Monday, November 21, 2011

So Gold is Down $50?

Gold down about $50 today. As mentioned, gold gets caught in the cross hairs of the crumbling fiat system because it is priced in dollars. Some see this as an abstract concept, but it is really not since long before there was a dollar there was always this medium of exchange called gold. Gold's intrinsic value has existed for as long as it has been available to use as a means of exchange. Paper? Is just that, paper, with virtually no intrinsic value. Long after the dollar is gone, gold will still be there and will still have real value. Use gold now to translate dollar paper value to the core intrinsic value of gold that will always be there. It's that simple. These daily price swings don't matter since the premise of pricing gold in fiat dollars is faulty to begin with. Dollars and their declining value have only proved the point that gold is a lasting medium of exchange while paper dollars have been steadily sinking. So gold down $50? no big deal unless you're gaming gold to make a quick fiat buck.

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