Recently I happened upon one of the clearest and most straight forward reasons not to waste any time investing in gold.
When asked, the Oracle of Omaha put it simply –
All of the gold in the world ever found put together, would make a cube about 67 feet on each side and be worth roughly 7 Trillion – or as he so casually put it, about as much as all of the farmland in America, 7 Exxon Mobile’s and a cool trillion in “walking around money”.
He followed by stating that gold is only worth what the next guy will pay for it, the future of fear in essence, while of course all the farmland in America will produce revenue until we become robots.
Personal note, I love gold. It’s shiny it’s worth something everywhere… if you don’t get robbed for your 1400.00 tiny piece of gold. Which brings me to “SHTF” – even if you can afford to hoard it, who is going to keep it safe when the hoards of looters come with nothing to lose, probably your “security” guy.
Remember Duck Tales – every episode was about taking all of Scrooge Ducks giant horde of gold by force – #imaginesilver