Idk man… Humans like shiney baubles. Remember: Gold was a valuable commodity before we even had legit uses for it beyond decoration.
Comment on Is gold investing a scam?
meco03211@lemmy.world 1 day ago
The thing about the value of gold in a society is that it is only valued within the society. If society collapses, there will be no group or entity that could value it. You’d need to wait until people start rebuilding. But then you’d need to be in a position to shape how currency is decided on and minted. Unless you’ve kept your load of gold secret, it’ll be hard to convince people to adopt gold as a currency without starting on more even ground.
Kolanaki@pawb.social 1 day ago
meco03211@lemmy.world 1 day ago
Because it was found by people in society. It was given value within an established society. I’m not saying no one will value it. I’m saying that until there is an established society, it won’t hold value. Then if you do end up in a society, you need to sway them to adopt gold as a currency while keeping your gold stores secret.
MDCCCLV@lemmy.ca 1 day ago
It can be used for barter, gold had enough of a reputation that you can get anyone to trade you for it if they have an excess of something.
SreudianFlip@sh.itjust.works 1 day ago
To clarify, when people colloquially refer to “the collapse of society” they don’t mean that all forms of society would cease to exist, but the failure of the nation state, or possibly the international order, and the long supply chains that go with it. Etc.
So society at various scales would still exist, in overlapping ways and jurisdictions. Basic units like neighbourhoods and firefighters and towns and regions would be organizing based on the old rules and adapting. People organize well in the absence of warlords, so that and extinction events are the threats to trade.
The value of trade goods might be indeterminate if a comet wipes nearly all of us out. Otherwise, many people love to dicker and argue about the value of things, so I’m pretty confident about rare raw materials like gold having both utility value and a reasonably inflated exchange value in a prolonged regional or international crisis.
rc__buggy@sh.itjust.works 1 day ago
Ever since we found gold we have valued it. I don’t understand the position of, “Oh, no one will value it!” We love the shit and it’s a store of value. How much value is dependent.
Mesophar@pawb.social 1 day ago
You can’t eat gold, and you can only trade gold for food if that person can trade the gold for something else. I’m not going to say there’s no chance of gold being valuable in a societal collapse scenario, but I’d rather wager with resources than a pretty, shiny metal. I don’t see how that’s a position that can’t be understood. Gold works as an intermediary exchange, but direct barter can always be counted on.
SreudianFlip@sh.itjust.works 1 day 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.
rc__buggy@sh.itjust.works 21 hours ago
Yeah, I know. I have what many would consider an absurd amount of rice and beans and salt so it makes sense to store something that won’t go bad. Gold never spoils. Never.
meco03211@lemmy.world 1 day ago
Because it was found by people in society. It was given value within an established society. I’m not saying no one will value it. I’m saying that until there is an established society, it won’t hold value. Then if you do end up in a society, you need to sway them to adopt gold as a currency while keeping your gold stores secret.
rc__buggy@sh.itjust.works 21 hours ago
I disagree. look at the failed states right now. USD and precious metals are the most valued means of trade.