Rock [Gold] or Paper [Fiat]?.....................from Rico

What is Gold?

- Warren Buffett sees Gold as a pet rock.

- Gold owners [think: Central Banks] see it as a store of wealth.

 

Not exactly.

- Nixon fucked that all up back in 1971.

 

Central Banks can 'print' all the digital money they want to, allowing them to manipulate ALL asset prices...including Gold.

 

So, what then IS Gold today?

- Gold is an insurance policy, a hedge against risk, that trades based on the 'cost' of digital money (Treasury yields minus inflation-protected Treasury yields)...until that scam no longer works.