Saturday Is gold a good store of value? Yes, the best. That is why it is money. Is all value subjective? Demonstrably not. If all values were subjective then there would be nothing with which to measure value. Transactions happen, with the ease, speed and precision that they do, only because Gold, as the stable value, is there to measure value. The measure in … [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...]