I beg to differ.
With gold, there is a finite quantity....we may not know quite how much we will harvest but its supply is ruled by reality. With gold, you have a limited supply...so when the demand goes up, you can't create more, but paper money can be printed forever in endless quantities. Throughout history, governments have printed the stuff and until they run out of ink, and they will continue. (Printing too much = inflation)
If you look any one of the paper bills in your wallet and read what it says on there, you will realize that your paper dollar is an IOU from the government.
Bottom line: paper money can be created....like mad, whereas gold cannot.
There are way too many people that think gold has value to class it with paper "money". Gold and is true money because when you hold it, you're not holding someone else's debt.
If things go bust you can eat cows. Ever try eating gold?
Knew an old guy who'd had a really good harvest of tulip bulbs in 1942 or so in Nederland ~ in Walcheren Island (Middelburg).
Next thing you know there was a European famine, and then the military broke the dykes to drown the German army in that area, and he was living up in the roof.
He'd sell you a tulip bulb for a 1 caret diamond.
BTW, tulip bulbs are edible and he was selling them to the hungry.
If things go bust you can eat cows. Ever try eating gold?
Knew an old guy who'd had a really good harvest of tulip bulbs in 1942 or so in Nederland ~ in Walcheren Island (Middelburg).
Next thing you know there was a European famine, and then the military broke the dykes to drown the German army in that area, and he was living up in the roof.
He'd sell you a tulip bulb for a 1 caret diamond.
BTW, tulip bulbs are edible and he was selling them to the hungry.