I came across this May 28, 2008 article by Gary North on LewRockwell.com, where he claims gold coins produced by U.S. and Canada aren’t money.
“This is what monetary policy is in the United States and Canada. Both nations produce gold coins. They are not really coins. They are not counted in the money supply. But they look like coins. People can buy them.“
That’s an interesting claim — considering they are legal tender! (as the U.S. and Canadian Mint state)
On July 19, I wrote about Gary North’s claim that 21 years is a “medium term” investment in order to justify gold’s embarrassing performance from 1980-2001.
[...] is a medium-term investment to justify gold’s embarrassing performance during that time, and claimed that gold coins produced by the U.S. and Canada aren’t money, despite being legal [...]
[...] I wrote about his claim that gold coins by the U.S. and Canada aren’t real money, despite being legal tender, and his claim that gold is an inflation hedge in the “medium term,” which he [...]
Gary North is a tool. Gold is one of the only that can be money as the origin of the word money is Latin moner which means mint in English (or something like that). What he should have said is “the monetary policy of the US and Canada is ridiculous and currency is not money”. As soon as there is a run on the bank that will become apparent.