fiat money

“A Nation of Gold Diggers”

The OTHER Problem with Sky-High Gold Prices No, Donald Trump doesn’t have that many ex-wives (yet). What I actually had in mind was the distorting effect high gold prices have on economic activity. That’s in addition to the economic cost associated with skittish, defensive investors shifting a fraction of their liquid assets from “fiat money” (paper) to...
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The Gold Tax

The $64 Trillion Question What do rational savers and investors do in an environment of zero percent interest rates, where the daily headlines speculate how long major currencies (like the U.S. dollar) will hold their value as national debts mount? Switch (at least) a little of their holdings to gold. Even if that amount is...
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