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In fairness, markets can operate quite well with almost nobody in them being able to argue why. Gold has remarkable staying power but it is rare to find gold pr
by roenxi 2y ago
In fairness, markets can operate quite well with almost nobody in them being able to argue why. Gold has remarkable staying power but it is rare to find gold proponents who can explain why convincingly. A lot of the arguments for where the value comes from are bunk. If I hear one more person explaining that jewellery matters I'll ... go peacefully about my day I suppose.
Still holds its value though, the economy does not care if people understand why the price signals are so.
- ggm 2y agoDoing much shopping with gold coins lately? Even big things. Bought a car with a bar?
- codethief 2y agoI would argue that, in the case of gold (as well as many fiat currencies) the value is tightly coupled to the trust people put into the asset, and the other way around. "Gold has always been valuable and quite stable, so it won't lose all of its value over night." (and similarly for USD, EUR, …)