4 July 2019 - safe haven

Why is gold a safe haven investment? In part because it is durable and independent of institutions that may fail, but mostly because people see it as a safe haven investment and buy gold in crisis times, lifting its price and convincing themselves that it works. In other words, perceived safety comes from groupthink, which destroys safety. My plan is to sneak a neutron source into the vault and transmute the gold to liquid mercury, subverting every expectation. Then I’ll promote doing favors for me as the new secure store of value. Next thing you know, I’ll be king of the world.