We were visiting the Gold Souq…
Which is a traditional market in Dubai. Many online sites says this is a must go to place.
Choi says hell no this isn’t!
Unless you are into buying gold, why come here and feel like a damn peasant?
I also have absolutely no interest in gold.
I don’t care about gold.
Thus I spent only 15 minutes and got out of there. Not a must see in my opinion.
What the hell is the big deal with Gold anyway?
Why are people so into it?
Do you think wearing this shit looks good?
No, it does not look good.
So why, why do people like gold so much!?
Let Choi do some research for ya!
# 1 – Gold is scarce – bbc
Scarce does not mean it’s impossible to find. If it’s impossible to find then it’s rare, which you could argue would increase the value but not a lot of people would be able to have it.
Gold on the other hand, has just enough that it holds value yet enough people can purchase it.
# 2 – Gold has a low melting point – bbc
This is an important as that means gold can be turned into coins or jewelry. This versaility drives up value for gold.
# 3 – Gold is most attractive to the human eye. – hardassetalliance
In Choi’s eyes gold is damn ugly. So I will have to disagree with this point, move on and pretend I never wrong this point down.
# 4 – Asset that is not some one else’s liability – hardassetalliance
Okay! Accounting 101!
If you have an asset, you have a liability! Otherwise your damn balance sheet won’t balance.
But with gold, there is no liability attached to the gold. This also makes it valuable .
# 5 – It has history – CNN
Kings, Queens, history of mankind have all wanted gold. This has passed on down the generations where the belief is if you have a lot of gold, you are wealthy.
This is true especially with the older generation. They think by giving you gold it increases your luck and wealth.
Just write me a check next time!
It’s cool that gold is valuable.
But Choi is broke as fuck.
So after a depresssing 15 minutes of watching people buy gold, I went to the Spice Souq because that’s the only thing I can afford.
And I will end off with some words of wisdom.
Buy gold to invest.
Not to wear.
Spice Souq Pictures (also not worth visiting imo):
Written from Dubai, Sheraton Grand on April 19 2017