mudsling3
Sentinel
- Joined
- October 25, 2006
- Messages
- 560
Currency/money, I am sorta just use them for granted just like many other people. Not until recently I came to some better understanding of these terms and concepts such as: Fiat money, inflation, central banking, gold and silver standard…
“Buying gold and holding it is somewhat analogous to converting one’s savings into one hundred dollar bills and hiding them under the mattress-- yet not exactly the same. Both gold and dollars are considered money, and holding money does not qualify as an investment. There’s a big difference between the two however, since by holding paper money one loses purchasing power. The purchasing power of commodity money, i.e. gold, however, goes up if the government devalues the circulating fiat currency.”
http://www.ronpaullibrary.org/document.php?id=537
“Buying gold and holding it is somewhat analogous to converting one’s savings into one hundred dollar bills and hiding them under the mattress-- yet not exactly the same. Both gold and dollars are considered money, and holding money does not qualify as an investment. There’s a big difference between the two however, since by holding paper money one loses purchasing power. The purchasing power of commodity money, i.e. gold, however, goes up if the government devalues the circulating fiat currency.”
http://www.ronpaullibrary.org/document.php?id=537
- Joined
- Oct 25, 2006
- Messages
- 560