Friday, July 27, 2012

The Facts about Gold

Business Insider has recently completed a report on gold. The report is very weak on theory and fails to point out the key advantage of gold as money over fiat currency, namely that the government can't print gold at will the way it can paper money.

Nevertheless, the report does provide an interesting series of facts about gold.

The Truth About Gold


  1. I love it when someone points out that gold has no intrinsic value or use, at which point I ask them if they would rather have an ounce of gold or a random piece of paper that has a number written on it.

  2. Nice to see Bernanke, Keynes, Buffett, and Roubini quoted, sounding nonsensical and misinformed. No section on gold performance related to the decreasing purchasing power of the dollar? Interesting. I guess that wouldn't be noteworthy - nor helpful to potential investors assessing the value of gold as an investment. The fact that they include quotes professing that gold has no intrinsic value kills any credibility they attempt to gain through charts and graphs.

  3. Nothing has any intrinsic value... all value is subjective. This said, the notion that gold has value is so firmly embedded in all human cultures that it is something we could rely on even under the direst of circumstances.