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24/08/20
16:37
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Originally posted by princey37:
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Technically I agree with you here, at this point in time gold is not a currency, if the powers that be decide to adopt it as a currency, or create a currency or crypto backed by gold, that that is a different story. Gold is money, currency is not money, they are different things all together. Currency does not store value over long periods of time, if I had a dollar from 20 years ago that would buy a lot of lollies, but if I held that same dollar, put it under my mattress for 20 years then went to the lollie shop today what would i get? Sweet FA! Why? Because currency does not store value. Gold does, period.
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Gold is not 'money'. Money is something you use for everyday transactions, and that's not gold. If you compare gold with stocks and property, gold is not a 'store of value'. Gold is a very lousy bet. And I can prove it.