Enlighten me: why has the gold price been dropping in the past year?
From my (limited) understanding of economics, I'd expect gold to go up when (the fear of) inflation kicks in. But instead, it stopped going up the moment the inflation went up. Is this "normal"? Or could it have to be with Bitcoin taking over part of gold's safe haven position?
The Fud on gold is fear of Asteroid mining.
Long term gold will be 10x to 100 more accessible than it is now.
Why else is Musk Bezos and Branson in space?
I don't believe that is true, Musk and Bezos going to space to open a gold mine. Space mining for Rare Earth Metals and Minerials, will mean it is no longer rare and no longer valuable. I can see mining Rare Space Metals/Mineral (what every that would be, or could be... i think the periodic table has most elements discovered)
Nevertheless, i don't see space mining as a threat as the investment needed will never be recoup.
EDIT: Yes, there is massive amounts of GOLD in space... MASSIVE!!...
Long term (100+ years) if the human race is to survive we will be mining gold and other metals.
It is possible to drop a large rock of gold onto the moon. Since gravity is 1/6 that of earth and no friction to burn the rock of gold.
The key is if a magnetic force field style elevator moon to earth and earth to moon is buildable. Simple place a rock of gold in the steel case that magnetic force raises and lowers back and forth to the moon and earth.
Whether this is buildable I do not know.
But the logistics of getting asteroid gold to earth should be solved it it is possible.
Thus the idea that gold is a true long term storage of wealth is not as good as it was in say 2000 or 1990.
Study how aluminum dropped 95% or more once a method to refine it was found. We know are certain the asteroids are loaded with gold. Gold still is a great metal to do electrical work but it may end up being far far far more common than it is today.
If you are a long term company holding 10 billion $$ in gold and 0 $$ in BTC is starting to look dumb.
