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In 1971 when Nixon took the dollar off the gold standard, gold was trading at about $42/oz.

I've seen you use this argument before, and it's no less convincing no matter how many times to try to sell it.

You have picked the single data point that's best to make the point. It's like saying "Hey! If you'd only bought Apple in 1984..." without acknowledging that there was a 20 year span when that investment went in the tank.

Hey! If you'd only bought gold in 1984, your $100,000 would now be worth around $60,000, and that's in inflation depreciated dollars.

Do you want to explain how that is a "store of value"? By contrast, if you put $100,000 in a lock box you'd still have $100,000 (again, inflation depreciated), and if you'd put it in a savings account at 5% you'd have $432,000. Given that an inflation calculator will tell you that you need $239,000 to match the buying power of $100,000 in 1984, it appears you'd be well ahead by having the cash.
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