What value is gold? Outside of industrial use the only value in gold is what someone is willing to pay or trade for it.
Anything over the intrinsic value of gold depends on psychology, people thinking having gold is a good thing. A change in thinking would cause the value of gold to drop down to its real value.
Russia would be better served improving her farms, infrastructure, developing raw material and improving her work force. Having gold does not improve the life of her citizens nor increase the wealth of the nation.
At least that is my two cents worth.
I’ll pay ya $150/oz. Plus, free delivery, of course.
There is no intrinsic value to anything.
All value is psychological. Gold is valuable because people value it -- nothing more, nothing less.
History has proven them right on more than one occasion.
Exactly. Gold is just a yellow metal, which is no more “real money” than printed cash. On the off-chance that financial system totally collapse, one could stock up... Swiss watches, amber jewelry or any other items that are relatively small and don't lose value over time.
BTW Zero Hedge is pretty much a conspiracy website full of anti-American and pro-Putin bias.