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<p>[QUOTE="medoraman, post: 4186284, member: 26302"]Well, first of all, you can substitute ANY commodity for "gold" in the above post and it reads the same.</p><p><br /></p><p>Second, gold definitionally is not "money", since "money" is government issued, not random commodities. Sure, you can trade a commodity in any country in the world for something, be it gold, silver, oil, bag of corn, but that does not make it MONEY. Unless you are claiming a bushel of corn or rice is also money......</p><p><br /></p><p>Third, not one fiat currency has ever been designed to BE a long term store of value. Currency is to facilitate TRADE. You get paid in currency, and you TRADE it for a house, food, investments, etc. In this circle, gold is a commodity or investment, not currency. If you are stockpiling a pile of US currency, Euros, etc under your mattress, you are doing it wrong. </p><p><br /></p><p>Now, want a compact commodity to hide from potential government forfeiture? Want a compact commodity in case you need to smuggle yourself out of a country? Sure, gold, diamonds, etc are good options.[/QUOTE]</p><p><br /></p>
[QUOTE="medoraman, post: 4186284, member: 26302"]Well, first of all, you can substitute ANY commodity for "gold" in the above post and it reads the same. Second, gold definitionally is not "money", since "money" is government issued, not random commodities. Sure, you can trade a commodity in any country in the world for something, be it gold, silver, oil, bag of corn, but that does not make it MONEY. Unless you are claiming a bushel of corn or rice is also money...... Third, not one fiat currency has ever been designed to BE a long term store of value. Currency is to facilitate TRADE. You get paid in currency, and you TRADE it for a house, food, investments, etc. In this circle, gold is a commodity or investment, not currency. If you are stockpiling a pile of US currency, Euros, etc under your mattress, you are doing it wrong. Now, want a compact commodity to hide from potential government forfeiture? Want a compact commodity in case you need to smuggle yourself out of a country? Sure, gold, diamonds, etc are good options.[/QUOTE]
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