gold bear, page-7

CT


You take Wiki as gospel? lol

Gold is money b/c it is easily transferable and transportable in the form of jewelery etc which is why for centuries during war times right up until present eg Sri Lanka those involved carry it around with them - to exchange for food, water and arms.

Try telling the Arabs and Indians that Gold is not money and see what they say.

I have covered this topic before actually and stated the obvious which is also that Gold is constantly represented on Forex Boards - unlike Oil, Copper etc. Why do you think this is so?

Also some will be aware of Digital Gold Currency for eg this site:

http://www.londongoldexchange.com/aboutus/default.asp


Lastly to quote:


http://www.lbma.org.uk/docs/conf2006/6c._fellLBMA2006.pdf
Now my topic is “Gold – Currency, Commodity,
Store of Value”.

Gold – Commodity, Currency, Store of Value
Anthony S Fell
Chairman, RBC Capital Markets

Which is it?

The answer is all three, but gold bullion is primarily a currency and a store of value and is a hedge against paper money and inflation. As an economic consultant in 1966, Alan Greenspan wrote: “In the absence of the gold standard, there is no way to protect savings from confiscation
through inflation. Gold stands in the way of this insidious process.” Unquote.

Don’t measure the dollar against the euro, or the euro against the yen, but measure all paper currencies against gold, because that’s the ultimate test.

At Royal Bank of Canada, we trade gold bullion off our foreign exchange desks rather than our commodity desks because that’s what it is – a global currency. As J.P. Morgan said in 1913, “gold is money and nothing more.” It was Alan Greenspan who said in 1999 testimony before
the US House Banking Committee that “gold represents the ultimate form of payment in the world.”

Gold bullion is the only currency worldwide which is freely tradable and which is unencumbered by vast quantities of sovereign debt and prior obligations. Gold bullion is the one investment and long-term store of value which cannot be adversely impacted by corrupt corporate management or incompetent politicians – each of which is in ample supply on a global basis. As a currency and a store of value, gold has stood the test of many centuries.

As a commodity, gold has little intrinsic worth because of limited industrial use.