{"id":3216,"date":"2014-12-18T11:08:52","date_gmt":"2014-12-18T16:08:52","guid":{"rendered":"http:\/\/olduvai.ca\/?p=3216"},"modified":"2014-12-18T11:08:52","modified_gmt":"2014-12-18T16:08:52","slug":"this-is-what-gold-does-in-a-currency-crisis","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=3216","title":{"rendered":"This Is What Gold Does In a Currency Crisis"},"content":{"rendered":"

This Is What Gold Does In a Currency Crisis<\/a>.<\/p>\n

To say that gold is in a bear market is to misunderstand both gold and markets. Gold isn\u2019t an investment that goes up and down. It is money in the most basic store-of-value sense. Most of the time it just sits there, and when its price changes in local currency terms that says more about the local currency than about gold.<\/p>\n

But when currencies collapse, gold shines.<\/p>\n

Consider the above from the point of view of a typical Russian. The ruble is tanking (no need to understand why \u2014 all fiat currencies go this way eventually and the proximate cause is almost irrelevant). Russians who trusted their government and kept their savings in, say, a bank account, are losing their shirts. But those who own boring, doesn\u2019t-pay-interest, in-a-bear-market gold have seen their capital appreciate in local currency terms by about 60 percent in just the past month. They\u2019re not \u201cmaking money,\u201d but they are preserving wealth.<\/p>\n

\"Russian<\/a><\/p>\n

<\/p>\n

<\/a><\/a>…click on the above link to read the rest of the article…<\/span><\/span><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

This Is What Gold Does In a Currency Crisis. To say that gold is in a bear market is to misunderstand both gold and markets. Gold isn\u2019t an investment that goes up and down. It is money in the most basic store-of-value sense. Most of the time it just sits there, and when its price […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[1976,374,647,694],"class_list":["post-3216","post","type-post","status-publish","format-standard","hentry","category-economics","tag-currency-crisis","tag-gold","tag-precious-metals","tag-russia"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3216"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3216\/revisions"}],"predecessor-version":[{"id":3217,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3216\/revisions\/3217"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3216"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3216"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}