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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 374.27

-0.2%

Nov 21 4:00 PM EST

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To: Andeveron who wrote (41146)	10/11/2008 2:33:29 PM
From: prometheus1976	Read Replies (1) of 217984

You're talking a return to the Stone Age.The world was on a gold standard of some sort for most of the last 1000 years( until about 35 years ago).The world functioned o.k. usually. Except in the most dire local disasters,gold served as a medium of exchange,a store of value,and a facilitator of trade. The question is basically,"Which system is more stable and preferred, fiat currency or a precious metals system,or a whiskey system,or a tobacco system ,or a wampum system?" Taken a step further the question is" A fiat currency or a convertible currency with safeguards" Both systems have their drawbacks,but i don't know of anyone in history who was wiped out because they had too much gold.i do know of many who were financially decimated because they had none. Regards,P1976

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