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Just as people say, "the market can act crazy, longer than you can remain solvent" about trading stocks on Wall Street, so I would point out that gold's value "
by patrickg_zill 13y ago
Just as people say, "the market can act crazy, longer than you can remain solvent" about trading stocks on Wall Street, so I would point out that gold's value "as money" has been around a lot longer than even the lifetime of Methuselah.
People have been using gold in some form for thousands of years - I don't see that changing anytime soon.
- mike_esspe 13y agoPeople used silver for a long time too, but it was demonetized in 20th century. http://www.dailyreckoning.com.au/silver-a-brief-history-of-de-monetisation/ http://www.dailyreckoning.com.au/silver-a-brief-history-of-d...
- patrickg_zill 13y agoPeople still buy silver as an investment, I hesitate to say "as money" ; although I told in Mexico you can buy and sell silver in many banks (I don't know the details however). In the USA, gold was demonetized (1933) before silver (1965) in the currency when used in the USA. The dollar was convertible into gold internationally however. The international gold window was closed by Nixon in 1971.