Comment on Is gold investing a scam?
rc__buggy@sh.itjust.works 1 day ago
If you don’t hold it, you don’t own it.
Investing in gold someone else holds is silly. Having a few ounces stashed away is just illiquid asset that should be a hedge against inflation.
tired_n_bored@lemmy.world 1 day ago
You can have liquid, premium-free gold by buying an ETF/ETC. Whether you hold it or not is irrelevant in case of hyperinflation. Stashing it away may be useful only if you like to touch it I guess
diablexical@sh.itjust.works 1 day ago
Executive Order 6102
If it can be taken from you with the stroke of a pen, then it isn’t yours. Gold financial products are useful speculative assets but not for calamity insurance.
tired_n_bored@lemmy.world 1 day ago
ETFs may be useless in case of a calamity (in that case I’d stash bullets and canned food, not gold) but they’re useful for hyperinflation scenarios because the financial system keeps working. See Turkey and Argentina
chicken@lemmy.dbzer0.com 1 day ago
I think what they’re saying is that in a hyperinflation scenario, it is an option for the government to seize the physical gold backing the financial products people hold in order to continue paying to run the government now that fiat is worthless and they are having trouble with that.
Gold you have buried in your basement, they will have to work a little harder to get.
rc__buggy@sh.itjust.works 1 day ago
Well, you can.