Ask About Gold by Michael E. Ruge - HTML preview

PLEASE NOTE: This is an HTML preview only and some elements such as links or page numbers may be incorrect.
Download the book in PDF, ePub, Kindle for a complete version.

Fool's Gold

 

There is a common misconception regarding the worth of fool's gold as it contains similar physical properties of real gold. In appearance, they are hard to tell apart. However, the underlying value of the two substances differs greatly. Fool's Gold is a mineral pyrite that mimics the color, density, as well as form of gold. However, it is possible to tell the two apart from each other. To the trained eye, shine, residue, and hardness are indicators of whether it be true or false gold.

There is also a common misconception in regards to telling apart money from currency. Money holds true value and worthwhile currency holds none. It is difficult to tell the two terms apart unless you look at them closely.

One noticeable difference between the two is the fact that money is defined as something that has a maintained store of value and purchasing power for a long period of time. Currency does not meet this standard. Since the creation of the Federal Reserve Bank in 1913, currency has lost 95% of its purchasing power. Furthermore, the value of currency is constantly fluctuating and therefore causing the worldwide economic system to fluctuate as well.