That is the stupidest thing I have ever heard. Gold does not need to pay interest, it retains its value over time.
A dollar in 1908 will buy you what 50.00 today will buy you. Dollars pay interest only to make up for the erosion of its value.
An ounce of gold in 1908 will buy about the same amount of goods of services as an ounce of Gold today.
GOld is a STORE of value, not an investment. An investment would be my first choice, not Gold. But…..Gold would be my first choice as a STORE OF VALUE if my second choice was a u.s. dollar.
Think about it….would you want to STORE your money in money that can be printed by the billions daily or in an ounce of Gold that takes a lot of resources to create?
Being that the u.s. has promised mountains of dollars to everyone and is already in debt, my first choice is my wealth in an investment that will weather the economic meltdown. On the other hand, any uninvested cash I have I would much rather store in gold than in dollars.
