Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Oblomov who wrote (76695)	3/22/2008 10:24:21 AM
From: blazenzim	Read Replies (1) \| Respond to of 116555

Can you buy groceries, pay rent, buy clothing, buy a car, buy real estate, or buy anything with a gold coin(s)? The answer is no for 99.99% of the places in the world. Sure, it's possible to negotiate a private barter transaction with gold just as it's possible to trade anything of tangible value. If you can't use it as a medium of exchange, then it's not money. If the fiat money system crashes and burns, then the world might return to a gold standard. I would put the odds of a global monetary meltdown at about 5% over the next 50 years. That's a high enough percentage that it makes sense to own gold as an insurance policy. Gold might become money again but it's not money today.