You are wrong, money is commonly accepted to have three (maybe four) main functions:
1. a medium of exchange
2. a unit of account
3. a store of value

It should be fairly obvious that if you don't do 3. well you can't really do 1. or 2. well.

Tell me, how long of a transaction is a mortgage?

You are comparing a productive asset to a non productive asset.

Yes.. I'm not advocating gold, I was just giving the guy 1 thing.. saying gold in a safe is better then cash. Both of which are way worse then owning something productive.

it's not a medium of exchange if it has no value and nobody will accept it as payment, smart guy

Where is this shop where you can buy bread with gold?

Diversify. Lil bit of this, lil bit of that. Gold makes a convenient "store of value" because it's small and easy to store and doesn't go bad. Hell... you could store value by stocking up boat loads of liqour at wholesale prices. It's going to hold it's value too.. just harder to store. The funny thing is even liqour would probably out perform gold considering aged liqour gains value. I'd worry more about the bottom falling out of the gold market then the liqour market. Liqour has WAAAAY more intrinsic value.

Liquor has acted just the same as gold. It has held it's value. That's all gold has done. What else has gold done that liquor hasn't? You could turn your liquor you bought 50 years ago with gold and turn it into the exact same amount of gold today. You can use your liquor as a median of exchange. Yes it's harder then gold, but gold is hard also. As has been said, you can't really buy anything with gold.

So why are you so obsessed with something people did 6000 years ago? **** didn't change much for thousands of years. Evolution was much slower. Money is a psychological thing among people and people and times have changed drastically with technology. To think we should use the same psychology as people 6000 years ago is stupid.

Authentic rare art has been a great investment and stores value too. Has for thousands of years. Art is money.

I know you are trolling (I mean, I think kinda?)...

But, art is not divisible or nor is it consistent so it is actually a really bad choice of money.

An ounce of gold has a certain value. Two half ounces of gold have the same value as this one ounce. You could take a half ounce from your ounce and combine it with a half ounce from my ounce and you would have a new ounce of gold worth the same as your original ounce or my original ounce.

You could take your Picasso and cut it in half. For the sake of argument I will say that the value of your two halves is equal to the whole Picasso (clearly not true). But, what should be painfully obvious is that if you halve my Van Gogh and combine half of it with half of your Picasso you do not have a new piece of art worth the same as your original Picasso or my original Van Gogh.

So art would actually fail pretty miserably at some of the other functions of money.

Now please, stop being stupid and causing me to waste my time for the sake of thoroughness.

It's cute that you think a bar of gold is easily divisible by anyone beyond people who work with metals.

We can have paper backed by real art.

Liquor lost no purchasing power during Brazilian hyperinflation. Gold lost 70% of its purchasing power.

Liquor is much more stable as a store of value.

but that would be almost as volatile as gold

We do have paper money with excellent craftsmanship and artistry. It isn't volatile at all.

I wonder how many gold bugs actually know whether they actually own any gold...

"But it has a stamp that says that it is a krugerrand, so I am sure it is pretty much pure gold. Those South Africans are pretty cool dudes who have my back."

Don't even get me started on the American Gold Eagle coins. It is quite obvious to me that the corrupt US Mint has been foisting these fake gold coins on the unsuspecting public.

This keeps coming up. What I can't figure out is why the price of gold hasn't skyrocketed because of all this government hoarding.

This has been a rumor forever. I picked up some silver about 12 years ago and they were saying this. Here's the problem and why it's proven to not be true every single day. IF YOU ORDER PHYSICAL SILVER, IT SHOWS UP AT YOUR DOOR! There haven't been any defaults on physical silver.

In 2012 PSLV did a secondary offering for $250 Million and the ****ing silver showed up! Their physical silver is audited.

If silver was being artificially depressed they would have run out and defaulted years ago.

This is all so confusing. I though gold was always worth 386 loaves of bread. Is this not true?

Lol.. nice

If this were the case couldn't a group buy and take delivery of the suppressed price silver that's left and cause them to default thus causing a massive spike in silver prices.

TLDR, but that guy sure looks like a str8 shooter who knows what's going on. If your going to take advice from billionaires, see what Warren buffet has to say. He's got more billions :-)

I don't look to other people to tell me what's going to happen. I think for myself.

I understand what fiat is, that's why I don't hold **** tons of it. I diversify, real estate being a big part.

People are generally smart enough to not buy something that may as well be a random item from a total stranger for $25.

Not all of them, of course. Some people are gullible.