I am not sure. But it seems to me that the labor involved in making the bullion could have been wasted. The gold is still for all practical purposes useless. But in fact the making of the bullion does make the gold worth more money. Theory smeary the bullion is worth whatever we can get for it practical or not.
Two guys on an island and one woman. 1 guy has gold and can make jewelry out of it. The other guy can only make a corn husk bracelet with his leftover table scraps. Which guy gets the girl do you think? Now...does gold really have no value?
Obviously, the worth is situational. If there's a nuclear holocaust and the basics are in short supply, then the basics will carry more value. If on the other hand, people are still trading for their goods, while the fiat's have collapsed, (every single one has), gold and silver are an easy means to lubricate economic activity. It is relatively light, scarce and easy to carry in your pocket. It takes work to produce it, and it has been used before. Do not discount the historical component. Human nature is difficult to change. It's much easier to carry a half ounce of gold and trade it for sacks of rice, instead of hauling in your sacks of wheat to trade.
I liked this guy better when he was doing Girls Gone Wild videos. He sells topless drunk college girls much better than he sells gold.
Tell me, are you just bitter because you are getting torn a new ass by shorting gold? Most of those morons interviewed are invested in the stock market via their 401k and/or IRAs. More than likely, most of them also have a brokerage account to buy stocks. Most of them probably bought a house because real estate is a no-risk guaranteed gain investment, some probably tried to flip.