I was asked this today and I couldn't answer it. Why is it a store of wealth? Could someone answer this for me so I don't sit there and look so dumb next time? Thanks
Getting it out of the ground takes effort. If you weren't busy digging it out of the ground you could be doing something else, so the physical gold represents the effort that was expended finding it.
The current spot price is way above production cost though at the moment. Believed to be around $1200-$1400. There is also no huge consumption of gold. A lot of hoarding yes, but consumption no. So, there are times I also wonder, why is it so precious?
because it is the "thing" of choice the royal families/aristocrats/globalists etc that is at the root of, and underpins the scheme that has spawned the mechanations of the apparent financial system as we know it today ... tell them if they roll the financial system back into reverse it leads to gold that is what it is all about like the story of the fellow carting straw in the wheel barrow and being stopped by guards sifting through the straw to see if he is taking anything only to find nothing but straw ... they thought he was hiding something in the straw .... but what he was taking that was of value ... was wheelbarrows ...
or tell them the old royal families belong to the bloodline of the ancient mystery schools and know things about gold .... they desire it for its metaphysical properties, its atomic properties and high electron spin state - they get off on it like when Moses came down from the mountain and burned the golden calf and fed it to the Israelites ( they ate it and did weird kinky stuff with it) some old habits are hard to break ...
I think thats one of the Simplest and clear explanations i have come across.If you don't mind Big AD i might pinch this for future use I'll also add its the colour of the Sun~ God,a long revered awe inspiring power + its malleable REDBACK
What a silly question, cecil!! Its because its pretty!!! Its hard to get, impresses well (for coinage), can easily be mixed with other metals, can be drawn into very fine wire (ductility), can be hammered so flat you can see through it (malleability:- eg; gold leaf, the visors the astronauts wore on the moon), melts easily but doesn't tarnish, looks really good when woven into cloth (see fine wire). Oh, and did I mention its really pretty in bar form
It is the only thing that has stayed solid and unchanging throughout history. It is a baseline for wealth as it is rare, solid, heavy and incorruptible. Humans like to have something to anchor themselves with across time, and gold serves as an anchor and reference point for worth that is universal across every race on Earth that has the ability to obtain it. It is the least ephemeral material that we have found.
gold is extremely ductile and can be formed into very thin flat sheets - take said flat sheet and make a gold foil hat - wear said hat to block stray electro magnetic fields and mind control rays - so they can receive cosmic information from their interdimensional overlords - at any rate its better than pieces of paper and looks great as a fashion accessory - Tutenkhamen had a terrific headpiece
gold is needed for its monoatomic properties - and is reduced to a fine ash - which is said to act as a room temperature superconductor and has antigravity and levitation properties lodge a patent with the keywords gold and room temperature superconductor - sit back and expect a visit from an agent of the military government knocking on your door
personally i dont believe the "gold is hoarded" line we get told - i wanna see an audit of Fort Knox and see how the "hoarding" is going
There is nothing on this planet that is anything like gold. It is an element that does not chemically combine with other elements, does not tarnish, is highly malleable, easy to melt, can be subdivided indefinitely, and can't be counterfeited. Gold historically (since man learned to scratch his bum) has been thought of primarily as a monetary or investment metal and hence a store of wealth. Gold is the ultimate competitor to the U.S. dollar and as it (the Reserve Currency) cascades down to zero value, so gold will increase in value (against it). So keep buying, because you ain't seen nuthin' yet.
gold is said to be an "inert" metal and has been described as a "noble" element - alchemists have been fascinated with it for eons
Feel free The long version of that though is that if "gold is money" then to create more money which can circulate throughout an economy, resources have to be diverted from other areas of that economy - you can't just press some buttons and more money comes into existence; you actually have to find someone who would otherwise be a farmer or a lawyer or a mechanic to actually go out and dig the stuff out of the ground. This means the only way for an economy to grow sustainably is by limiting its growth to whatever can be achieved while that proportion of activity is dedicated just to creating the extra money. The efforts of those people who go out and find the gold are recognised by everyone else who doesn't through their demand for gold. If those other people want money then demand for gold goes up and the value of the gold being dug out of the ground increases and this is where gold's status as a "safe haven" comes from - demand for gold increases proportionally to the level of distrust in a fiat-based economy because while some other bugger is busy digging a hole, he's out of circulation from the regular labour force and isn't competing for my job. So yeah, long story short: its a balancing act to keep resources out of a weak economy by making it worthwhile for people to dig holes in the ground looking for shiny stuff. If you think that sounds ridiculous, consider the alternatives.
