Originally Posted by
upside_umop
I watched that video - what a joke. Why on earth does he think that gold has a linear relationship to the monetary base? Gold is worth as much as it costs to mine out and for someone to spend the time and opportunity cost to lock it away. To me, that would be 0. But to the other fools, it's currently $2000 nzd.
Is gold money? No - you can't go and use it in general expenditure, can you? The Fed still holds it's gold at historical cost so obviously doesn't care about it too much.
What other central banks hold gold in developed countries? 5/8 th's of sweet f.a.
JB, you talk of these gold miners making fat profits? You mean, your ARV, HLX, NAV, PXG to name a few? These have only been going one way and that's down...