Gold?

Thar’s gold in them there hills…if you have $3,000 for an ounce. I find our global economic system fascinating. As scientific as everyone would like to think it is, especially experts, it is not. Gold and money are based upon the value human beings give them and emotion is a key factor in determining this value. They actually are worthless on their own.

The point is, with today’s plethora of economic uncertainties, people are turning to gold as a “safe” investment. Even this “safe” investment is not 100% full proof. Gold only has value if everyone agrees it is worth something. In the event of a dire catastrophe, and this is always a possibility even if we don’t want to acknowledge it, it is not.

We need food and water to survive. What’s more important, having gold or having food and water? If you need these two commodities to survive, would you choose an offer of gold over getting food and water? Economics is not scientific and the value we give to things is very subjective, including money and gold. There is no full proof place to invest money and the global economic system is jittery at the best of times. Just think, our entire economic system is based upon human whims and frailties. Maybe you don’t want to think about it.