DUB, I think it's plain wrong to describe gold as "the risk-free asset" as Trace Mayer does.
There are plenty of risks with gold. There are the normal market risks of having to sell it for less than what you paid for it. There is the risk it will be stolen from you, either by a robber or a government, as happened in the USA in 1933. There is the risk that central banks will sell gold to cover some of their losses in other areas, depressing the price.
If someone knows of a truly risk-free asset, please let us know.
