Coronavirus pandemic, gold and human foolishness

“Gold is a relic!” Maynard Keynes, the famous British economist of the twentieth century wrote.

Yes. Gold is a strange relic – one that continues alive in the minds of billions of people. In normal times, millions of poor people – mostly Asian, some very poor, resort to gold as a storage of value. An example: there are dozens of thousands of poor Indian widows applying their meagre savings in gold.

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