GOLD VS PAPER-BASED FINANCIAL SYSTEM
Comparison of once equally measured units of gold and paper money, where gold is a useless hunk of metal, but now we see that paper money is even more useless.
Warren Buffett once famously chided that all the gold in the world would form a cube of 67 feet (20 meters)on each side.
All the GOLD IN THE WORLD WOULD BE AN UNPRODUCTIVE.
In doing so, he was attempting to argue that there was no point in owning gold since all the gold in the world would be an unproductive, useless hunk of metal.
What’s ironic (and completely lost on the venerable Mr. Buffett) is that you could make the same argument about the paper-based financial system.
t’s estimate;d that the derivatives market
If you were to somehow accumulate and stack up $1 quadrillion,the pile would be thousands of feet high and hundreds of yards long… much bigger than the cube of gold.
It’s a similar story with government debt, which exceeds $56 trillion worldwide. Now, it may be a cute thought experiment to blast gold as a useless hunk of metal.
But the reality is that gold will never require :
* A Taxpayer-funded
* Won’t Crash The Financial System
* Crash The Financial
On the balance, at least as a means of preserving
assets over the long-run, ‘useless’
certainly beats ‘destructive’.
Narrated From Words Of Simon Black
Produced By Video Chef
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Klemen ” the NIel Patle of VIdeo”, is a CEO and co-founder of Video Chef. Besides his passion for video trends, internet marketing, and everything related to video, he is a break-dancer wannabe. Klemen loves music, traveling, and meeting people with various talents. As he is an idealist, he is changing the world, also with Video Chef`s offer of providing one video for free – for a cause you care about.