Why Civilized People Buy Gold and Silver

Mon, May 7, 2012 - 12:00am

I often feel that just making lists of things helps to combat the misinformation all of us confront from those trying to craft and abuse public opinion. Many are by now familiar with Charlie Munger (Warren Buffet’s sidekick) and his comment that gold is not for “civilized” people. I want to list the reasons gold (and silver) are, in fact, for civilized people. Although it is hard to paint with a broad brush, many of us feel that the current financial system, epitomized by Wall Street, doesn't quite cut it at times when it comes to civility.

First off, it is important to note that American Heritage Dictionary defines civilized as:

“1. Having a highly developed society and culture. 2. Showing evidence of moral and intellectual advancement; humane, ethical, and reasonable: terrorist acts that shocked the civilized world. 3. Marked by refinement in taste and manners; cultured; polished.”

Allow me to explain why I buy gold and silver, and why I aim to be civilized (even if, like many, I fall short at times)

  1. Civilized people do not terrorize people into bailing them out during a stock panic.
  2. Civilized people do not make up earnings so as to goose their stock price.
  3. Civilized people do not speak with a forked tongue.
  4. Civilized people do not abuse and destroy the lifetime savings of others.
  5. Civilized people believe in individual liberty.
  6. Civilized people believe in the value of humility.
  7. Civilized people understand that an important symbol of the basis of all morality in this world comes from the kind of money used in this world.
  8. Civilized people believe in being realistic.
  9. Civilized people value dissent.
  10. Civilized people are prudent, and diversify their assets into something besides what they are told to own by self-appointed experts on economic and financial affairs.

Civilized people, including Warren Buffet’s father, have long understood the need to own gold and silver, the only money which can truly stand the test of time.

About the Author

Lecturer
ryanjordan [at] sandiego [dot] edu ()
randomness