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Buy Gold Now - How and why to buy gold

Buy Gold Now: Why should you buy gold? How do you buy gold? Investment expert Shayne McGuire explains how to profit from this precious metal and how buying gold can protect you from financial risk. Read more about Buy Gold Now >

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Part 1 - The Journey to a Stable Monetary System

A most important truth about money now emerges from our discussion: money is a commodity. Learning this simple lesson is one of the world’s most important tasks. So often have people talked about money as something much more or less than this. Money is not an abstract unit of account, divorceable from a concrete good; it is not a useless token only good for exchanging; it is not a “claim on society”; it is not a guarantee of a fixed price level. It is simply a commodity. It differs from other commodities in being demanded mainly as a medium of exchange. But aside from this, it is a commodity.” Rothbard, What Has Government Done To Our Money?

Gold & Silver are “Money”

The money commodity serves best when it is marketable, divisible into small units without loss of value, is durable over long periods of time and is transportable over large distances. Throughout the ages, by trial and error and in competition with all other commodities, one or two commodities began to shine through as the preferred general media of exchange – gold and silver.

The emergence of gold and silver as media of exchange removed the problems of “indivisibility” and the “lack of coincidence of wants” which plagued the early society. A carpenter could now exchange his plough for a number of ounces of gold, and use that gold to buy eggs, bread, a suit, whatever he desired and in any location.

Also, as exchanges were made in gold or silver money, members of society could compare the market worth of each good or service to every other good or service. If an egg exchanged for one ounce of gold, and a plough exchanged for sixty ounces of gold, then everyone could see that one plough was “worth” sixty eggs sets on the market. “These exchange-ratios are prices, and the money-commodity serves as a common denominator for all prices.” Silver, being historically more abundant than gold is useful for small exchanges, while gold is more useful for larger transactions.

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