Gold makes Hey Hey Hey flash crash



Look at gold, such a boomer investment. As a 12-year-old internet user, I don't know why people want gold.

  • can I save gold on a USB stick?

  • can I send gold by email?

  • can I easily transport it?

Nope, and it has close to an unlimited supply. It only depends on the costs to mine it.

So what's the point of holding gold?

Besides the joking, IMO gold is something with a highly manipulated price, controlled by paper gold.

Sure Crypto is manipulated too, but onchain metrics can show who are the whales.

Sure paper coins are on Crypto too that exchanges print. Paper sells and paper buys. But it doesn't matter on the fact that outside of the exchanges we know the supply and the holder wallets. For gold, there is no trustful data.

What do you think? IMO gold will lose value in the next 20 years. Not because of this flash crash, more because young people are less likely to value it.

Peter Schiff: