by Jan Skoyles, TheRealAsset.co.uk
Simon Popple of MoneyWeek reminds himself why gold is such an important asset. Unlike other commodities gold is rare and supply grows at a steady, slow rate.
Why is this important? Well Simon Popple believes that soon we will see the next fiat money collapse, headed up by the US Dollar thanks to debt and inflation. Thanks to the inability to destroy the value of gold, Popple argues that the yellow metal will be the currency that replaces the US dollar as the international reserve currency.
To many (perhaps those who are new to the world of gold) this may seem like a radical idea. However if you look at gold beyond its price, beyond COMEX and government regulations, it is already being used day-to-day as a monetary asset. Biggest of all the largest clearing house in the world accepts gold as collateral.
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