Gold doesn't do anything, except in some specialized applications.
Suppose you had some completely arbitrary asset. Kneezles. Over the last few years, the price of kneezles have tripled. The kneezle-bugs come out of the woodwork and say, "Look, if you had invested in a store of wealth that is not subject to inflation, you'd be doing better. Your kneezle-denominated wealth has fallen greatly."
Well, what are kneezles anyway? They're lumps of metal that don't do anything. Hey, sounds familiar...
Suppose you had some completely arbitrary asset. Kneezles. Over the last few years, the price of kneezles have tripled. The kneezle-bugs come out of the woodwork and say, "Look, if you had invested in a store of wealth that is not subject to inflation, you'd be doing better. Your kneezle-denominated wealth has fallen greatly."
Well, what are kneezles anyway? They're lumps of metal that don't do anything. Hey, sounds familiar...