Comment on Is gold investing a scam?

• 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.

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  • 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

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    • chicken@lemmy.dbzer0.com ⁨23⁩ ⁨hours⁩ 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.

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      • tired_n_bored@lemmy.world ⁨22⁩ ⁨hours⁩ ago

        I understand but inflation is actually good for the debt of governments since there’s a surplus of money (they pay on the nominal value) so it’s unlikely they’d have to scrap personal gold in order to function.

        Anyway that’s just my two cents and I may be totally wrong. I’m not an economist

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• rc__buggy@sh.itjust.works ⁨1⁩ ⁨day⁩ ago

  Well, you can.

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