4 ms·
Cash has no utility either. At the end of the day, cash, gold, silver..are monetary instruments. To say a monetary instrument needs to have utility is a bit rid
by fma 10y ago
Cash has no utility either. At the end of the day, cash, gold, silver..are monetary instruments. To say a monetary instrument needs to have utility is a bit ridiculous. Do we want to go back to the days of carrying around bags of salt?
I don't know how many cubic feet $7 trillion of US dollar takes up...but if I have a cubic feet of $7 trillion anything I would take it, convert it and purchase whatever I want with it.
- kajecounterhack 10y agoI think encapsulated in the quote (and what the point was) is the idea that Gold isn't going to do much but sit there and retain its value, whereas Exxon and farmland are going to grow in value over time and produce useful things. Befitting an investor's quote. It's not saying gold has to have utility. Which it actually does fwiw as a commodity.
- fma 10y agoWith all investments there's no guarantee it will value over time or produce useful things...You can buy Theranos, a company once valued at $9 billion, and the next day it's worthless because you found out it's all smoke and mirrors.