orca

Inflation, Deflation, Whatever: People Buy Gold in Money Crises

My reason for being long fysical gold is that it is the only portable and liquid fiat currency hedge. Top quality diamonds are fine too, 10 carat and up, however you can't break a 10-carat diamond in 100 pieces when bartering. Silver is too bulky for its worth. Moreover gold (in Europe, I don't know if true in the USA) is VAT exempt since supposedly there aren't many industrial uses (hence the VAT exempt) for it. I hope for a crash in gold so I can add to my position but I don't see it coming in this environment.