> There is a reason why an investor that holds a security until it is worthless is called a "bag holder". It makes no sense to "invest" in any currency when you can own productive assets instead.
The price of gold is nonzero for a good amount of years (2k+), so a lot of people buy/hold it and in that sense your theory is incorrect.
Also productivity is not everything, sometimes "keeping what you have" is much more important.
Finally, there are situations where you cannot
- just emigrate to a country that respects your property rights (see migrant crisis)
- buy US or other stocks
> Do some research on ROI for gold against the stock market for the past 80 years. You will find that it has a pitiful return when compared to owning stocks
Of course, do your research on X and you will find a time when X > stocks > Y. Hell, do it on bitcoin, it outperforms stocks during the last 10 years :-P
> At the end of the day if you have no productive use for the asset, why hold it?
Cheap/anonymous remittance and storing value without trusting a 3rd party are valuable, even if it's not productive.
If you're really convinced about what you say, short gold and bitcoin. You'll get rich if you're correct and wiser if you're not.