Did you buy gold during this crisis to keep your savings safe?
Then you shouldn't read any further.
I will now make a plea for a ban on gold trading.
Here we go.
Gold is perhaps the most useless metal in the world.
It is too soft for bridge structures or vehicle bodies.
It's too heavy for everyday items.
It is practically obsolete as a currency: In all industrialized nations, money is no longer linked to precious metals as it was in the past, but is covered solely by the amount of goods in circulation.
And ceramic is even more suitable as a dental prosthesis than the supposedly noble metal.
But gold mining is a huge environmental mess.
The mining destroys fields, poisons rivers and threatens nature reserves.
Rainforests are being cleared to make way for gold mines, and child labor is widespread there.
The problems are so great that some jewelry manufacturers only process sustainably mined gold.
This might get a grip on the worst excesses, but the truth about gold is that it would be best for everyone if it stayed in the ground.
An unscrupulous gold mafia
Gold is not even particularly useful as a financial investment.
Of course, the price of gold usually rises in a crisis.
But the crisis is not normal.
A study by the investment bank Credit Suisse and the London Business School has shown: Over the past 50 years, global equities brought in 5.3 percent and bonds 4.4 percent of annual returns.
The supposedly safe gold on the other hand: 0.7 percent.
The “long-term performance” of the precious metal “tends to be rather weak,” writes the bank.
This is no wonder either: unlike a share, a bar of gold does not generate a dividend.
It always remains the same size and weight.
Its value only rises when (as is the case now) suddenly many people want to buy gold, for example because they are afraid of inflation or social upheaval.
The only problem is: if everything really collapses, then gold won't help either.
It is just a form of money and does not derive its value from itself, but solely from the fact that others consider it valuable.
You can't eat gold, you can't seal a roof with it, you can't use it to defend your property.
Anyone who really believes in the apocalypse should buy farmland, dairy cows, tuna cans, whiskey, weapons, maybe real estate.
But no gold.
Five to eight
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Gold owes its reputation as a lucrative investment primarily to an unscrupulous gold mafia that deals with people's fears.
It is no coincidence that the yellow metal finds its supporters in national liberal and right-wing extremist milieus.
The AfD once founded a gold shop, the managing director of the gold dealer Degussa is Markus Krall, a colorful figure of the right-wing conservative scene.
With his association Atlas Initiative he advocates, among other things, the "traditional family image as the nucleus of the state and society", calls for an "orientation of the state educational offer to quality and a liberation from extraneous ideologically motivated content" and philosophizes about the restriction the right to vote for recipients of social transfers.
You could also put it this way: Gold is the Reich citizen among financial investments.
His time is up.
It should be withdrawn from circulation.
Like asbestos, mercury or chlorofluorocarbons.
So here is a suggestion: The gold that has already been mined may be used for chains, rings or bracelets.
Trading in bars or coins, however, is prohibited.
There are enough problems in the world.