[the invisib1e hand]

gold hasn't replaced anything. I don't see people carrying bags of gold down the street to pay for things.

It is, and always has been, a universal store of wealth -- since long before the dollar existed.

[quesney]

“It is, and always has been, a universal store of wealth — since long before the dollar existed.”

Gold has effectively replaced the dollar as a safe-haven store of value. I think that’s beyond arguing at this point.

There’s every possibility the US will turn sane after the 2012 elections, but I’m not counting on it. The problem isn’t just Obama - it’s the devolving electorate that voted him into office.

[Red Badger]

The only thing keeping the dollar alive, and the euro, is faith. When that fails, everything falls apart. The liberals, elitists, one-worlders, and the room temperature IQ mouth breathing leech voters have ruined an entire nation........................

[Atlas Sneezed]

I don’t see people carrying bags of gold down the street to pay for things.

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You can say the same thing about savings accounts. Useful for storing your wealth, but not for grocery shopping.