Is Gold The Most Valuable Currency In The World?

Is Gold The Most Valuable Currency In The World?

Let’s figure out if there is any other valuable thing beside Gold that is preferred more for  storing wealth?

In my opinion, I don’t really think that stocks, bonds, real estate or any other thing  now a days  can be the best option to store a good amount of wealth,  compared to Gold.

People in China give more priority to Gold than in other country, they think Gold is a “safe haven” when there are  fears of ultimate inflation.

Seth Klarman Describes His Approach In Rare Harvard Interview

Seth KlarmanIn a rare interview with Harvard Business School that was published online earlier this month, (it has since been taken down) value investor Seth Klarman spoke at length about his investment process, philosophy and the changes value investors have had to overcome during the past decade. Klarman’s hedge fund, the Boston-based Baupost has one of Read More

Forbes have said something in detail on the same topic – read few lines of it below:

The price of gold is r oaring back from its latest temporary correction, sending the bears into  full withdrawal. If you sold your gold in December as it fell to $1525 an ounce, you’re probably feeling foolish at the incredible $210  rise to $1735– a 15% move in no time at all.

Gold, you see, is not a commodity like oil and copper and wheat. It is rather an alternative currency– one that  finds buyers when paper currencies like the Euro are being hugely increased in supply by the ECB to forestall a sovereign cum bank crisis in Europe. There’s $650 billion in European bank and sovereign debt coming die  before March 31, 2012 which can be sopped up by the $650 billion  gift from ECB to the banks at the bargain rate of 1%.  And more available from the European central bank– Europe’s very own Quantitative Easing program.

As the supply of gold cannot keep up with paper money(supply increases very little despite exploration),  and it can be bought without loss of any real interest income, it seems clear t hat the gold bull market is alive and well.  Central banks obviously are of  the mind that gold’s rise will make up for t he decline in paper money and the lack of income on central bank liquid investments.

Read more here:

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  1. Well gold is not different from any other type of money.
    I know it is a common concept; but what happens.

    IN times of crisis people flee into gold – often without actually obtaining the physical gold.and relying on gold certificates. How can people trust there is actual physical gold to cover all the certificates?

    Otherwise gold is a measurement of value. And as all other measurements of value liable to go illiquid.
    Gold prices are going up (providing employment in rural Alaska – splendid), but will the buyers be able to sell that gold later at purcase price?

    Gold is fine for nations to have as a reserve fund in case of war. But otherwise assigning any preferential place to gold? No.

    In China and India gold is popular as a reserve – and in many countries it substitutes deposits in banks. Gold price says more about mistrust in banks than anything else.

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