I know people out there who have invested a lot in gold under the belief that in the event of like complete societal collapse or hyperinflation, they could use it for purchasing.
I have the hunch it’s a scam, but I haven’t learned enough monetary theory, business, or economics to understand why.
Pretty much. Gold is a time-tested store of value. But it is not a solid investment. (stores of value and investments are not the same thing)