That explanation is hollow. If gold just sits there, say in US dollars, you would be better off hiding your money in a mattress. I mean gold still must bear some sort of return.
Premiums at 50% right now in china?
I mean gold still must bear some sort of return.
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Gold is THE universal currency and has been for 5,000 years at least.. It doesn’t matter if it’s a Maple Leaf , an Eagle or a Kruggerand ,, your trading partner sees the intrinsic value... it will still hold value long after I’m dead and buried.
My first real GF survived pirates escaping VN because her family had saved some old gold coins and she was too young at the time to be sold into sex slavery...
She would have been thrown overboard if she has French Francs...