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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Cactus Jack who wrote (239429)5/8/2003 12:36:38 PM
From: patron_anejo_por_favor  Read Replies (3) of 436258
 
<<As a store of value for later exchange for paper currency, or as physical currency itself in dire straits?>>

Both. Nice thing about it is you don't have to choose which you'll use it for later at any given point of time.

I've been thinking about the "Store of Value/Medium of Exchange" duality as it applies to the dollar lately. Seems to me, at times when the "Medium of Exchange" role is more highly promoted by the government (FRB), the "Store of Value" role diminishes. Kinda like the Heisenberg uncertainty principal....you can't have both position (value) and velocity (medium of exchange) realized at any point in time. With gold in a sense, it's always the mirror image. When fiat's are being excessively promoted as a medium of exchange, gold excels as a store of value. When fiat currencies are excessively promoted as a store of value (not that it's happened often in the last 70 years), gold diminishes as a store of value. A longwinded way of saying inflation is good for gold, but another facet of the issue.

In any eveny, ultimately I'll sell some (probably most) of it. In the meantime, I'm eating the "horrendous" carrying costs ($180 bucks a year for a safe deposit box that holds at least a thousand ozs....boo-hoo!<G>)

To all: If you don't own ANY physical gold, I suggest you go out and buy a single gold US Eagle. Hold it in your hand, behold it's luster, and think about the role gold has played as a currency anchor for the last 5000 years. And think about this:

quotes.ino.com

Regards

Patron "Goldfinger" Anejo
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