Mark Dice says that hardly anyone knows the price of gold. To prove this, he went out on a pier at the beach in southern California. He stopped people and told them they could have a free gold coin if they guessed the price of gold within 25%. He showed them the coin.
No risk. No problem. Free gold.
A lot of people just walked away. No interest in the offer. Contempt for the offer. Not worth spitting on. “Buzz off, Bozo.” I mean who wants free gold, anyway? It’s a trick.
The survey had to end when someone guessed right. No more coin. No more survey.
He will be able to take another survey.
Significance? Gold is not money.
Anything that no one knows the price of, is not money.
If no one wants it for free, it’s not money.
Anyone who says that gold is money for anyone except central bankers, who have rigged the game with the clueless general public, does not understand free markets, voluntary exchange, and the role of money in a division of labor economy.
Ludwig von Mises said that money is the most marketable commodity. A commodity that ignorant Americans do not want for free is not money.
If gold is not money in the United States, then it’s not money in the West. The United States has the central economy in the West.
In India, it might be money. Maybe in China. Or at least it could become money.
The gold-haters have done their work well. They have won the war on gold with the man in the street, which is the only place it really matters: in the street.
If you think there is any chance short of an economic catastrophe of returning to the gold coin standard, watch this video.
If your plans include a return to the gold coin standard, watch this video.
If you think you will be able to barter gold coins for survival goods during a crisis, watch this video.
If you think that gold can be used on its own to attain personal wealth, without your having to go to a gold coin brokerage house and exchange it for fiat money (and pay ordinary-income taxes on the profits), watch this video.
If you bought gold for any reason other than making fiat money on a buy-then-sell deal, watch this video.