No. of Recommendations: 0
Gold and silver are only money if you can find someone to take it. Exactly the same as fiat money.

Gold is quite liquid and is easily exchanged at spot price. Plus, it has a track record of being used as a store of value for thousands of years. Fiat regimes, on average, last less than 100 years before they go to 0.
A dollar in 2013 will buy about 3 cents worth of what it would buy a hundred years ago, so our dollar is well on its way to zero. An ounce of gold, however, still has the purchasing power it had 100 years ago. One could argue.. that it even has a bit more purchasing power.

Why this difference between fiat monies and gold?

Quite simple, really..... you can't print gold.
Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.