I'll just comment that gold is a commodity, but it is also the oldest form of money. It is helpful to think of it as money, just like the dollar bills sitting in your wallet. You can literally take gold anywhere in the world and use it essentially as money, because it has an established value at all times and places. It has advantages and disadvantages as compared to different kinds of money. One advantage compared to say dollar bills is that, at least over the long term, it doesn't lose value to inflation; whereas the dollar bills in your wallet are guaranteed to lose value per Fed policy. True, you can't eat gold, but you also can't eat dollar bills.
Statistics: Posted by stuper1 — Mon Mar 18, 2024 9:44 am — Replies 185 — Views 20655