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18/12/19
18:09
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Originally posted by Bullspike:
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Yep I was trying to highlight the same point, that gold has pretty much constant intrinsic value. Out of all material things humans have ascribed the greatest intrinsic value to gold, therefore any argument about gold being a 'relic' or not having any fundamental value is so ridiculous. Re local currency, the USD has a big effect also, being the economic trade powerhouse and the world reserve currency. Gold price is USD, and affected by USD. Other currencies are affected by USD making them highly leveraged to gold. As USD weakens it prices foreign currencies out of gold more and more. Just another way fiat destroys capital and upsets capital allocation.
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"any argument about gold being a 'relic' " There is no argument. It's just Skol yelling into an abyss. He is paid to challenge every and any pro-Gold statement to infuse doubt into the debate at every opportunity. Tell him that Gold is rare and watch him go mental.