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People are not buying gold because they think it will become the basis of a new monetary system, they're buying it because it's one of the few assets that are s
by dageshi 15y ago
People are not buying gold because they think it will become the basis of a new monetary system, they're buying it because it's one of the few assets that are small, portable can be easily and discreetly sold and which rises in value during economic uncertainty. The goal is to hold an asset which will survive the devaluation of currency and is no one else's liability and it is doing just that, right now.
- roc 15y agoTrick is, of the people who are buying gold, almost no-one is buying physical gold. So its physical properties are irrelevant. It's almost entirely being bought either on speculation that it will continue to rise in price, or as a hedge against inflation. And for that purpose, they might as well be buying giant stone discs that lay beneath the ocean.