Having read about the London gold fix recently i wonder why is gold (or anything for that matter) a safe place to put your faith in.
When a few bankers decide on the price twice daily (I call this manipulation) and the free markets (or me and you) have no say whatsoever whay are we so invested in it?
Please offer some input
Diversity is the key. Our current currency and economic conditions are a giant Ponzi scheme that requires "buy in" to continue. There is likely enough people that will continue to play along to keep it going. The question then is, what if they stop "buying in" on a mass scale? Under that condition, gold also would have little to no value until a new economy could form. That would likely be a short term condition before gold and silver would be the standard again. To fill in that gap, food and loaded guns would have the most value. Diversity is key, but the lowest level investment (food and guns) should have a high priority. Balance you investments according to your risk tolerance.
I agree. Value comes from its utility.
can i eat gold? most probably not. I can exchange it for goods if the consensus is that it holds inherent value.
That is an if
I am not saying that USD or any fiat currency has inherent value. Value is all based on society's consensus