Oh Lord, it’s time for the every few years “Gold is going to skyrocket” ads on the radio!
Gold hit $2156 in February 1980!!
And now we are at around $1500 . . .
Some hedge . . unless losing money is your thing.
Don’t worry, cue the gold bugs here who will insist that without a gold standard the country is going to ruin.
Oh no, the country won’t go to ruin. You’ll just lose 98% of your purchasing power over roughly a century. It’s like a svelte lovely smoking hot young wife, gaining 2 or 3 pounds a year. It’s barely noticeable....at first.
A gold standard is the scale. We live in a house with no scale.