Tom Bombadil

Is Gold As a Safe Haven Just a Myth?

There's no doubt that gold stinks as an investment since it has no return. For me, it only works as part of a policy portfolio where you rebalance into and out of it as the rest of the portfolio goes up and down. You can use other commodities or real estate but gold has historically been the purest inflation play out there. It takes up the slack when your bonds and stocks are dissolving away, then you sell it and put the money back into the productive investments which eventually get back on their feet.

The bit about "all fiat money societies collapse" would be more convincing if there were a society with convertible currency that has been going for thousands of years. Maybe societies that don't adopt fiat money collapse even sooner, before they become noteworthy at all? It's a specious argument at best in my opinion.