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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: shades who wrote (42403)12/12/2005 8:55:12 PM
From: 8bits  Read Replies (1) of 116555
 
Simply put Gold is money. A store of value. Money is used to facilitate trade in lieu of barter.

I cannot store more than a few dollars of oil in my safe deposit box. I can not store more than one months wages in the form of oil in my house.

Certainly food, oil, weapons, water, bunkers lined with lead, women who look like Angelina Jolie are considered more desirable at times than Gold and/or Money but Gold is money pure and simple and has been for many centuries. It is compact easily transportable store of value.

People from South Vietnam understood that in 1975. Chinese in 1948 understood it, so did Russians in 1918, as did Germans in the early 20s, as does much (if not all) of Latin American. North Americans very well could understand that in the coming decades.
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