4 ms·
Because you can't counterfeit gold. The US Dollar, on the other hand, has been counterfeited by the federal government to the point where it has lost %99.99999
by MCRed 11y ago
Because you can't counterfeit gold.
The US Dollar, on the other hand, has been counterfeited by the federal government to the point where it has lost %99.99999999 of its value. Making it a depreciating asset. Historically, gold and silver have maintained their value.
Read what an economist has to say about it: http://mises.org/money.asp http://mises.org/money.asp
- itsnotlupus 11y agoBut you can counterfeit paper gold, which is what this is. Or perhaps more accurately, you can default on a promise to redeem a paper debt for a given amount of gold. The US Dollar is at least upfront about it. It cannot be redeemed for gold or anything else anymore. Also, your 10 nines seem inaccurate. Apparently $1 from 1665 would have the buying power of almost $26 today. That's certainly depreciating, but nowhere near the extent you're portraying.