[quote=Nor-LA-SD-guy]
Gold hmmm can’t eat it, it won’t keep you warm etc…
to each their own.
[/quote]
I absolutely agree with that. That’s why I said that replacing paper money with metal money is kind of an almost arbitrary thing. But, you can’t eat greenbacks any more than you can eat gold, and yet people still accept these silly pieces of paper in exchange for food. The gold bet is, like I said, speculative, hoping that people will accept gold in exchange for food when faith in paper money evaporates. I see the logic of gold bugs, that it’s human nature that we are unlikely to go all the way back to the barter system entirely, so some medium of exchange will be needed and gold is the time honored convention. I personally have no faith in gold either, I think it is almost worthless. Kind of pretty, much harder to counterfeit than paper money (in my opinion, Bernanke is currently engaged in counterfeiting), but otherwise largely useless. But if people all jump on board because that’s what they do… Oh what the heck.
