What about gold ?

Here are two "mainstream" views of the merits of gold:

http://online.wsj.com/article/SB10001424052748703584804576144493294520526.html

http://online.wsj.com/article/SB10001424052748703584804576144503030551000.html

These views totally miss the bigger point:
What if you were given the choice of "investing" your money to receive 5% less every year? That is, very conservatively, the rate of return offered currently in the US bond market. That is why investors favor cash, which is gold, over investments that are guaranteed to lose money.