Bullion Star proprietor Torgny Persson today demolishes the old disparagement about gold's value in emergencies -- that you can't eat it. In fact you can, Persson notes, even if it provides no nutritional value. But, Persson asks, what financial instrument is edible?
In emergencies, Persson notes, gold has advantages over other financial instruments. "Since gold is a universal money supported by a highly liquid global market, it will always be accepted everywhere at the going gold price," Persson writes. "Gold can easily be sold. Gold can easily be traded or even bartered with, especially in non-functioning economies where the local paper currency has collapsed or has become worthless. That gold coins are regularly issued to elite military personnel in areas of conflict attests to gold's critical benefits in times of monetary crisis and localized economic collapse." And of course unlike other financial instruments gold has no counterparty risk.
Persson's commentary is headlined "Eat Gold" and it's posted at Bullion Star here:
https://www.bullionstar.com/blogs/bullionstar/eat-gold/
