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by trogdor 569 days ago
> Many people all over the world would buy gold even if they could never resell it.

Why do you believe that?

1 comments

Ever been to Vietnam? Literally anywhere you travel in the country, there are shops selling gold.

Women store it in their teeth as a sign of strength, wealth, marriage, class, and a way to protect it. Generally not 100% gold, as that would be expensive, but it is some % of gold, and satisfies the belief. [0]

The interesting thing for me is that as the price of gold is driven up by wealthy countries, it increases the value for poor people that save in gold. The same thing is happening in bitcoin/crypto today.

[0] http://vietnam-phototours.com/blog/the-golden-teeth-of-the-e...