Why You Don't Need Gold (Not My Article)

I'm glad a few people enjoyed the read! I personally wont be investing in gold, but I do own some. I think there's a big difference and honestly, I see better things to invest in. That being said, I'm 27 so what do I know! Now if I were offered gold at well below spot, I'd invest in that ;).

The value I see of owning gold as an "investment" is simply that gold has been seen as a source of wealth since ancient times. So even though prices may go up or down, it will still be worth something. I think the same can be said for ammunition and food though! And they are much cheaper.

I know it may seem like a simple mater of semantics, but it's a very important distinction to understand. Gold wasn't fixed against the US dollar. The dollar was fixed against a specific weight of gold. Gold is the constant. It's the dollar's value that changes and thus it's buying power for the purchase of other goods, services, and commodities.

Once this fact sinks in and is understood, it changes one's whole perspective on what gold represents, both before and after the Nixon Shock of 1971.