Bob Prechter: Gold is Still Money

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Have you ever traveled abroad and taken a look at the local currency and wondered how the citizens of that country could take seriously what looks like Monopoly money I have got news for you: You are using the same stuff. Monopoly money is the money over which some government has a monopoly. It is the currency of the realm only because the state makes it illegal to use any other type.

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The only sound monetary system is a voluntary one. The free market always chooses the best possible form, or forms, of money. To date, the markets choice throughout the centuries, wherever a free market for money has existed, has been and remains precious metal and currency redeemable in precious metal.

[CameronSed]

It is all well and good to despise fiat money, but it is hardly useful to sit in gold and silver as if no other opportunities exist. In contrast to the one-note approach, which has had an immense opportunity cost since 1980, competent market analysis can help you make many timely and profitable financial decisions in all markets, including gold and silver.