Comment on Is gold investing a scam?
Treczoks@lemmy.world 5 days ago
If you invest in gold that is not physically in your posession, then yes.
If society breaks down, who is going to honor that piece of paper that claims you own gold in some banks vault? You don’t even know where that gold actually is…
Corkyskog@sh.itjust.works 4 days ago
I am not sure how useful owning the actual precious metals would be in a societal collapse. It’s going to lose value quickly. It would take probably 5-10 years before some rich rober baron decides to make a market for it where it gets a decent trade value again. An Oz of gold is going to mean a lot less to me than box of bullets or some chickens, unless I can find someone to give me a ton of that stuff in trade before my family starves I am going to take the chickens.
Much more useful in a hyper inflation scenario.
Treczoks@lemmy.world 4 days ago
In a societal collapse, it will be rather worthless, yes. But in an economic collapse, it probably retains more value than paper money or stock options. Property, of course, is premium. If you can uphold claims to it…
vaultdweller013@sh.itjust.works 4 days ago
Also a in a societal collapse markets will reestablish themselves relatively quickly so if you have a trade good like gold, copper, or silver you could probably use it as a solid liquid asset. Mind you I’d say a 1-2 year minimum for markets to reestablish themselves so you have to survive that first. Also you will be at the mercy of the merchants and tradesmen regardless.