“Gold isn’t really going up, the dollar is just losing value.”
Absolutely right...
In the Roman times a good Horse was equal to one once of Gold.
In the 1800s a good Horse was equal to one once of Gold.
Right now a good Horse is Equal to one once of Gold.
The value of Gold is rock stable.
For some odd reason, over the last couple decades my money has lost value MUCH MUCH faster at the gold shop than it has at the horse place. Or the grocery store. Go figure!
Unfortunately, gold does not earn interest and is too cumbersome for routine consumer and commercial transactions. In addition, gold has serious drawbacks as a monetary base because it is subject to manipulation. Read the history of Fisk and Gould’s gold squeeze during the Grant administration, and of the similar ill effect of US and French gold accumulation policies during the 1920s and 30s.