I know people out there who have invested a lot in gold under the belief that in the event of like complete societal collapse or hyperinflation, they could use it for purchasing.

I have the hunch it’s a scam, but I haven’t learned enough monetary theory, business, or economics to understand why.

  • SreudianFlip@sh.itjust.works
    2·
    2 days ago

    Gold is good as notation for big things, like an excavator and a dozen barrels of diesel. You can’t trade that shit for cucumbers and canned tuna.

    You can use gold as an excellent long lasting conductor for electric equipment. You can make it very thin. It would make a comeback in basic dentistry, as you can actually eat it: it’s non-poisonous. Doesn’t tarnish. A smith can do a lot with gold.

    Gold is a resource. That said, I don’t have any right now. Just some silver coins, and some packaged goods like knives and flour mills (business leftovers). Given the market insecurities now and gold’s all time high price, wish I did.