Historically, gold is the worst investment class.
Hogwash! This meme has become more prevalent on message boards than the 1 ≠ 0.99999999... meme.
Where in heck does this obviously false meme come from? Is it just a political reaction to carnies like Rush Limbaugh touting Trump medallions or WTF?
The gold price is now 10x what the price was in 2001. That's TEN with a T, an E and an N.
The Nikkei-225 stock average (in dollars) is trading slightly BELOW its 1989 high. Gold has increased more than 7x over the same time period. The only reason Nikkei-225 is even near its 1989 high is the dramatic price doubling over the past 4.9 years.
The FTSE-100 is up only 16% (in dollars) since its high in 2000. (With dividends reinvested this might be a 100% increase or thereabouts.) Gold is up 900% over the same period.
The S&P500 index is less than 4x its 2007 high, or about 5x with dividends reinvested. Gold is up more than 4x over the same period.
@Loren Pechtel -- Do you still stand by your "Historically, gold is the worst investment class" claim??
PLEASE note: I am NOT suggesting that gold is a better investment than U.S. stocks. I'm merely refuting the
absolute gibberish that comes from otherwise-intelligent people when their attachment to the silly meme that "gold is worthless" kicks in.
If forced to predict the future, I'll guess that a well-chosen basket of crypto-coins will outperform gold over the next three years or so. But I'll guess gold would outperform the crypto basket if you hold for 25 years or so.
It's chemical properties are "is literally a timeless shiny bauble" in post collapse terms.
More gibberish. To satisfy needs for reliability, durability and conductivity, gold is often used in electronics, especially for aerospace. Satellites and space probes can each contain as much as 1 kilogram of gold (Google says 5 kg but provides no examples), or $82k worth at the present price.
I'll guess that the AS bot ChatGPT pulled the following numbers out of its ass. But it's still better informed than those who describe gold as a worthless metal useful only for impressing certain women.
Chat GPT said:
In total, an Airbus A320 likely contains around 10 to 15 kg (22 to 33 pounds) of gold spread across the avionics, electrical systems, and connectors. Most of this gold is used in the critical systems of the aircraft, such as the cockpit avionics, navigation, and communication systems.
I'll bet this Artificial Stupidity engine had to hallucinate to come up with the (probably much too high) "10 to 15 kg" figure! But what is the correct number?
