Tuesday No, this is probably not going to go where you think. I covered what money is in Dawn of Gold; this is about something else. In this instance, the two different types of money referred to are accumulations and income. Income refers to the money that comes in from either your investments or your work. It’s also known as cash flow. Never live … [Read more...]
Gold Basics Correction
Friday In my eBook, Gold Basics, I made a point of stating to stay away from numismatics – i.e. coins that have a collectible value over and above the normal retail value of the Gold (or silver) content of the coin. The point is, that these require a specialised knowledge and that the excess value is not underpinned by the actual Gold. It is simply speculative … [Read more...]
The Ping Symphony
Wednesday I just pulled out some coins from my pocket to toss into the jar. Isn’t it fascinating that so many years after Gold and silver disappeared from circulation, the larger denomination coins are still a Gold colour, and the smaller denominations still a silver colour? Our link to the time when real money circulated is still there, but oh so very tenuously. There … [Read more...]
What is Money?
Sunday “Money is gold, and nothing else” J. P. Morgan (1912) I only learnt this original quote when reading an excellent article by James Turk today. He said that the quote was often erroneously stated as: “Gold is money, and nothing else.” Indeed it is, because that is the only quote that I had ever seen and it is not only misleading; it is wrong. Mr. Morgan’s … [Read more...]