In this series we take an article or book and explain a thought arising from “The Good Read”. This month, Anthony Wilson looks at “THE NEW CASE FOR GOLD” by James Rickards.  Wilson writes: “Jim Rickards is always commenting on Gold and the Investment industry on You Tube, and he invariably is right in the long run. He is a lawyer, Investment Banker and Media Commentator.”

​

Gold has always been regarded as a reliable store of value at times when inflation is a fear. Many people believe that the international financial system is inherently unstable and gold is something more reliable than fiat currencies (being national currencies without any backing like gold or silver). A fiat currency is valued on the back of the faith and trust in the issuing government. In other words, fiat currencies have no inherent value. Against this, commentators believe that gold could become the backbone of the international currency system.