Why do people assume gold has intrinsic value?
I just saw today they were freaking out about how much gold is fluctuating, it is just as imaginary as the dollar.
Technically the Big Mac does provide some form of intrinsic value in the form of food for the homless. but for the average person it would actually give them more value to take the big mac away so it has sorta a negative value, negative intrinsic value, I think I just invented that.
That’s a zoom out of 5 years Gold prices don’t move in a straight line. On a day‑to‑day and week‑to‑week basis, there are ups and downs - it zigzags it is absolutely fluctuating but the bigger problem is the sharp incline which suggests it is in a bubble.
And none of any of that has anything to do with anything I said.
Gold is nothing but an uncertainty indicator proxy, if gold price goes up, people are unsure in the market and future returns and thus buy gold, if the price is low the market and economy feels stable and people don’t buy gold
Is there any gold involved in the process of you typing and posting that comment?
Could there maybe be, I dunno, gold, literally as a direct component in, or vital to the manufacturing process of … maybe some kind of computer chip or something?
Sure, gold has its actual uses, that’s why it’s marginally better than bitcoin, but the majority of gold is in jewelry or used as a investment vehicle.
Why do people assume gold has intrinsic value? I just saw today they were freaking out about how much gold is fluctuating, it is just as imaginary as the dollar.
Technically the Big Mac does provide some form of intrinsic value in the form of food for the homless. but for the average person it would actually give them more value to take the big mac away so it has sorta a negative value, negative intrinsic value, I think I just invented that.
The word “fluctuating” implies the price of gold has been going up and down. That is not what has happened since the Commander-In-Thief took office.
Market price of one ounce of gold over the last five years:
That’s a zoom out of 5 years Gold prices don’t move in a straight line. On a day‑to‑day and week‑to‑week basis, there are ups and downs - it zigzags it is absolutely fluctuating but the bigger problem is the sharp incline which suggests it is in a bubble.
And none of any of that has anything to do with anything I said.
Gold is nothing but an uncertainty indicator proxy, if gold price goes up, people are unsure in the market and future returns and thus buy gold, if the price is low the market and economy feels stable and people don’t buy gold
Question for you:
Is there any gold involved in the process of you typing and posting that comment?
Could there maybe be, I dunno, gold, literally as a direct component in, or vital to the manufacturing process of … maybe some kind of computer chip or something?
Sure, gold has its actual uses, that’s why it’s marginally better than bitcoin, but the majority of gold is in jewelry or used as a investment vehicle.