Ultimately it is irrelevant to me if the Nez Perce and their neighboring tribes didn't value gold at all, for hundreds of years, too.
What matters is looking at the world today, taking into account the stewards of the current money supply for me (the clownbuck clowns), and deciding upon a vehicle to use hopefully as an effective store of buying power.
Gold would not be something I would *spend* in the future; rather it would potentially be what I'd use for conversion into the local currency/barter system.
It *is* a probability game, with some chance of a zero return. But I weigh that probability of total or partial loss against the equal return for the clownbuck, kiwi dollar, refrigerators stored in my garage, etc. -- in other words, a hedge against our economic unreality having a severe downside.
For me gold isn't problem free, nor any other alternate store, or else I'd actually have some already. I do have some PM stocks and funds, but nothing buried in a hole in the ground. I'd probably sleep better if I did, but alas, I cling to the belief that I can do that later when gold is cheaper. The legions of naysayers help me maintain that belief for now. |
