...it is still the worlds most elaboreate and self-justifed ponzi scheme. This is because gold has no real value other than luster, and can only generate value if you convince someone else it has worth (buy it from you).This because it is a financial asset that creates no value. This is very different than a real wealth that one needs to sustain life or can enjoy. So I continue to own metals stocks for now (trimming into strength) but they are holding I love to hate. Ultimately one can not get rich or insure themselves against anything by holding things that are not productive like gold. At least a house can be rented.
Look guys. The choice is not "dollar bills" vs "gold". One can hold neither and enjoy dinner out. The mechanism of "money" is not the center of the universe, rather what is paramount are the items being exchanged (the things of real value). Gold/money/other is just a convenient way to facilitate the transaction and store *future* consummption. It is not value itself.