I plan on posting my thoughts on the case against gold in the next month or so. I realize that there are a lot of reasons to be concerned about the value of the US dollar... but that doesn't necessarily point to gold as the solution. Inflation is cited as a major concern, but last time I checked, even the experts were conflicted on whether we're facing inflation or deflation, and the TIPS spread isn't abnormal. Even in the best case scenario for gold, where we have commodity inflation and asset/consumer goods deflation, I don't understand why gold is a better choice than owning shares in an oil/gas producer. The intrinsic value of gold is 0. You only buy it to sell to someone else at a higher price. The intrinsic value of oil is the ability to produce gasoline which gets you from point a to point b. And if the commercials I see on TV touting gold as an investment aren't proof that gold is in a bubble (or heading towards one), I don't know what is. That being said, many of the smartest investors are buying gold. It's hard for me to tell Einhorn he's wrong. Fortunately I have Buffett on my side. Here's a link to an interview with Peter Schiff hitting points on both sides of the argument.