Post
Topic
Board Economics
Re: Gold: I smell a trap
by
foggyb
on 29/09/2011, 21:50:31 UTC


Because unlike gold I can buy stuff with currency....... And I don't know to many people that want to carry around pieces of gold to do their trade.

In Germany and Zimbabwe they had to print million and trillion dollar notes so it would easier to carry. Of course, prices of some commodities doubled every hour at the height of the hyperinflationary crisis. There is a book called When Money Dies where the Germany Weimar crisis is chronicled by eyewitness accounts. There were were several anecdotal descriptions of people using gold and silver to survive day-to-day.

Can't buy anything with gold is a bogus statement. I can trade or barter gold & silver as I wish locally. Sure, if I want to trade online, I have to convert gold to electronic currency. But its nothing close to the picture you paint where gold is no better than lead.