I love this quote. Using the suit illustration to demonstrate the purchasing power of gold is something that most gold traders and investors are familiar with, but when I came across it in this article: Former Lehman Brothers Trader: Unpredictable Government Actions Make It Smart to Hold Gold it felt more powerful.
In this Forbes piece by Shannara Johnson, former Lehman Brothers trader Jared Dillian explains why he believes in owning physical gold. The piece starts by asking, “What does a hot-shot Wall Street trader see in physical gold? And why would he be adamant about holding it?” Dillian answers that question effectively first by referencing the suit illustration above, then by stating:
“Dollars have depreciated over time; pretty much any fiat currency has. So when I look at gold, I don’t look at it like, it’s going to go up and I’m going to get rich. It’s actually not a trade—it’s the furthest thing from a trade. It’s a way to maintain your purchasing power over time.”
Do you have that purchasing power?