Jim,
RE: need for gold
are you married? Do you have a daughter? Jewelry is a very important [need] to many people. In India, it is a basic part of the culture.
Here is a concept everyone should get their mind around.
Why money works. (This is not the how it works concerning the Fed, the banks, the whole mess) the is the Why it works.
Currency only works so long as there is a faith in the issuing government,bank, or other entity.
Checks are a form of currency. In the 80's in West Texas, prior to a few banks failing there were a few well informed business that would not accept checks drawn on some banks. Some of these business would instead gladly "barter" for silver,gold, Marks, Swiss Francs, I even saw a home sold for Yen. The value of the US dollar is also set this same way today via faith, trust, & and barter. If (when) the trust,faith, or power wane.....
Gold is (at some level) just another currency. Let me refer you to the quote for Ayn Rand:
"Whenever destroyers appear among men, they start by destroying money, for money is men's protection and the base of a moral existence. Destroyers seize gold and leave to its owners a
counterfeit pile of paper. This kills all objective standards and delivers men into the arbitrary power of an arbitrary setter of values. Gold was an objective value, an equivalent of wealth produced.
Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it. Paper is a check drawn by legal looters upon an account which is not theirs: upon the
virtue of the victims. Watch for the day when it becomes, marked: 'Account overdrawn.'
catalog.com
These words James, show the need for gold better than any others in all of all time.
rh
|
