Quote:
Originally Posted by jigg
I don't understand the infatuation of buying "gold" not in coins but just some 1s and 0s that sit on a computer somewhere, in a pyramid scheme that is the market full of imaginary money. |
Yeah but the point is, what is the infatuation with buying dollars? Im laughing because if anything, the US dollar is imaginary and the biggest pyramid scheme in history...
Its just a piece of paper issued by a government with a promise to pay - the only thing holding it together is "convention". A US dollar has no intrinsic value so if you print enough of it, there is more of it chasing after assets and thats what causes inflation. Gold cant be printed because its a precious metal so its a more finite source of money - this is one reason why its a logical store of value versus paper money.