{"id":33462,"date":"2018-04-16T20:10:27","date_gmt":"2018-04-17T01:10:27","guid":{"rendered":"http:\/\/olduvai.ca\/?p=33462"},"modified":"2018-04-16T20:10:27","modified_gmt":"2018-04-17T01:10:27","slug":"how-i-own-my-gold","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=33462","title":{"rendered":"How I Own My Gold"},"content":{"rendered":"

How I Own My Gold<\/a><\/h3>\n
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Those who own gold often argue how to best own it. I encourage anyone holding gold to assess the pros and cons of different choices of gold ownership to make an educated rather than emotional decision. Let me explain.<\/p>\n

<\/a><\/p>\n

I commissioned the above cartoon back in 2011 in response to an assertion by CNBC\u2019s Steve Liesman no one would accept a gold coin in a grocery store. My take was that, hell, if I offered a gold coin, I\u2019m pretty sure I would find a taker if I wanted to exchange it for some groceries.<\/p>\n

There appears to be an eternal back and forth between those that \u201clove\u201d and those that \u201chate\u201d gold; that discussion, in my humble opinion, misses the point. It is striking how this shiny metal raises emotions by both friends and foes. Maybe it is because gold is so simple, so pure, the fact that there are fairly few industrial uses for it, that emotions take over in discussing gold\u2019s merits.<\/p>\n

The historic context matters. Gold has been used as money for millennia; yet some say it is a \u201cbarbaric relic\u201d preferring to use fiat currencies for commerce. All major currencies are fiat currencies these days, that is, they can be created \u2018out of thin air\u2019, by the stroke of a keyboard at a central bank. The modern world of fiat currencies, is in place in its current form since 1971 when Nixon \u2018temporarily\u2019 abandoned the last link to gold. The very notion of currency has been used in new ways as promoters of virtual tokens subject to a decentralized creation and sharing methodology referred to as crypto-currencies have touted that they will disrupt the way we transaction and store value. The value of crypto-currencies, of course, has been highly volatile, and none of this should be construed as an investment recommendation.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

How I Own My Gold Those who own gold often argue how to best own it. I encourage anyone holding gold to assess the pros and cons of different choices of gold ownership to make an educated rather than emotional decision. Let me explain. I commissioned the above cartoon back in 2011 in response to […]<\/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":[12606,374,19823],"class_list":["post-33462","post","type-post","status-publish","format-standard","hentry","category-economics","tag-axel-merk","tag-gold","tag-gold-ownership"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33462","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=33462"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33462\/revisions"}],"predecessor-version":[{"id":33463,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33462\/revisions\/33463"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33462"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33462"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33462"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}