The Value of Gold
By GCRU Gold News on Wednesday, October 26 2016, 04:57 - Permalink
"Unlike paper currency, coins or other assets, gold has maintained its value throughout the ages."
"Digital money now is taking the place of what we used to use, not that long ago, people actually had real silver and real gold and we have paper money that generally represented how much gold and silver we had, just hundred years ago.
But the problem now of course is the seperation between that real money and the paper and ink stuff that we have and the electronic money we have today and as a result what you could buy a hundreds of years ago with a dollar bill or a pound note ... Mark what is it, 90%?
There has been massive depreciation and devaluation of money over time.
The depreciation has continued and the big danger now is that central banks don't want us to have gold, they hold onto it but they do want us using real money or even holding onto real money because it undermines their desire to keep inflating or depreciating the real value or the spending value of money.
I think we are moving to a cashless society aswell. There are pros and cons with that. Lot of pros and a lot of people think it is a good idea and certainly central banks do. The problem is that what it means is that you won't even have the paper money to be able to take it out of the bank when they start with negative interest rates which is what we are moving towards as everyone knows.
Anyone with savings are getting no return and one of the criticisms of gold for many many years, calling it a "barbarous relic" is because it had no yield didn't give you an annual interest rate or a reward for hanging onto it but that's kind of true except that it never really lost its intrinsic value. Now cash is not returning a yield, there is no return of the money in the bank which is why .... people at home ...