Quote:
Originally Posted by Sausage
Uneducated people don't realise that gold today buys you roughly the same value of goods as it did 100, or even 1000 years ago. Gold is finite, and when a countries currency becomes worthless people will revert to gold (and silver etc).... just see Zimbabwe .. gold is one of the main currencies there now amongst the people.
Gold hasn't gained value, nor has it lost value .. its worth the same. The only thing losing value is the currency which isn't really backed by much at all. You invest in gold to protect your wealth ... and the rise of gold means your $ are worth less and less as your government pumps out trillions more ... rendering each $ worth less. Just watch the carnage when the US$ is dumped as the world currency .. that is going to be horrible to watch.
|
That's well said. However, gold actually does rise in value the more in demand it becomes, like oil for example. But the fact that the currencies are going up and down plays for most of the price fluctuations.