Thursday, September 3, 2009


Faint Praise From Goldline

I've been meaning to complain about this for awhile, but with gold flirting with $1000 now's a good time: Who were the ad wizards that came up with Goldline's catch phrase, "And it's never been worth zero!" ? Couldn't Purina say the same thing about cat food? Should I go long on cases of Fancy Feast?

Why not? Stockpiled cat food is a reasonable, if not terribly liquid, hedge against inflation.
And if the poop really hits the fan, you can eat it. (The cat food, not the poop.)
A few years ago I tried working out how an edible currency might work. I don't remember all the details but I eventually decided it would have to be a currency of bourbon, wine, scotch, i.e, some thing(s) edible and non-perishable which would appreciate in value over time. Although the end result would probably be a society where teetotalers held most of the wealth and the rest of us would literally drink our paychecks it'd still be better than fiat money, right?
Anon, you could make change with sardines rather well in a system like that.
Problem is, the government will probably find a way to levy a capital gains tax when you eat the cat food!
If the scenario portrayed in the movie "District 9" ever comes about, hedging with cat food could turn out to be very lucrative!
Anon, edible/consumable currencies have existed and continue to exist.

Historically, salt, barley, wheat and tobacco were currencies in older civilizations. In fact, as late as the early 1800's rice was the standard currency in Japan. Currently, packets of mackerel are currency in federal prison (due to a federal smoking ban that made illegal the original currency, cigarettes.)
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