I understand guns completely. Guns will have real value in the post apocalyptic Randian hellscape. But can anyone explain to me how this is supposed to work with gold? I genuinely don’t know. What gives gold its intrinsic value? That people like to buy tacky hearing bone necklaces? Who are all these guys buying gold at the “We Buy Gold” shops on South Florida Avenue selling to?
I mean, assume we have a run-of-the-mill Great Depression. Wouldn’t the price of gold, which is a luxury item, collapse along with the demand of consumer and luxury products generally? Wouldn’t the stuff they make cell phones with–that mineral dug by child soldiers in Africa–make a smarter hedge actually tied to demand? Or am I missing something? And if you buy gold through a broker, can you take possession of the gold bars somehow? Can you drive to some gold depository and pick it up?
And then assume we go all Mad Max, the full Monty of social and economic collapse, how is gold useful to you in that situation? Cuz it’s pretty? I think the idea is somehow that when cash loses all value, gold will still serve as legal tender. But how and why? And wouldn’t foodstuff crops make a lot more sense. I can’t think of anything less useful in the Randian hellscape than a really heavy, stubby, and unswingable hunk of metal.
I truly am befuddled. Can anyone help? I don’t get it.