Hi 11up and all, Good post and TU from me. The two primary...

Hi 11up and all,

Good post and TU from me.

The two primary functions of money are:
1. Medium of exchange; and
2. Store of value

By these measures, gold fails as a currency.

There is little point in trying to rail against such a facetious argument. One only needs an IQ level slightly above that of an amoeba to appreciate how Gold works both as a medium of exchange and a store of value.

However, if people like you and I wish to store a portion of our wealth in physical Gold and others have their full faith in paper currencies such as the US dollar I say let them. If these people can’t see how the purchasing power of the US dollar has eroded by some 96% since 1913 well in my opinion they are probably more to be pitied rather than scorned.


“The U.S. Dollar has lost over 96% of its purchasing power since the inception of The Federal Reserve in 1913.”

http://trumanrc.com/about/reasons-for-gold.html

Of course as we know these people are not really that dense they just feel the need to try and bait people and discourage Gold ownership for nefarious reasons best known to them.

If these people feel in the face of the overwhelming current evidence that they will ever make a convincing argument for me to stop holding physical Gold then I can only arrive at one conclusion and that is, that these people are truly delusional.

Gold and Silver are just about the only payment system I know of that carries no counterparty risk.

Ask any British military personnel taking part in Operation Granby in the 1^st Gulf adventure, why they carried Gold coins and not pound notes when their lives could have depended on it that’s a real definition of counterparty risk.

Someone that one that worked in an industry that has a policy of privatising profits and passing on losses to the tax payer may have trouble understanding this concept.

https://www.arrse.co.uk/community/t...ver-know-when-20-gold-sovereigns-might.37670/

Cheers and very best regards: Andy