You are really fixated on the period 1980 to 2000 and i repeat that the writer acknowledges this subject to finding out what gold really lies in Fort Knox.
Let us agree that the choice of period, the currency you are dealing in, as well as your "superannuation" profile will dtermine the outcome. There will always be winners and losers in ALL asset classes depending on the above factors amongst others.
No need for use of the word fool by either of us. Adds nothing to the exchange. Tyre marks usually come off in the shower. Have a good week anyway.