pater_tenebrarum

Did the ECB Save COMEX from Gold Default?

re.: 'I agree that gold is Barbaric.'

agree with whom? Keynes? if not for governments enforcing legal tender laws, gold would be our money.
no-one in his right mind would accept unbacked pieces of paper with ink slapped on them in payment. it only 'works' because it is enforced at gunpoint, basically.
due to the fact that taxes can be paid with fiat money there exists a demand for it, failing that there would be no such demand - and of course, taxes are anything but voluntary contributions.


On Apr 02 10:05 PM Francis Schutte wrote:

> What ever is written or said about Gold, history will judge like
> it did many times in the past. Yes, I agree that gold is Barbaric.
> However, each time the authorities did what is done today, people
> with Gold came out a lot better than people holding Fiat paper money
> and Govenment bonds. I still hold a lot of Reichsmarks, and even
> Gold guanranteed government bonds. An heritage of my grand father.
> I advice all wise noses to READ some history books. The Age of uncertainty
> by Galbraith is one I would advice for it explaines why we have the
> same cycles over and over again.
> In the end, whatever happens, there is no doubt holders of Gold will
> survive. Of course, I can be wrong...but in this case, they'll have
> to rewrite all history books.