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Re: Johnnycash2013 post# 273

Friday, 11/06/2015 6:51:41 AM

Friday, November 06, 2015 6:51:41 AM

Post# of 19406
“Gresham’s law, observation in economics that “bad money drives out good.” More exactly, if coins containing metal of different value have the same value as legal tender, the coins composed of the cheaper metal will be used for payment, while those made of more expensive metal will be hoarded or exported and thus tend to disappear from circulation. Sir Thomas Gresham, financial agent of Queen Elizabeth I, was not the first to recognize this monetary principle, but his elucidation of it in 1558 prompted the economist H.D. Macleod to suggest the term Gresham’s law in the 19th century.” (Encyclopedia Britannica)

Historically every currency to date has died and the USD will not be an exception. You hoard prices of paper thinking your rich but economic law says differently. You don't have to believe me just look at three thousand years of monetary history. Folks have learned (sometimes the hard way) that gold is finite and is the accounting measure for all currencies not to mention a place to protect wealth from back end inflation due to bad monetary policy

Do an image search on "USD yield purchasing power" it explains everything. GLTY chasing worthless pieces of paper you may just end up with the most
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