Rantings and tirades of a frustrated economist.
Seriously, is gold really all that great? The paleolibertarians and "the apocalypse is coming and America might collapse tomorrow" crowds seem obsessed with it.
Oh, the apocolypse is coming, it's just that it's America's apocolypse. There will be plenty of good, stable austerity-rich countries where the currencies will not tank.Gold will increase in dollar terms, not because gold is rising, but because the dollar is tanking. So if you plan on staying in the US whilst the baby boomers vampire it dry, gold isn't the worst hedge. But why not have something that goes beyond intrinsic value and buy some Yuan or Kiwi or something
Though gold is a barbaric relic, it has been traditional money over thousands years due to its indestructable nature (diamond can be destroyed, other metals can rust). Human affinity to gold seems natural so gold is always valuable for no real reason. To be honest, gold is least useful metal. We just dig it out of ground and then bury it into ground again and put some quards around this buried metal. Vaults.
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