The major asset in this category is gold, currently a huge favorite of investors who fear almost all other assets, especially paper money (of whose value, as noted, they are right to be fearful). Gold, however, has two significant shortcomings, being neither of much use nor procreative. True, gold has some industrial and decorative utility, but the demand for these purposes is both limited and incapable of soaking up new production. Meanwhile, if you own one ounce of gold for an eternity, you will still own one ounce at its end.
What motivates most gold purchasers is their belief that the ranks of the fearful will grow ... As 'bandwagon' investors join any party, they create their own truth - for a while.
The fields from Islington to Marybone, To Primrose Hill and Saint John's Wood, Were builded over with pillars of gold; And there Jerusalem's pillars stood.
Tis a blushing shame-faced spirit that mutinies in a man's bosom. It fills a man full of obstacles. It made me once restore a purse of gold that (by chance) I found. It beggars any man that keeps it.
All the manifested world of things and beings are projected by imagination upon the substratum which is the Eternal All-pervading Vishnu, whose nature is Existence-Intelligence; just as the different ornaments are all made out of the same gold.
[Gold] gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.