14+ Unique Ways Gold Is Money Everything Else Is Credit. Gold has a permanence few other commodities have. You can invest in a gold mine, but not in gold because gold is money.
Gold is money, everything else is credit. Those with real money though, gold and silver, suddenly have all the purchasing power. Gold’s purchasing power has remained remarkably stable in the past 400 years, at least until the end of the bretton woods system in august 1971.
Morgan Way Back In 1912 Said “Gold Is Money, Everything Else Is Credit” And He Was Right!
Everything else is credit. these have been thrown around for a while now. Nothing is backed by gold. In terms of real money, all prices absolutely plummet.
Morgan Way Back In 1912 Said “Gold Is Money, Everything Else Is Credit” And He Was Right!
It is often said that through history, a man could get a fine tailored suit for an ounce of gold. In 1971, president nixon made the famous decision to take the us dollar “off gold”. Gold is a physical good, while credit is essentially a promise.
While Platinum, Silver, And Copper Are Also Considered Precious Metals, Gold Has Retained Its Status As A Form Of Money.
In fact, high yield credit spreads are rivalling the dark days of 2008. True, those without any real money end up desperately poor, and that’s just horrible. Gold is money and everything else is credit.
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Gold has a permanence few other commodities have. The other area of interest since january is gold and silver. Both the egyptians and ancient greeks valued the precious metal as a status symbol.
The More Gold You Had, The Higher You Ranked In The Natural Order Of Things.
While platinum, silver, and copper are also considered precious metals, gold. The real quote that the modernised versions originate from is: He said that back in 1912 when the dollar and most developed currencies were backed by gold.