Gold As an Investment
The decade long flight of wealth from fiat foreign currencies and naked stocks, to gold, as a safe haven to guard against monetary chaos and worldwide depression, is a wondering aberration of market conjecture. Considering the large amount of information available to those wealthy enough to be able to own gold, and the history of gold and silver as money to be used for purchasing consumables; one wonders why companies, banking institutions, and people of riches, along with their financial advisors, are so inadequately informed about the impracticality of owning gold as a potential emergency money for individuals and businesses; especially considering the current very distorted relative value of gold to silver precious metal.
Since I am more than sixty years of age I can reminisce that I grew up with silver profit my pocket, though I do never recall even finding any gold money; and mother and father, grandmother and grandfather, and great grandparents all had silver profit their pockets, nor did they ever speak of having or using gold as money.
While silver was domestic money for more than 100-years here in the U. S., both as coin and forex backed by silver; and was employed by consumers to get their food, clothes, and shelter. Gold, on the other hand, has recently been employed by governments, banks, and international businesses during the past century to negotiate international trade accounts, and not as domestic money. Both gold and sterling silver ceased to be used as money by banking companies and government by the year of 1971. So buying gold to hold for an later use as domestic money to acquire consumables is amazingly silly, if not downright stupid.
