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In Asian families with long histories, it's well known that gold lasts for generations. That alone is reason enough to hold wealth in Gold. They shape it as orn
by nine_zeros 6y ago
In Asian families with long histories, it's well known that gold lasts for generations. That alone is reason enough to hold wealth in Gold. They shape it as ornaments and pass it down generations. It's a store of wealth because other dynastic families will forever accept it as payment to pass it on to their own kids.
Parallel alternatives are currency, land and historical artefacts.
Currency is subject to manipulation (even fractional reserves is a form of manipulation), land can be seized by changing empires and wars and historical artefacts may lose their meaning.
So gold it is.
One could argue why it's not other metals but I suspect there's an element of glitter to it.
- imtringued 6y agoJust read the article, it gives a lot of reasons why the element gold is better than any other element. However, you're right about the motives of the holders of gold as wealth. Using an element to store wealth is easier than using an agreement with the local military to store your wealth.