Until today I would have agreed with what you wrote. I own a lot of gold. But with just one sentence in your post you changed my mind. "Even in prehistory gold was performing the role it has always performed - and always will: to store and display and exchange value." ALWAYS WILL !!! There most certainly will come a time in the future when mankind will not value gold in the same way as terrestrial man currently does. No one knows how long that takes. But your statement that the current status quo will always be true, tells me that the divergence from it is closer than you perceive. The thought of a "Star Trek" style future humanity caring about gold reserves is absurd. How far are we from that future reality and at what point does gold remove itself from our Psyche is the unknown. What is evident in your post is that you don't even acknowledge the divergence will take place, so how could you know if we are not at the divergence right now?
For sure we have lost touch with gold in the west. We barely use it. But when westerners see it they are still compelled by it. Same will apply even in Mad Max intergalactic space scenario imo
That seems like an overreaction to me. Just because we may (if we don’t destroy ourselves first) one day arrive at a post-scarcity future should give you no reason to believe that gold is about to lose its role as a store of wealth ‘right now’.
As I wrote "I own a lot of gold." I question the typical gold holders decision making skills to determine when the divergence happens. Clearly it will not happen next week or next year. But ALWAYS is a long time and I now doubt that gold holders (like myself) will get it right even when we see it.
Yes, ‘when to sell’ is a difficult one, one I certainly struggle with, because I still believe that the decisions I made to invest still hold true. Perhaps it will be for my heirs to eventually cash in. 😀
Very good post. A lot of crypto fans who dismiss gold’s inherent value have never had a girlfriend.
Until today I would have agreed with what you wrote. I own a lot of gold. But with just one sentence in your post you changed my mind. "Even in prehistory gold was performing the role it has always performed - and always will: to store and display and exchange value." ALWAYS WILL !!! There most certainly will come a time in the future when mankind will not value gold in the same way as terrestrial man currently does. No one knows how long that takes. But your statement that the current status quo will always be true, tells me that the divergence from it is closer than you perceive. The thought of a "Star Trek" style future humanity caring about gold reserves is absurd. How far are we from that future reality and at what point does gold remove itself from our Psyche is the unknown. What is evident in your post is that you don't even acknowledge the divergence will take place, so how could you know if we are not at the divergence right now?
For sure we have lost touch with gold in the west. We barely use it. But when westerners see it they are still compelled by it. Same will apply even in Mad Max intergalactic space scenario imo
That seems like an overreaction to me. Just because we may (if we don’t destroy ourselves first) one day arrive at a post-scarcity future should give you no reason to believe that gold is about to lose its role as a store of wealth ‘right now’.
As I wrote "I own a lot of gold." I question the typical gold holders decision making skills to determine when the divergence happens. Clearly it will not happen next week or next year. But ALWAYS is a long time and I now doubt that gold holders (like myself) will get it right even when we see it.
Yes, ‘when to sell’ is a difficult one, one I certainly struggle with, because I still believe that the decisions I made to invest still hold true. Perhaps it will be for my heirs to eventually cash in. 😀