Mystique of Gold Continues

Gold Is Making a Comeback

Gold Bars & Money
Event Date: 
9 Feb 2013

Adam Creighton in The Weekend Australian  Inquirer pg 19 writes as an Economics Correspondent.

 He has created an in depth analysis of Gold as a backing for currency.  He explains that by the late 19th century all the world's main currencies were valued in terms of gold.  He writes of how the value of gold in terms of goods and services has been remarkably stable over very long periods of time.

An ounce of gold bought 350 loaves of bread in Nebuchadnezzar's Babylonia, and today the market price is about the same.

Gold has always been a threat to fiat currencies.  It has had an historical appeal as the "ultimate insurance" and a pefect hedge against inflation.

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