Late-night ads are in a category all to themselves. An ad trying to get people to buy gold coins, however, got me thinking. Imagine if 6 or 7 years ago you converted all of your life's savings into gold. How much better off would you be today? If i knew then what i know now.
As a quick lesson for those of you not in the know (you can take the teacher out of the classroom...) all of our money is backed up with gold. Most of that gold is in the form of bars locked up at various super-secure locations across the country. To oversimplify, how our money weighs in in comparison to other country's currency is related to the value of those otherwise useless bills and coins in our wallets against what they represent in national holdings. A country can print as much money as it wants but without gold to back it up it is useless on the world market.
The value of the US dollar has been plummeting in the last few years. Had you exchanged, lets say, your 2001 savings in for gold, it would have held it's value much better than the savings you currently hold. How deranged is the current state of our country that late-night commercials are starting to make sense (well, with a little inference)? Sigh...
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