Gold as Money: Quality Never Goes Out of Style

gold is quality

Here is a snippet of an excellent piece by TraderStef at

I could not agree with her more, whether it is about the psychology involved in bubbles, the age-old reliability of gold, or the inferiority of digital cameras.



FOMO is nothing new.  From the tulip mania to Charles Ponzi, the Dotcom bubble to a derivatives-induced Great Recession, or from HFT nanosecond executions to the everything bubble and crypto mania, the song remains the same.  Human nature, as destructive as it can be at times, somehow survives and is lucky enough to exit the other end just peachy and better prepared to take on the next challenge.  At least until a bullheaded herd forgets history and repeats it. That is the secret: how to make enough mistakes to learn, but not so many as to destroy foundations and hope, burn down bridges, or shatter a mind’s engine of ingenuity.

The following outtake is just a small sample from an article that was just released.  It’s a must-read for all who study the ever-changing flow of capital and have been forced to face a more contemporary debate about what money is.  The article is overflowing with a truth that will stand the test of time.

A Gold Guys View of Crypto, Bitcoin, and Blockchain… “Crypto-currency, as a bubble, is serving an incredibly rare and important purpose. For the first time in over a hundred years, there is now a discussion going on with average people about what money really is, and what we want it to be. It is causing people to examine our financial system in ways that people normally never would… Crypto’s ascendancy will hopefully serve as a wake up call. Perhaps, there is room in the future for a global decentralized system that is owned by the people, where transactions transit the globe at the speed of light, unshackled from the entrenched financial edifice, where gold too plays a role as an indestructible hedge for storing wealth. This may be the opportunity to bring awareness and discourse to what our money is, and what it is to become.” – Alex Stanczyk via Medium, Dec. 2017

My point?  When it comes to money, it is the same old song, too, in my humble opinion.  There’s a reason gold is still money after thousands of years, and it’s not because a banker in the 20th century said everything else is credit.  I will leave this article and hand it over to some Jesse Lauriston Livermore wisdom, one of the greatest traders who ever lived.  Heck, you can even read a short book about him for free.  It may change the way you look at money or the basics of making it in the financial casino we still find ourselves in today.  If anything, you will learn something you may not have considered before.

She adds some quotes by Jesse Livermore to the end of the article. I always found this one to be the truest thing I’ve ever read about trading. It also applies to politics:

All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis…

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