Me when I post misinformation online: 😈
This isn’t actually true. In the US, housing has outpaced the value of gold.
In 2023, you would need 254.7 ounces of gold to buy a house, since $495,100 avg home / $1,943 price of gold = 254.7
In 1920, you would need 164.1 ounces of gold to buy a house, since $3,395 avg home / $20.67 price of gold = 164.1.
Fuck, even the gold isn’t safe.
Gold isn’t terribly useful as a metal. Sure it’s valuable but mostly because people see it as valuable and perceptions can change.
Everyone needs a place to live and on top of that land can be used for making money even if land itself isn’t as lucrative.
Ignores that common folk can neither buy at spot nor sell at spot.
Gold has no intrinsic value to me I wonder if as the boomers start to die off if it will start losing some form of value
Well, it has value to people who make electronics, and that industry is still growing. So, not likely.
It has some intrinsic value because it’s a metal with a variety of applications. It just doesn’t have nearly enough intrinsic value to justify its price.
For example, plating memory contacts and latinum
Rule of Acquisition number 102: Nature decays, but latinum lasts forever
This post feels like it’s sponsored by the World Gold Council to encourage people to buy gold.
Just ignore that general index funds have higher ROI.
And you don’t need armed guards to keep index funds.
