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The problem is that you are comparing inflation/deflation in amazingly small amounts with gold (given the reality connection to actually having to have gold in
by gibsonf1 17y ago
The problem is that you are comparing inflation/deflation in amazingly small amounts with gold (given the reality connection to actually having to have gold in your hands mined from the ground) to the radical change you get with paper which is happening right now as the printing presses are running 24/7 at amazing speeds. Watch the hyper inflation we get next year and tell me how that could have happened with gold?
- Retric 17y agoI would, bet you 1000$ (or an ounce of gold) that we will not see hyper inflation or even significant inflation (15%+/year) next year. Also, due to the increase in global weath every year we need a currency that increase in supply to keep up. Otherwise you get deflation which can happen with gold and distroyes the ability to lend and borrow. Not to mention the fact that their is not enough gold in the world to replace the USD without dramaticly increasing it's value. PS: You can also see significant inflation with gold for a long term historical example look at spain after the new world.