ronslim

The End of Gold

My barber wouldn't touch gold with a ten foot pole, says he's selling his junk gold to cash4gold. i think the easy short is bonds. Trading gold is for fools, probably more than treasure hunts.

However I buy gold, keep, each and every month, and I don't care what the current price is dollars. The absolute safest bet on a deflation scene is long cash. Why get cute?

Bernanke's Great Lie: The Gold Standard and the Great Depression

It seems to me that legal tender is in fact the main issue. If allowed to use grams of silver,gold, or whatever as money in contracts etc. the fiat currencies would either be restrained (unlikely) or rapidly and correctly valued. The peoples money would be the vehicle of choice for savings if not for buying groceries.

Fiat Money and a Profligate Congress: A Bad Combination

Money in the exclusive control of government will be debased in some way, always. Private money is the only sound money of a free society.