this post was submitted on 12 Aug 2026
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More like the price of gold is artificially inflated far beyond any actual value.
The alternative view is that the real value of government issued currencies has fallen and Gold just kept going along with its 1.2% yearly inflation due to gold mining.
That the official currencies buy less and less (as I pointed) leans more towards the view that the value of government issued and controller currencies is being inflated away much faster than the value of an ancient currency which is not controlled by any government and only devalues by more of it being mined.
In other words, at medium and long time frames Gold is not an investment asset, it's a store of wealth outside the control of politicians.
If there is more gold, it's value should go down. The price should only go up when supply becomes limited, or some new thing demands more than usual.
Gold has a lot of practical use, but because it's value is hyper inflated it is almost always more cost effective to use a cheaper material. Which, incidentally, is driving the cost of those materials up.
I'm not saying gold should be the same price as copper. I am saying that in a rational environment the prices should be comparably similar.
As it is, gold is 10,000 times as expensive as copper.
if more gold shows up it will go down. but their aren't a lot of gold mines anymore.