Popping the Gold Bubble

Americans are stocking up on gold. But does the gold binge make any economic sense?

Reader Thomas Simpson writes to quote Warren Buffett:

You can take all of the gold that's ever been mined and fill a cube 67 feet in each direction. At current prices for gold, you could buy all of the farmland in the United States, plus 10 Exxon Mobils, plus have $1 trillion in walking around money. Or you could have a big cube of metal. Which would you take? Which will produce more value?