"Gold is a Unit of Monetary Gambling"

Benjamin Cox |


Benjamin starts off by talking about why he does not like gold as a metal and how it is fundamentally a recycled metal, not a mine metal. Because of this, gold is a unit of monetary gambling, not a unit of mining gambling. Also, a large portion is levered; when gold prices go down, you end up with economic collapse. The final reason he is not a fan of gold is because he likes metals that people use and gold is not actually consumed. Benjamin discusses his disinterest in the gold craze by explaining how he doesn’t feel he has an advantage over anyone in finding an exceptional gold play. Since he is a finance guy, his advantage is in his ability to better delineate how to price a resource when it is found, and all gold is expensive. Copper is cheap, so he’d rather buy copper assets.

 

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