Ask that to someone who cashed out gold down 65% nominal in 1999 after believing people like you in 1980, when inflation had been high and the dollar had been falling right up to the peak

Replies (2)

Owner_of_donky's avatar
Owner_of_donky 4 months ago
Ask someone who has chashed out Bitcoin down 75% nominal in 2022 after believing people like you in 2021...
1984's avatar
1984 4 months ago
Gold is used as the most stable reference point due to it's direct correlation with the energy and labour cost of mining and extraction it. Is demand high, more mining will happen. Is demand/price low mining is not feasible. Secondly gold has always been a valued commodity all around the world. So, believing printed paper by an obscure private entity, unlimited, is a more stable reference point than gold is stupidity.