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People who buy gold are silly

If gold is such a great investment why would they sell it to you?
You think that perhaps it's some mutually beneficial transaction where they want to live for today and you want to live for the future

No. Gold is only valuable as a conductor. Don't be naive

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meJess · F

Gold is valuable for more than just a conductor, it has industrial uses in addition.

It is a finite resource with clear uses, as opposed to crypto currencies or indeed the currencies of nations which can be devalued at any time.

It may not be a perfect investment but it is a rational one in inflationary times, just as any resource will be compared to holding cash.

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Jackaloftheazuresand · 26-30, M

@meJess Because of its conductivity...

I'm not sure you grasp the situation if you think the kind of weapons raiders use are "smart weapons"

meJess · F

@Jackaloftheazuresand I don’t think you grasp reality if you think house breakers will negate your need for investment for retirement

A breakdown in society on the other hand, affects all investments not just gold.

Jackaloftheazuresand · 26-30, M

@meJess gambling isn't a plan one should retire on

AuRevoir · 36-40, M

It is more valuable but if the powers that be manipulate it into never taking root into being worth value… in the long run it’ll never be what it could…

Though I think anyone investing in gold is at least more substantiated than those investing in crypto.. crypto only worked because it was an up and coming system.. which allowed for heavy fluctuations.. now everyone and their momma knows about it the same way everyone knows about Amazon etc.. it’s much harder to turn a profit when something is already big..

Jackaloftheazuresand · 26-30, M

@AuRevoir Its value relies on stability

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ViciDraco · 36-40, M

I tend to agree. Gold is fairly impractical as an investment, largely because of the people expecting a collapse.

1) If the collapse is so sudden and drastic that the government does not or cannot back fiat currency, nobody is going to want your gold. You can't eat gold. You can't heat your house with it. If the government can't manage to back currency, the situation is going to be bad enough that everyone is in survival mode.

2) If the government is at least strong enough to hack a gold- based currency, then the emergency that brought them to this huge switch is going to cause them to confiscate your gold. It's been done before it can and would be done again if needed.

Either way, your gold is not going to be of very much use to you.

TheOneyouwerewarnedabout · 46-50, MVIP

A paper credit with no backing is way more sound…

Jackaloftheazuresand · 26-30, M

@TheOneyouwerewarnedabout They are equally worthless in concept

Thevy29 · 41-45, M

It was $350, 30 years ago and now its $1,742. There is something happening there.

pianoplayingsteve · 31-35, M

@Thevy29 prices just fluctuate. Some build up to a staggeringly high price, but will drop at some point

Yaz69 · 36-40, M

Gold is the safest investment then any other investment in the world.

Jackaloftheazuresand · 26-30, M

@Yaz69 maybe the point is that kind of marketplace itself is foolish

AnneHoney · 41-45, F

How about jewelry?

Jackaloftheazuresand · 26-30, M

@AnneHoney can be manufactured, otherwise the same

pianoplayingsteve · 31-35, M

Because they are banking on market fluctuations? It might be worth x value one year and they sell it, it goes up and the buyer then sells it themselves, then it dips in value and then maybe people buy it on the cheap, then it goes up again etc?

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Jackaloftheazuresand · 26-30, M

@pianoplayingsteve who said it first?

pianoplayingsteve · 31-35, M

@Jackaloftheazuresand so that doesn’t come across as you calling me ignorant, no?

Jackaloftheazuresand · 26-30, M

@pianoplayingsteve I called you a liar if you really want to get into technicality. Ignorance is the thing you want me to believe

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