A number of economic pundits and gold ownership proponents online take a rather cynical view toward the US Dollar (and other central bank created currencies), as they view them as fundamentally less sound and less reliable means of storing value.
From the pair.offshore blog, a good summary of what drives that sentiment:
Even though the US dollar history is like a dishonest Goldsmith Banker issuing more receipts for gold than he has gold, central banks around the world continue to hold US dollars as reserves. The US continues to print more, stealing value from countries around the world with each new dollar printed. It is fundamentally unfair for the US to get real wealth from billions of poor people around the world in exchange for giving them pieces of paper, and then to devalue those pieces of paper by printing more all the time. As other countries realize they are being ripped off because they are using and holding dollars they will reduce their exposure to dollars. When central banks do this they call it diversifying reserves. As this happens the value of the dollar will crash.
Regardless of whether you take such a cynical view toward the US Dollar and the Federal Reserve system, it is clear that gold is a simpler value system—with a much longer track record of success.
Gold has been valued in various human markets and societies for more than 5,000 years, and thousands of shops around the world exist where you can readily sell or buy pieces of gold. In fact, the global gold market is so large that between $70 to $80 billion of gold trade every day—and the entire gold market is worth more than $8 trillion.
Goldmoney already has more than one million users saving, spending, and storing in real gold. With features including a MasterCard you can use to spend anywhere MasterCard is accepted, and ATM cash withdrawal access, Goldmoney is making the world of gold ownership more convenient and modern than ever before.
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My objective is to share with you my views on gold, which in recent decades has become one of the world’s most misunderstood asset classes. This low level of knowledge about gold creates a wonderful opportunity and competitive edge to everyone who truly understands gold and money.
