Where is the gold price headed?, page-29

Well that's completely ridiculous Marri. Throughout history, all other money has lost more buying power than gold. Money has many functions. Preservation of value is one where gold excels. The bears will argue that because gold has less liquidity than the recognised fiat currency in any given area, then it is not currency. But that only shows up it's lower capacity than tier 1 currencies for exchangeability. But it remains universally more exchangeable than most of the world's dodgy fiat notes and coin. As such it is money. In some functions it performs better than all other money, in others it is lower ranked. You just poked a stick at where it historically performs the best.