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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Mike Johnston who wrote (66761)	7/24/2006 12:00:40 PM
From: mishedlo	Read Replies (4) of 110194

The dollar is not true money because it is not a store of value. Period. Gold is not true money because it is not a store of value either. Gold collapsed from 800 to 250 over 25 years while inflation ate away at the value of that gold as well. How much did gold lose to inflation over those 25 years? 90%? More? Gold and Silver were the single worst assets to hold for 25 years! Gold is certainly not a store of value except perhaps over extremely long periods of time (if then). Like it or not, the dollar is money. To me, money is legal tender that is widely accepted for the purchase of goods and services. There is no definition anywhere (that I accept) that says money must be a store of value. Money sometimes way out performs gold and sometimes does not. In that sense neither is a "store of value" so I suppose we have no money then period by your definition. Gold has proven that it can go extremely long periods of time losing purchasing power. Forget this store of value nonsense. Mish

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