Why gold is money and not a currency

[GoldNugget]

Here is an excellent article by Peter Schiff of goldyoucanfold.com which explains why gold is money and is not just another currency. The article was posted on safehaven.com and is Titled "Gold is not another currency"

Gold is not another currency by Peter Schiff

With gold prices rising against all of the world's fiat currencies, some have suggested that gold now trades as if it were an alternative currency, on par with the dollar, euro, and yen. However, this observation reveals a basic lack of understanding of the difference between money and currency. Since the confusion seems to be wide-spread, I thought it would be worthwhile to try and clarify the issue...

...In conclusion, there is money, which includes gold and silver, and money substitutes, which include legitimate currency, which is redeemable in actual money, and fiat currency, which is redeemable in nothing. Rather than trading as another currency, gold is finally reasserting its temporarily lost monetary status. Its rise against all of the world's fiats currencies does not represent a preference for one currency over another, but a preference for actually money over mere substitutes.

Read more at "Gold is not another currency"

[delkulara]

Gold is money, yellow!
like honey.
ANYTHING ELSE is phoney!
like balogna(baloney)