billyjoeallen
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billyjoeallen
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November 12, 2015, 08:36:33 PM

To say that gold is a better investment than Ruppees is not an argument for gold. It's an argument against Ruppees.  Anything looks good compared to something worse.

When you have to store your wealth, and you live in a "developing" country with foreign exchange issues, capital controls, or even gold restrictions or taxes to prevent you from dumping your national currency in order to buy the X or Y hard asset, your options are limited.

This is the reality of billions of people around the world and it's an argument in favor of "sound money" compared to confetti* fiat. Naturally money will find its way towards gold, silver, btc.



* Even in the US and EU, our money is not even worth the metal it is printed on. 1c coins are zinc. In Europe it's even worse. 1c/2c/5c are all iron (steel).

Iron FFS Huh

And they plate it with a thin layer of copper to make it appear valuable.

I'm not arguing against sound money. I agree with you as long as it's the market that determines the standard and not the State. I'm arguing against small blocks and the flawed notion that transaction utility is not important.