I have argued again and again that investors should hold some assets in precious metals as an alternative to cash. One of the functions of paper money is to be a store of value. But... with practically zero interest rates and cost of living increases of about 10 percent per annum... paper money at zero interest rates loses its purchasing power.
Related Authors: Karl Marx Ayn Rand Steven Wright Milton Friedman Alexis de Tocqueville Elbert Hubbard Adam Smith