Gold is not a currency

By evan on Feb 11, 2016

The latest bit of derpĀ is that Canada is selling off half our gold reserves.

So what? Its a commodity, not a currency. It holds its value, but certainly doesn’t appreciate.

I have to agree with the feds on this one.

What I’m finding really amusing is the comments online

Trudeau is bankrupting our country

Trudeau sold off half our gold!

And so on. To be fair, it was the minister of finance, but people are too busy being outraged…

Here’s where it gets funny:

image

Canada’s gold holdings by year. Notice the giant dip in the 80’s and early 90’s, and remember who was prime minister?

Mulroney, and Campbell. Both conservatives. Sold 800x as much gold as the liberals just did.

In short, people are ignorant.

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