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RE: The Real Reason Billionaire Investors Buy Gold, and Why The Sky is NOT Falling - SPOILER ALERT: @dollarvigilante is wrong!
Gold is NOT an investment. Gold is MONEY, pure and simple, and one of the oldest and durable forms money there is. It does not pay interest, because there is no counterparty risk. In a world where financial assets have negative yields, gold actually has a yield in real terms for the first time in the history of the world. If you can't explain why that might be, you really have nothing to say. Something is very wrong...
Webster defines money as follows: something generally accepted as a medium of exchange, a measure of value, or a means of payment.
I'm not sure what your argument is. Yes, gold could technically be called money, though you couldn't take a block of raw gold (which is what is being traded on) to Walmart and buy your groceries with it. In order for it to feasibly be money, it would have to be in a form that had a recognized denomination of value. A more accurate term, is "commodity". It is a relatively stable commodity, but a commodity nonetheless. Its value is driven by supply and demand. Its current value is driven by higher demand on a harder-to-mine supply. Gold has been traded for yield on multiple occasions in history and has been rising and producing a yield since 1971 (I reference 2011 and 2013 when George Soros traded at profits). Any commodity can achieve a yield based on price fluctuations and when it is bought and sold. So yes, it is an investment, and yes, I suppose you could also call it money. You're arguing semantics, but I'm still not sure what the argument is.