The big argument against owning gold is that it doesn’t pay interest like normal money. I see it over and over again from bank friendly media who support the fiat currency status quo.
However money also must perform the function of preserving value over the long term for the holder, as well as paying interest. All of you know that inflation is eating into the value of your bank account and your currency is slowly losing value before your eyes. Fiat currencies do not perform well as a store of value.
Check out the following chart and have a look at how your currency has performed against gold in the last decade to see if the argument that not paying interest is a valid reason not to invest in gold.
God bless
Kevin
| Fiat Currency vs 1 oz Gold | 1-Jan-2000 | 1-Jan-14 | % Change | ||
| Emirati Dirham | 1,057.25 | 4,427.88 | 319% | ||
| Albanian Lek | 37,941.12 | 122,671.84 | 223% | ||
| Dutch Guilder | 480.96 | 2,136.96 | 344% | ||
| Australian Dollar | 440.23 | 1,352.63 | 207% | ||
| Barbadian or Bajan Dollar | 570.24 | 2,411.24 | 323% | ||
| Bangladeshi Taka | 14,567.04 | 93,556.11 | 542% | ||
| Bahraini Dinar | 104.26 | 454.52 | 336% | ||
| Burundian Franc | 175,936.32 | 1,844,598.60 | 948% | ||
| Bermudian Dollar | 271.30 | 1,205.62 | 344% | ||
| Bruneian Dollar | 477.79 | 1,522.45 | 219% | ||
| Bolivian Boliviano | 1,704.96 | 8,270.55 | 385% | ||
| Brazilian Real | 535.68 | 2,847.49 | 432% | ||
| Bahamian Dollar | 288.00 | 1,205.62 | 319% | ||
| Botswana Pula | 1,324.80 | 10,511.07 | 693% | ||
| Belizean Dollar | 573.12 | 2,399.18 | 319% | ||
| Canadian Dollar | 416.42 | 1,280.65 | 208% | ||
| Congolese Franc | 1,224.86 | 1,086,263.62 | 88584% | ||
| Swiss Franc | 459.07 | 1,076.55 | 135% | ||
| Fiat Currency vs 1 oz Gold | 1-Jan-2000 | 1-Jan-14 | % Change | ||
| Chilean Peso | 152,438.40 | 633,336.31 | 315% | ||
| Chinese Yuan Renminbi | 2,384.50 | 7,296.41 | 206% | ||
| Colombian Peso | 515,520.00 | 2,313,584.78 | 349% | ||
| Costa Rican Colon | 84,833.28 | 596,793.97 | 603% | ||
| Cuban Peso | 6,048.00 | 31,948.93 | 428% | ||
| Cape Verdean Escudo | 30,269.66 | 95,063.14 | 214% | ||
| Czech Koruna | 10,308.96 | 23,979.54 | 133% | ||
| Djiboutian Franc | 49,608.00 | 212,128.84 | 328% | ||
| Danish Krone | 2,126.02 | 6,543.76 | 208% | ||
| Dominican Peso | 4,556.16 | 51,058.01 | 1021% | ||
| Algerian Dinar | 19,257.12 | 94,146.86 | 389% | ||
| Egyptian Pound | 979.72 | 8,377.25 | 755% | ||
| Ethiopian Birr | 2,296.51 | 22,982.13 | 901% | ||
| Euro | 286.48 | 877.27 | 206% | ||
| Fijian Dollar | 576.00 | 2,288.14 | 297% | ||
| British Pound | 178.25 | 727.98 | 308% | ||
| Gibraltar Pound | 178.36 | 727.98 | 308% | ||
| Gambian Dalasi | 3,217.82 | 45,331.31 | 1309% | ||
| Guinean Franc | 389,836.80 | 8,171,692.36 | 1996% | ||
| Guatemalan Quetzal | 2,183.04 | 9,453.27 | 333% | ||
| Fiat Currency vs 1 oz Gold | 1-Jan-2000 | 1-Jan-14 | % Change | ||
| Guyanese Dollar | 51,724.80 | 244,692.64 | 373% | ||
| Hong Kong Dollar | 2,238.91 | 9,348.46 | 318% | ||
| Honduran Lempira | 4,184.64 | 24,413.81 | 483% | ||
| Croatian Kuna | 2,188.63 | 6,680.34 | 205% | ||
| Haitian Gourde | 5,028.48 | 52,637.37 | 947% | ||
| Hungarian Forint | 72,763.20 | 260,668.31 | 258% | ||
| Indonesian Rupiah | 2,030,400.00 | 14,660,942.01 | 622% | ||
| Israeli Shekel | 1,195.49 | 4,182.30 | 250% | ||
| Indian Rupee | 12,510.72 | 74,608.38 | 496% | ||
| Iranian Rial | 501,480.00 | 29,868,029.88 | 5856% | ||
| Icelandic Krona | 20,805.12 | 138,296.67 | 565% | ||
| Jamaican Dollar | 11,865.60 | 127,373.75 | 973% | ||
| Jordanian Dinar | 203.90 | 852.37 | 318% | ||
| Japanese Yen | 29,416.32 | 126,936.72 | 332% | ||
| Kenyan Shilling | 20,908.80 | 103,924.44 | 397% | ||
| Comoran Franc | 139,115.52 | 431,587.34 | 210% | ||
| South Korean Won | 326,102.40 | 1,272,652.47 | 290% | ||
| Kuwaiti Dinar | 87.55 | 339.98 | 288% | ||
| Caymanian Dollar | 361.36 | 988.64 | 174% | ||
| Lao or Laotian Kip | 2,462,400.00 | 9,644,960.00 | 292% | ||
| Fiat Currency vs 1 oz Gold | 1-Jan-2000 | 1-Jan-14 | % Change | ||
| Lebanese Pound | 432,288.00 | 1,808,430.00 | 318% | ||
| Sri Lankan Rupee | 20,563.20 | 157,466.03 | 666% | ||
| Liberian Dollar | 288.00 | 97,594.94 | 33787% | ||
| Basotho Loti | 1,771.20 | 12,622.81 | 613% | ||
| Lithuanian Litas | 1,146.24 | 3,029.03 | 164% | ||
| Latvian Lat | 168.28 | 614.87 | 265% | ||
| Moroccan Dirham | 2,896.42 | 9,835.57 | 240% | ||
| Burmese Kyat | 1,800.49 | 1,186,330.08 | 65789% | ||
| Mongolian Tughrik | 302,227.20 | 1,977,216.80 | 554% | ||
| Macau Pataca | 2,293.34 | 9,628.92 | 320% | ||
| Mauritanian Ouguiya | 62,588.16 | 347,218.56 | 455% | ||
| Mauritian Rupee | 7,277.76 | 36,349.44 | 399% | ||
| Maldivian Rufiyaa | 3,121.92 | 18,361.59 | 488% | ||
| Malawian Kwacha | 13,305.60 | 508,289.40 | 3720% | ||
| Malaysian Ringgit | 1,094.11 | 3,952.63 | 261% | ||
| Nigerian Naira | 28,627.20 | 192,778.63 | 573% | ||
| Nicaraguan Cordoba | 3,490.56 | 30,170.64 | 764% | ||
| Norwegian Krone | 2,306.30 | 7,320.57 | 217% | ||
| Nepalese Rupee | 19,903.68 | 119,718.07 | 501% | ||
| New Zealand Dollar | 551.20 | 1,466.30 | 166% | ||
| Fiat Currency vs 1 oz Gold | 1-Jan-2000 | 1-Jan-14 | % Change | ||
| Omani Rial | 110.79 | 463.92 | 319% | ||
| Panamanian Balboa | 288.00 | 1,205.62 | 319% | ||
| Peruvian Nuevo Sol | 1,010.02 | 3,369.11 | 234% | ||
| Papua New Guinean Kina | 759.89 | 3,021.59 | 298% | ||
| Philippine Peso | 11,586.24 | 53,529.53 | 362% | ||
| Pakistani Rupee | 14,918.40 | 126,951.79 | 751% | ||
| Paraguayan Guarani | 944,216.64 | 5,527,767.70 | 485% | ||
| Qatari Riyal | 1,047.74 | 4,389.78 | 319% | ||
| Rwandan Franc | 96,301.44 | 811,382.26 | 743% | ||
| Saudi Arabian Riyal | 1,080.00 | 4,521.62 | 319% | ||
| Solomon Islander Dollar | 1,432.80 | 8,673.54 | 505% | ||
| Seychellois Rupee | 1,545.12 | 14,396.31 | 832% | ||
| Swedish Krona | 2,444.54 | 7,762.25 | 218% | ||
| Singapore Dollar | 479.29 | 1,522.45 | 218% | ||
| Saint Helenian Pound | 178.36 | 727.98 | 308% | ||
| Sierra Leonean Leone | 545,322.24 | 5,169,698.56 | 848% | ||
| Somali Shilling | 732,205.44 | 1,469,650.78 | 101% | ||
| Sao Tomean Dobra | 664,427.52 | 21,411,811.20 | 3123% | ||
| Salvadoran Colon | 2,505.60 | 10,549.18 | 321% | ||
| Syrian Pound | 12,322.08 | 136,174.24 | 1005% | ||
| Fiat Currency vs 1 oz Gold | 1-Jan-2000 | 1-Jan-14 | % Change | ||
| Swazi Lilangeni | 1,771.20 | 12,622.81 | 613% | ||
| Thai Baht | 10,800.00 | 39,411.72 | 265% | ||
| Tunisian Dinar | 358.93 | 1,981.44 | 452% | ||
| Tongan Pa’anga | 448.10 | 2,245.94 | 401% | ||
| Trinidadian Dollar | 1,778.89 | 7,691.86 | 332% | ||
| Taiwan New Dollar | 9,039.46 | 36,028.15 | 299% | ||
| Tanzanian Shilling | 228,096.00 | 1,907,290.84 | 736% | ||
| Ukrainian Hryvna | 1,501.78 | 9,922.25 | 561% | ||
| Ugandan Shilling | 426,974.40 | 3,038,162.40 | 612% | ||
| US Dollar | 288.00 | 1,205.62 | 319% | ||
| Uruguayan Peso | 3,329.28 | 25,438.58 | 664% | ||
| Vietnamese Dong | 4,015,296.00 | 25,408,441.50 | 533% | ||
| Ni-Vanuatu Vatu | 36,777.60 | 114,955.87 | 213% | ||
| Samoan Tala | 890.21 | 2,831.42 | 218% | ||
| Central African CFA Franc BEAC | 187,358.40 | 575,449.78 | 207% | ||
| Silver Ounce | 53.43 | 61.92 | 16% | ||
| East Caribbean Dollar | 771.84 | 3,255.17 | 322% | ||
| IMF Special Drawing Rights | 209.45 | 782.51 | 274% | ||
| CFP Franc | 33,744.96 | 104,685.86 | 210% | ||
| Yemeni Rial | 45,702.72 | 258,967.18 | 467% | ||
| South African Rand | 1,771.34 | 12,622.81 | 613% | ||
| Zimbabwean Dollar | 10,725.12 | 436,313.88 | 3968% |