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by nutjob2
186 days ago
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The prices of things vary due to speculation as well as demand and supply. Gold is an industrial metal which has to be mined, thus making supply uncertain and exposed to the whims of miners. Central bank issued currencies are managed by varying the supply according to economic conditions, which has given economies much better stability as a result. There's nothing special about gold except that some people think that it's a panacea. It's not, it's still an industrial metal. "Fiat currencies which are collapsing in value" has no basis in fact. It's just mindless ideology at best and no better than a conspiracy theory. |
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There is something very special about gold. It has the best monetary qualities of any physical substance. It is only bettered by bitcoin which essentially dematerialises gold - stripping away it's physical attributes that hinder it (portability, scarcity, verifiability, divisibility etc).