Monday, May 20, 2013

What is going on with gold? - Correction

A quick update regarding Porter Stansberry's ideas on gold.  I misunderstood him. Porter says exactly the same about gold as I did in my post - he probably did so a lot earlier than my post yesterday too.

We both say that Gold is nothing more than a means of exchange and that it is impossible to put an intrinsic value on gold. Porter also says that gold is the most universally accepted form of money whether you are in the jungles of South America or the gold coin store in the city you live.

"Why", asks Porter, "would you use someone else's liabilities (currency) when you can have gold?" "gold is the preserver of net worth not an investment".

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