Gold myths

According to Charles Lewis Sizemore, the following beliefs are inaccurate

  1. Gold is an investment
  2. Gold is a store of value
  3. Gold is a contrarian trade

He quotes Warren Buffett

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?

Persimmons

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