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Why Gold and Bitcoin Make Lousy Money

A desirable property of a monetary instrument is that it holds its value over short periods of time. Most assets do not have this property: their purchasing power fluctuates greatly at very high frequency. Imagine having gone to work for gold a few weeks ago, only to see the purchasing power of your wages drop [...] View the full post at: Why Gold and Bitcoin Make Lousy Money Related posts: Gold Panic Redux All that Glitters is Not Gold Short-Term Gold
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