Then how are you going to eat a bank account that you have no access to, or stocks that crashed?
I would rather have something in my hand that has been valuable since the start of civilization and can't be destroyed,
than $0 in a crashed bank or stock market.
What an idiotic comment. No matter WHAT currency is based on, or what is used for currency,
there will ALWAYS be those that have more than others. Use shells for money and there will be those that are able to acquire more shells than others.
People have agreed it has value since the beginning of civilization. And $0 doesn't taste good.
That is what they teach banking students (gold has no value, you can't eat gold, etc.). My son-in-law is a broker and spouts the same indoctrination.
The Fed Reserve type professors taught them well. They are terrified when people talk about gold/precious metals backed currency. Terrified.