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
Gold isn't about a 'real' crisis. It's a hedge against central bank money debasement. And banks have all been printing money like crazy.
The problem with gold is that the way to achieve central bank money debasement include neutralisation of those who need to stockpile gold.
And during that fight gold does not help a lot, since those who is behind central bank money debasement did everything to make nearly impossible to use gold as a mean of money saving. You will inevitably loose part of gold value at the moment of buying and at the moment of sell.
You lose money holding fiat 100% guaranteed. They actually have targets about how much your currency will lose value every year. It's usually 2% but of course it's compound interest.
In most cases, certainly yes. In rare cases using fiat of another country with deflation could be even profitable.
2% is very optimistic. Infaltion is often hidden in food, goods and other stuff. F.e. you could by a sausage for $1 10 years ago. Today same sausage cost $1.2 and you think that inflation is 2%. But in new sausage you have only 50% of meat that was in sausage 10 years ago, other is soy beans or whatever. So, real infaltion is much higher - at least 7%.