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This quote is suggesting that gold has value as a store of wealth when traditional investments may not be worthwhile or reliable. It argues that gold functions similarly to how money is intended to work – as a stable store of value even during times of economic uncertainty or lack of good investment opportunities.
The quote implies that when governments print too much fiat currency, inflation can reduce the purchasing power of that money over time. However, gold maintains its value independently since it is a commodity that is scarce and has intrinsic value as a precious metal.
So according to the quote, gold serves as a type of “money” that retains purchasing power when other assets may not due to lack of stability in currency values or lack of trust in traditional investments.