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Pittsburg, Kansas | Yes, better to work things out. But in world history have things always been "worked out" to the satisfaction of all?
The farm I live on was purchased in 1870 with $20 per acre. I do not know if they used Double Eagles (one ounce of gold) or a treasury issued $20 bills for the purchase. But it could have been either. One was equal in purchasing power to the other.
Today It would take slightly more than an ounce of gold to buy the farmland portion of a farm like this. Maybe even close to two ounces of gold. But it would take at least one hundred of more $20 Federal Reserve Notes per acre. Say 90 to 95% devaluation of the paper currency in relation to the gold money?
So had my Great Grandfather decided that his yet unborn great grandson should receive a gift from him, and put some money in an old cigar box for me to find some day, which form would I rather him have left me? Twenty dollar Double Eagle gold pieces, or $20 bills? I would have preferred him leave me the gold.
I myself believe the gold will hold value better than the paper over time. History is on my side.
John
Edited by John Burns 2/10/2016 07:44
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Is it to late to buy gold?
