Inflation has been ongoing. A dollar is worth about 1/7 of what it was when I was kid.
Inflation serves the purpose of creating an invisible tax; the value of Federal debt goes down, and people are forced into higher tax brackets, increasing the Federal Government’s cut.
This is probably the only thing I like about gold. It keeps the Federal Reserve from counterfeiting. Which, BTW, is what “Quantitative Easing” is.
“Inflation has been ongoing. A dollar is worth about 1/7 of what it was when I was kid.”
Which is why I began buying small amounts of gold and silver as far back as High School. Even then, I understood. Some may argue that gold has not done as well over the long term as stocks, but at least it won’t evaporate like intangible assets.
“This is probably the only thing I like about gold. It keeps the Federal Reserve from counterfeiting. Which, BTW, is what ‘Quantitative Easing’ is.”
I don’t understand your point how gold has prevented the Fed from counterfeiting — they have been doing that for quite some time, and gold hasn’t stopped them. Rather, I see gold as my personal protection against the inflationary effects of counterfeiting by the Fed.