Gold is money. But don’t be fooled, there is a difference between money and currency. Currency can be either backed by a commodity, which historically has been gold and, to a lesser extent, silver or it can be backed by debt via central banking systems, as is the case throughout most of the world today. So while currencies come and go throughout history, gold has stood the test of time throughout recorded history.
Unless you are mining it, gold does not produce income. It is a resource that throughout recorded history has protected purchasing power over a long period of time.
In episode #46 we are going to be digging into gold – Why has it been a source of wealth, adornment, and means of transacting business for so many thousands of years? How can it be used today as a hedge to protect your purchasing power? And what does this mean for you today?
Until the rise of central banks, the world operated basically on a gold standard. In our latest episode, we discuss the ramifications of this change and we’ll even get into some comparison and contrast between gold and cryptocurrency.
What You Will Learn in this Episode:
- The historic roots of gold as a source of wealth
- Why the end of the gold standard is so significant
- Why gold has remained so valuable throughout history
- Why gold is still a good investment
- Similarities and differences between gold and cryptocurrency