jeremiah74

The Case for Dumping Dollars, Buying Gold

"MJJP, you are correct that gold is valuable only because someone says it is. But, if enough people in the world say (and think) that gold is valuable, then...it is valuable. It is called a market."

yes, but the thing is that people might change their mind on how valuable it is. so at the end of the day, gold isnt a safe store of value its just another bet like buying bonds or stocks.

there really is no safe way to store wealth, because wealth is really an abstract concept. if you want to store value you can pile up things like food and fuel, that you are likely to consume. this would be a safe store of your current wealth. but this can not be said of gold.


now the secret plan to create a global currency, sounds a lot like the James Bond film, Goldfinger. establishing a currency like this would have more costs than benefits, and I think will remain the domain of spy novels and films