Eric Fry wrote for The Daily Reckoning yesterday. He was surmising and made this statement: Why gold is still better than faith based currencies
He said: Unfortunately, here in A.D. 2010, currencies are coming under suspicion. No one knows which currency is good or which is bad...or if any currency at all can be trusted. The global monetary system is creaking under the weight of excessive government debts. In such an environment, what asset is truly safe?If money itself is not trustworthy, what is? What asset evokes confidence? What national treasury, government agency, financial institution or pension system inspires complete trust?
I will add that a gold coin does. A sovereign gold coin evokes confidence. Safe haven gold has a much better track record than do faith based currencies.