The assessment I came to was that gold is a store of wealth, not a currency or investment. It's a way of preserving, not creating wealth. It's what could be passed on to your offspring along with land that holds its value, more or less, over generations.
It damn sure isn't the FRN. If you held on to one of those from 1920ish, you'd have about maybe 3-4% of its worth in terms of buying power (of staples like eggs, bread etc)
Money and currency are for spending to get things of actual value, whatever those things may be.
There are apocryphal stories about Jews in WW2 Germany who had all their wealth in gold (as was common back then) who used the malleability of gold to flatten it out in very thin sheets then make thread from that, then sewed the threads into their clothing so that their wealth wouldn't be confiscated when they were fleeing the Nazis. I don't have any citations, though.
The assessment I came to was that gold is a store of wealth, not a currency or investment. It's a way of preserving, not creating wealth. It's what could be passed on to your offspring along with land that holds its value, more or less, over generations.
It damn sure isn't the FRN. If you held on to one of those from 1920ish, you'd have about maybe 3-4% of its worth in terms of buying power (of staples like eggs, bread etc)
Money and currency are for spending to get things of actual value, whatever those things may be.
There are apocryphal stories about Jews in WW2 Germany who had all their wealth in gold (as was common back then) who used the malleability of gold to flatten it out in very thin sheets then make thread from that, then sewed the threads into their clothing so that their wealth wouldn't be confiscated when they were fleeing the Nazis. I don't have any citations, though.
Cranky old man perspective: https://grandfather-economic-report.com/inflation.htm