Originally Posted by sheriff733
Well, it's extremely high, yes, but who knows about the future price.
I say that because GOLD DOES NOT HAVE VALUE. That's right. It does not.
Let me explain.
Gold is a commodity. It's only worth is what two people fighting over it will pay for it. If all of a sudden gravel rocks were a highly sought after item, we'd be paying through the nose for it too. The only value gold has is whatever another person deems it to be worth. That's a hell of a risky investment.
Gold is based on supply and demand. As you know, things that are based on supply and demand fluctuate in value. When things get really bad, it'll be just as valuable as the piece of green paper in your pocket.
It's all an illusion. Gold's value is not based on math. It's based on someone's opinion, and no way in the world would I bet my way of life on another person's opinion. I would advise you to do the same.
Could not the same argument be made for U.S. Dollars? They only have value because of someone's opinion of them? The U.S. Dollar is also subject to the laws of supply and demand. The more U.S. dollars that are printed, the less value they have.
So if both gold and U.S. dollars are subject to the same laws of supply and demand and U.S. dollars have an infinite supply and gold is very rare comparatively and cannot be created out of thin air like U.S. dollars, which one will be more valuable in the future? That would be gold. And that is why gold is only going to go up in price and maintain purchasing power versus the U.S. dollar.
Buy gold. It's a no brainer for those that have done their homework.