Comments by "Stephen Jenkins" (@stephenjenkins7971) on "MHFIN" channel.

@GastonMaqueda You may as well ask why a green-colored piece of paper is worth anything. The answer is the same as gold; it's because people trust that it has value. But say that civilization collapses; then gold will lose a LOT of its value in favor of essentials like food or weapons. Gold is just another fiat currency, in reality.
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Well of course they laughed. They were dead-wrong and claimed that the US economy would literally collapse and hyperinflation would occur that made the Great Depression look like a joke and the Dollar would be abandoned for gold. People have been promising that every year.
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@GastonMaqueda Gold has intrinsic value...which does not reflect well on its value as a shiny mineral. Its go-to value since humans first had it was as a shiny mineral and would mean little and less since industries would collapse and thus its value would beholden to it being a shiny mineral. It's use as a currency would 100% be like the Dollar. And its use prior to the Dollar was even more so; except unlike paper money, you can't manipulate its value to prevent an economic depression. So basically, this is stupid on multiple fronts. You can devalue gold by having less in your currency, or not have enough gold to justify a currencies price. What, do you think inflation occurred first with paper money? It happened all the damn time with economies with gold -and unlike gold, it can't work for a population of 300+ million people. God, gold enthusiasts are just willfully blind to its drawbacks and why it was abanadoned.
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