The paper we use today is a medium of exchange – it got that way because governments made it illegal not to accept it – but it’s not a good store of value.
March 19th, 2010 | Doug Casey | 2 comments | ContinuedAll Posts Tagged With: "Gresham’s Law"
Sustainability of U.S. Deficits Reason Why Investors Own Some Gold
“If the world goes to hell like you say, you can’t eat gold. You can’t sleep on it, although you could sleep with it I suppose. How useful is it really going to be as a medium of exchange or a store of value if economic activity grinds to a halt?”
“I don’t know. I’m not Nostradamus…
December 17th, 2009 | Dan Denning | 38 comments | Continued
Gold and its Poorly Understood Historic Role in the Financial System
The burden of today’s Daily Reckoning , then, is to remind these nattering nabobs of negativism that gold is not anyone else’s debt. It is not anyone else’s liability. It cannot be created with a few keystrokes. And for thousands of years, millions of people from all walks of life have been happy to use it as money because of its unique features…
September 15th, 2009 | Dan Denning | 15 comments | Continued
