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Relative to what? I'll take precious metals over a fiat currency (any of them) any day.
by daeken 17y ago
Relative to what? I'll take precious metals over a fiat currency (any of them) any day.
- brl 17y agoSuit yourself, but the price of gold will go wherever the powers that be want it to go.
- daeken 17y agoErr, this is different from the Treasury how?
- seunosewa 17y agoIf it's not different, then you have no reason to prefer one over the other.
- daeken 17y agoThe difference is that the market controls the price of gold, whereas the Treasury's actions directly control the value of T-bonds and the like. Yes, it's possible to impact the price of gold to an extent, but there's no way anyone can argue the degree of control is even comparable. It just baffles me that you can justify Treasury securities by saying you can artificially control the price of gold.
- brl 17y agoAs it baffles me that you believe the opposite.
- deleted 17y ago[deleted]
- mellis 17y agoSo would many people (especially in today's economic climate), which is why gold is much more expensive than it was in the 80's and 90's (see: http://goldprice.org/30-year-gold-price-history.html http://goldprice.org/30-year-gold-price-history.html). If today's uncertainty subsides, gold could cheapen considerably, inflicting large losses on anyone who invests in it now. Of course, if you think dollars are even riskier than most people do, it may still be worth investing in gold. But not simply because it's not a "fiat currency".