If you haven't seen the headlines yet Billionaire investor Mark Cuban said Some Choice things about gold as well as People who invest in it and he also was Talking highly of Bitcoin so the podcast That he said this on actually came out Today we're gonna listen to it and see If we can break down what he says Like would you buy gold I have gold okay Everybody likes you know what if you Have gold you're dumb Well I mean it never It's it's a small part it's like a hedge Against everything else it's a hensman Against everything but yes it is but It's not gold no no but it's not a hedge Against anything right what it is is a Store value and you don't own the Physical gold do you so Mark Cuban comes Out the gate swinging first he says if You own gold you're an idiot uh although He didn't put it that eloquently second He says gold is a hedge against nothing Which is an interesting stance then he Says gold is a store of value so at Least he's conceding that gold has some Purpose you can store value in Gold but Then he asks Bill Maher if he owns any Physical gold no no of course well I Don't who knows it what what I know is It never goes away it's always worth Something you can always sell it just Bitcoin Bitcoin gold is a store of value and so
That's not that's a that is an apt Analogy because you don't hold the gold But go but the world is not run by gold No it's not and it's not run by Bitcoin Either it's but it's yeah you're I mean I can't deny that it's it although it is Based on actually mining something which Is crazily that's why we got off the Gold standard because it's crazy to hook A camera a currency to what you can find In the ground but but you and your Ownership you don't own the gold bar and If everything went to hell in a Handbasket and you had a gold bar you Know what would happen so it would be You would kill you would take your gold Bar okay so there's a lot to unpack There now Mark Cuban says that golden Bitcoin are both a store of value and I Believe he's referring to digital gold Or paper gold he's not talking about Physical gold when he says this because After Bill brings up that we're not on The gold standard anymore Mark says look If if you owned physical gold if you had A gold bar someone is going to kill you And take that bar from you so clearly he Doesn't think physical gold is a store Of value if someone can just strip it From you he's talking about digital gold And then they can use the bar to hit Somebody and that's it what are you Gonna shave a little piece of gold so Someone waves it I mean look I mean
Right here Mark is trying to say that You cannot use gold for money and this Is simply incorrect he's saying what are You gonna do shave off a little piece Have someone weigh it he's inferring That if you try to use it as a currency It would be worthless well the reality Is we have used gold as money for Thousands of years and in fact last year People were shaving off little pieces of Gold in Venezuela to pay for things Because their currency was going through Hyperinflation their currency was the Thing that was worthless and the thing That had worth and value was the Physical gold the idea that money isn't An idea is not wrong no it's right but We tie our money to I mean Apple makes Something a phone is something real that You drop jewelry if the world would go Most of the economy is not going no but The point is the economy is iPhones And it's been valued at a thousand Dollars but we're talking about paying To something we're talking about Bitcoin And Bitcoin to nothing which is neither Is gold really right again gold if you Don't if gold was controlling our Economy right now I would say you have a Good argument gold is not we got off Gold in the third no is that you're Making my point though Bill you're Making my point when you own gold all You own is a digital transaction and
There is the confirmation right there so Basically Mark thinks that if you own Physical gold it's completely worthless You're an idiot someone's just gonna Kill you and take it from you but if you Own a paper version of gold digital gold All you own is a digital transaction and He's actually right if the only gold you Own is a gold ETF you don't actually own Gold you just own a coupon that says you Have gold when you watch why we're not Mostly in gold and that's fine right I'm Not mostly a Bitcoin right it's just Something that I own okay but it's just It's this digital transaction and it It's a store of value that's the term For it a store value so people perceive That there's value associated with gold I mean there's value associated with Bitcoin now when it comes to physical Gold I do not think Mark could be more Wrong you absolutely could use gold as a Currency if you ever needed to but Beyond that gold is a store of wealth It's insurance if there ever was a Currency collapse your wealth would Evaporate except for the wealth that was Stored in physical precious metals and Physical assets so I think gold is Extremely important and everyone should Own some physical gold but when it comes To paper gold or digital gold I kind of Agree with him in the sense that it's Similar to bitcoin they are both just
Numbers on a screen but I do not think That either paper gold or digital gold Whatever you want to call it or Bitcoin Are a great store of wealth because There's a lot of counterparty risk and If you ever needed to access that wealth You may not be able to however with Physical gold you can literally pick it Up hold it in your hand there's zero Counterparty risk so you're always in Control of your own wealth but the thing Is Mark Cuban has hated gold for a long Time check out this clip from 2018. I Hate gold gold is religion there's ABS There's some some fundamental value to Gold but everything else it's it's a Collectible I see gold and Bitcoin as Being the same thing well hate is a Strong word okay the miners to all of Gold the whole gold Spectrum Individually as people I've heard They're great people but As an investment okay you're right hate Is not strong enough hate with extreme Prejudice as an investor oh gosh okay so Bitcoin and gold on the same level for You both Collectibles okay the value is Based off of supply and demand and the Good news about Bitcoin is there's a Finite Supply that'll ever be created And the bad news about gold is they'll Keep on minding more do you feel the Same about silver or is there any metal You like Palladium Platinum no I think
Um I I don't know those others as well But those are pretty much based off Their intrinsic value as much as I can Tell so you're in the camp of gold as Just a pet rock pretty much pretty much So there you have it Mark Cuban is not a Fan of gold but this is not really a big Surprise there's a lot of billionaires And wealthy people out there who do not Like physical precious metals because They view them as just an object that Sits there and doesn't make them more Money they don't understand the purpose Of physical precious metals most of the Money that these wealthy people have Made has been in Fiat dollars or stocks Things like that they understand those Systems the fiat currency system that Exists right now they're very well Versed in that but gold is somewhat Arbitrary to them but if we take a step Back and think you know who is more Wealthy than a billionaire well we could Look at central banks central banks they Literally control the supply of money And they love gold they stack physical Gold they hold it on their balance sheet So if a central bank wants to stack gold Because they know that things can happen To currencies down the road well that's Good enough for me and if we ever went Through a major currency crisis you know Hyperinflation something like that well I think Mark Cuban would actually find
That a lot of his wealth could easily Evaporate a way this is a 10 trillion Dollar bill from Zimbabwe now they went Through hyperinflation and the value of Their currency plummeted now before they Went through hyperinflation if you had 10 trillion dollars you were extremely Wealthy I mean you were a trillionaire Right but after hyperinflation you could Not even buy a cup of coffee with this 10 trillion dollar bill if all of your Wealth is wrapped up in a fiat currency And the value of that currency plummets Then you have no wealth so that's why It's so important to store your wealth In alternative currencies like gold Silver have other assets right physical Things that you can hold in your hand be Like the central banks stack gold that's What I'm doing I'm not listening to Mark Cuban I'm not buying it for one second But anyway I do want to know what your Thoughts on this are feel free to leave Them down below in the comment section And I'll see you all in my next video Silver dragons out
