Is a buy back a silly idea?, page-35

Not making a joke at all.

Seriously, what is gold, other than a lump of shiny, and mostly useless, metal?

I’m well aware of the historical significance of gold as a store of value, but that’s simply because it is relatively rare, and relatively convenient to melt and form into coins, small ingots etc. and never forget the beauty and lustre of a shiny gold bar or coin that says ‘I’m worth having’.

But gold only has value because we mostly agree it has value...some days it’s a bit more valuable, other days a bit less valuable.

PS. I own three gold producers. Although I find the whole value of a shiny lump of useless metal thing quite ridiculous, that fact that the world places a value on this shiny lump of metal makes my thoughts on the subject quite irrelevant. I’m happy enough knowing there are enough people who get their rocks off on this stuff for me to play along.