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Gold, platinum, silver that's availible - are people fooling themselves?
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<p>[QUOTE="Cloudsweeper99, post: 823886, member: 3011"]Of course! <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie9" alt=":eek:" unselectable="on" unselectable="on" />hya: I won't recount it here, but there are many sources that explain the characteristics that make gold the most suitable of all materials to be the "best by test" form of money. This is the reason why central banks are accumulating gold reserves while professing the merits of paper as they conduct attacks on the gold price. It's why Lincoln and Roosevelt confiscated it. It's why J.P. Morgan once said under oath, "Gold is money, and nothing else is." </p><p><br /></p><p>I can't cite a specific example, but I bet it will be the Haitian with a little gold who will be able to purchase [or bribe] food or medicine from the relief organizations down there while other wait in line, or never get any. It's the way the world has worked from the beginning of civilization. Gold isn't always the best holding, but when added to a diversifed portfolio that is periodically rebalanced, it's been shown to increase both safety and total return. The amount of gold in existence above ground is said to increase by about 1-2% annually. As long as the rate of growth in paper fiat currencies increase at a faster rate, there will be reasons to own gold.[/QUOTE]</p><p><br /></p>
[QUOTE="Cloudsweeper99, post: 823886, member: 3011"]Of course! :ohya: I won't recount it here, but there are many sources that explain the characteristics that make gold the most suitable of all materials to be the "best by test" form of money. This is the reason why central banks are accumulating gold reserves while professing the merits of paper as they conduct attacks on the gold price. It's why Lincoln and Roosevelt confiscated it. It's why J.P. Morgan once said under oath, "Gold is money, and nothing else is." I can't cite a specific example, but I bet it will be the Haitian with a little gold who will be able to purchase [or bribe] food or medicine from the relief organizations down there while other wait in line, or never get any. It's the way the world has worked from the beginning of civilization. Gold isn't always the best holding, but when added to a diversifed portfolio that is periodically rebalanced, it's been shown to increase both safety and total return. The amount of gold in existence above ground is said to increase by about 1-2% annually. As long as the rate of growth in paper fiat currencies increase at a faster rate, there will be reasons to own gold.[/QUOTE]
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Gold, platinum, silver that's availible - are people fooling themselves?
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