I wonder how a purchase of the Dow at the 1929 peak would have done 30 years later, compared to a checking account. Or a purchase of the nasdaq at 5000...where will that be in another 21 years? Or let's consider UK consols bought in 1913, lol.
Basically, this article was written by a moron. Bloomberg is plumbing new depths in its race to become as ridiculous as CNBS.
Gold does have one advantage. Unlike many national stock markets, national government bonds, national t-bills, gold has never become worthless. An investor in Russia, France, Japan, Austria, or Germany who in 1910 only had his money in stocks, bonds, and a local bank account would have gotten wiped out. One who had 10-20% in gold would have survived financially. There is a reason why gold is popular in a lot of the 2nd and 3rd world. I'm sure late 19th century Argentines thought gold was no longer necessary when they could invest in the assets of a very rich, prosperous capitalist country.
