One of the best blog posts of all time has an analysis of where to put your money if you want to just break even over time. It expresses how many hours the average person would work to buy gold, ‘futures,’ or stock.

Gold is worth 57 hrs/ounce, futures 27 hrs/ounce, and stocks (in units of a $1:$1 500 index fund) 59 hrs/share, with futures looking like the best store of value of the three. Gold is completely, absolutely, entirely worthless as a store of value, ie, almost 100% associated with market sentiment.

If we had bought gold in 1977, we would have paid with a hundred hours of labor. It would only be worth 57 hours of labor today when we would be looking at retirement.

So much for the gold standard.

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