 23, 2011</p><p><br /></p><p><br /></p><p>===========</p><p>When I buy PMs, I am escaping from a fiat money system, which is my prerogative.&nbsp; In 1913, the year the Federal Reserve was created, a paper dollar was worth a dollar; a century later, BLS and Treasury estimate it&#039;s worth 5c to 7c of that 1913 dollar, plus some (unknown) allowance for technological advancement in like goods.</p><p><br /></p><p>I would add the observation that China and Russia have bought enormous amounts of gold bullion in recent years, and lightening up on dollar-denominated assets in the process; they must not have read your post.[/QUOTE]</p><p><br /></p>

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