Gold Standard

Here's a funny fact: since 1965, if you owned stocks, bonds, or gold, your investment would be worth about the same today, 45 years later. This is the entire history of floating currencies, which began in 1971.

If you look more closely at gold, you discover that there is hardly any compelling investment thesis at all. In fact, it appears that gold is among the most useless things on the planet.

The future is always a matter of opinion, as is political competency, which is why it's a good idea to own a little gold.

Imagine a world in which Uncle Sam is the monopoly supplier of bananas, in the same way that he is now the monopoly supplier of money; eventually people will become anxious about future decisions of the banana board.