Gold, since ancient times, has served four functions

Zerohedge reports:

Gold, since ancient times, has served four functions. The first is for jewelry and this is a subject for lunch at the Four Seasons. This is not where we are dining today.

The three other functions of gold are a replacement for a currency, an asset that rises in value in times of inflation and an asset that becomes more valuable when Fear is hard upon the market place. The substitution for a monetary system is a matter of a loss of faith. Inflation is what each and every government on Earth promulgates as long as there is not too much of it. Fear is either brought upon us by an event or when the entire fiscal system begins to break down.