Isn gold just an obsolete form of money ?
The world’s central banks and private citizens certainly don’t think so. And our own Fort Knox contains the U.S. national gold holdings which form our monetary reserve. Although gold as money is not a part of our daily lives, every major nation holds gold as a fiscal insurance policy. Money in the form of paper currency and accounting entries comes and goes, but gold is a form of permanent national wealth.The 20th Century just past is littered with the debris of currencies which inflated out of existence and became obsolete, including those from Germany, France, Russia, Italy, Mexico, and many others. Paper monies often become obsolete – gold never has.
