Nope you're wrong Gold is a Currency just like the US Dollar or Euro matter of fact its been the most enduring currency that all other currencies have been measured against since the beginning of recorded history.As of late as the 1890s in the US over 75% of all transactions were in Gold.The Federal Reserve Act of 1913 gave us here in the US our present form of paper money.Paper money has no value other than the economic health of the enity thats produces it.With 17 Trillion in direct outstanding debt and up to 100 trillion in liabiliites like Social Security,Medicare,and the like facing the US Gov't in the future with no hope of ever being able to pay except for one thing being able to print (digitize) more Dollars which the Fed is feeding into the system at the rate of 86 Billion every month the value of the Dollar is dropping and overall compared to Gold has droppped in value.If you held Gold and paper money with equal value back in 07 you now today would be able to buy about 20% less with your paper money when buying things like fuel,groceries,tractor parts etc but if you held Gold those things would be cheaper now than in 07 because Gold is worth 2X as many US Dollars as it was in 07.If you think the US Gov't is on solid financial footing and has everthing under control then stay in US Dollars but if you think Gov't spending is out of control with no hope of meeting its financial obligations over the long term then you want to get out of US Dollars and Gold is the long term thing of enduring value thats has outlasted all Gov'ts and all paper currencies and will continue to do so in the future.
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Today's Featured Article - Antique Tractors a Passing Fad? - by Tractor Talk Forum Participants. A Talk of the Town article - Do you see antique tractors going out like a fad? Value has come down this winter. An example is the Ford Model A and T cars that went through this in years ago, along with the hit & miss engine. Will the younger generation move on to something else? Will it be harder to sell them and what models will be affected? Could we see the value crash on our rusty relics?
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