As the perceived value of paper currencies erodes, people increasingly want the real deal.
And in an emergency gold is more likely to hold its value than paper money.
And that crisis in the value of paper money makes physical possession of gold a no brainer.
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If gold was turned into money it would end up being money as detached from real value as paper.
In the absence of convertibility into specie, there must be a monetary rule to anchor the nominal value of paper currency.
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Why the Value of Paper Money Declines as the Quantity Rises by Bill Bonner originally appeared in the Daily Reckoning.
Just ask anyone who has lived through a war and watched the value of paper money evaporate overnight as the cost of bread kept rising.
An inverse relationship between the issuance of paper by the state and the hard-currency value of that paper has been recognized for centuries, and it can be observed in U.S. history.
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All they can do is sit and watch the paper value of their holdings fall.
We have mistaken growth in the value of financial paper for real economic growth.
The result is to keep the federal government and the Federal Reserve from being held accountable for policies that drive down the value of the paper dollar.
But, there has not been one, not even one 10-year period of 4% growth since the Federal Reserve took over responsibility for the value of a paper dollar.
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Under the management of the Federal Reserve, the value of our paper dollar has fallen 80% in the past 40 years and fluctuates daily providing little trust in what it will be worth a year from now.
Calling the coin the "golden dollar" has led some folks to think it has more value than the corresponding paper.
Yet regulators and lawsuit-fearful auditors pressed banks and other financial firms to relentlessly knock down the book value of this subprime paper, even in cases where these obligations were being serviced in the payment of principal and interest.
Little green pieces of paper have little value to foreign companies.
Value players sopped up this paper in late September, early October.
Yet loans that are not actively traded account for some 60% of British banks' balance sheets, for instance, according to a Bank of England paper on fair value.
In October, the government put a ceiling on the total value of bonds and commercial paper which the top five chaebol could issue, thus cutting off Daewoo's access to capital and eventually precipitating its near-bankruptcy.
This is part of a continuing trend in which central banks have increased their gold reserves as a way of hedging or protecting against the fall in value of their holdings of paper money like the dollar and the euro.
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Money needs psychological acceptance: The population must unblinkingly accept the fact that a plastic card or flimsy paper is of great value.
The US government then attempted to pay this last bond at a fraction of the face value and not in gold but paper.
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Then will come the heavy lifting of jawboning up the value of all that stinky mortgage paper still held by Fannie and Freddie.
Since 1971, paper currencies have lost value at a breakneck speed.
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The otherwise worthless piece of paper in your wallet conveys value because of government decree.
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Paper currencies have no intrinsic value and need the appearance of worth to inspire public confidence.
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The paper tells us that the value added of sewage treatment as measured at market prices is less than the costs imposed by pollution.
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It knew that Anthony had value that would increase the likelihood that the paper would sell.
Those who doubt the continued worth of paper money as a store of value point to two things.
Anyone owning Windsor I or any value fund with major holdings in metals, paper, petrochemicals and oil should pray for a strong commodities market.
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