Hard tangible assets? You mean like houses, water rights, agricultural land, livestock, oil and coal reserves, etc.?
Gold, unless it's in the form of jewelry or other tangible products that have some utility in and of themselves, is no more "tangible" than paper currency. It is a representation of wealth - a way of storing your wealth - just as paper currency. You can't eat it (ok, gold leaf is edible, but...), you can't heat your home with it, it can't transport you to work, it doesn't even make good tools because it's too soft. Oh, and it's less liquid than many paper currencies. Can you go to Kroger and buy eggs and milk with it? Can you pay your gas bill with it?
Tell me again why gold is so great. |
