An in depth analysis of WHY YOU ARE WRONG
Thursday, May 21, 2009
Why We Must End The Fed Part Two
Mish, who has a blog I really follow and respect has a good post up about the declining values of fiat currencies around the world.
Gold is near a new high again, but it's very important to understand what's going on. Gold is really very stable in value in relation to most hard assets and manufactured goods in terms of it's purchasing power. Gold is really, just money- a real store of transferable wealth that holds it's value over time. It can't be faked or printed. You either have it or you don't. Government's today don't like it since it represents the real world they are trying to evade.
When we hear about gold rising-- what we are really talking about is that our fake money is falling in relation to gold.
Mish has a great quote from Clyde Harrison at the end.
Fiat currencies don't float. They sink at varying rates