[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.
You could take all the gold that's ever been mined, and it would fill a cube 67 feet in each direction. For what that's worth at current gold prices, you could buy all -- not some -- all of the farmland in the United States. Plus, you could buy 10 Exxon Mobils, plus have $1 trillion of walking-around money. Or you could have a big cube of metal. Which would you take? Which is going to produce more value?
Gold, unlike all other commodities, is a currency...and the major thrust in the demand for gold is not for jewelry. It's not for anything other than an escape from what is perceived to be a fiat money system, paper money, that seems to be deteriorating.
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.
To lese-majeste and contempt of court, we must add the crime of lese-million, that fearful indignity we visit on the rich when we expose the impotence of gold.
These joys were so trifling as to be as imperceptible as grains of gold among the sand, and in moments of depression she saw nothing but the sand; yet there were brighter moments when she felt nothing but joy, saw nothing but the gold.
I went to the circus, and loafed around the back side till the watchman went by, and then dived in under the tent. I had my twenty-dollar gold piece and some other money, but I reckoned I better save it.... I ain't opposed to spending money on circuses, when there ain't no other way, but there ain't no use in wasting it on them.