What most people don't know about gold

In recent years, gold has been seen as a speculative investment. But it wasn't always that way. Doug Casey reveals the fundamental case for investing in gold.

Historically, gold has never been viewed as a speculation. It was simply money: cash in the most basic form. It was a medium of exchange and a store of value. People did not accumulate gold because it could make them wealthy, but because it was a convenient, liquid way to keep the wealth they had.

It's only very recently, since 1971 - when the U.S. government proved unable to keep the price at $35 - that gold has been viewed as a speculation. In those days gold was an ideal speculation, with minimal risk but a huge upside.

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