Why Smart People are Taking Gold Seriously
Source: The Street, Alix Steel (9/14/11)
"Gold is being taken more seriously as a legitimate form of money as currencies flail."
Gold is being taken more seriously as a legitimate form of money as currencies flail and prices hit new records.
Gold's last gasp of monetary fame came between World War II and 1971, when the world pegged their currencies to the U.S. dollar and the dollar was fixed to gold at $35 an ounce. This wasn't a pure gold standard but it forced some kind of fiscal discipline into monetary systems.
Gold is a safe haven asset, a trade and a store of wealth but it can also be considered a currency and that theory is gaining steam. . .View Full Article