“From the mid-14th century until now, you can draw a relative straight line in the purchasing power of gold, and every central banker in their heart knows that. Gold is universally recognized as a store of value. That’s important because it denotes price stability.”
While fiat currencies come and go, gold was the standard currency used for international trade for centuries. Despite price fluctuations of gold, its purchasing power has pretty much remained the same; and a currency is only as good as its ability to buy goods and services.
have you tried paying taxes in gold?
Well I don’t know about Ryan, but no, I haven’t tried that yet; nor have I with stocks, corporate bonds, REITs, or a signed, authentic, game-worn Michael Jordan rookie jersey. Fortunately there are marketplaces where you can liquidate any assets that have value for money. If those assets gain more value than the US dollar during the time you own them, you actually come out ahead, and can pay even more of your taxes.
How much does that cost?