is gold money ?, page-3

  1. 871 Posts.
    Is GOLD money?

    Money is any object or record that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, occasionally in the past, a standard of deferred payment. Any kind of object or secure verifiable record that fulfills these functions can serve as money.

    A "store of value" sticks out to me.
    All the fiat currencies of the globe fail miserably as a "store of value"
    So is GOLD money? You decide.

    “Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912.
 
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