[+]25105950?0 points2 points2 points
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Only if you price gold in the hyper inflated currency. Gold doesn’t inflate, only currencies in relation to gold. Gold is the best asset to have in a reset, in theory. The problem is no one knows what the reset will look like yet. US government confiscated gold from the people so they could reprice it. Don’t think that can happen again? Gold doesn’t bode well if can’t sell it.
[–]25106026?0 points
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Gold can be traded directly for goods or services, no need to exchange for worthless paper. And it can be done outside the financial system, just like cash. And FDR only siezed the gold that was IN THE BANK already, people still ecchanged gold with each other during those 30-40 years it was "banned." just like they still exchanged cannabis when it was illegal, or liquor when that was illegal.
[–]25106763?1 point
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Explain how this world of exchanging gold directly for goods and services outside the system makes for a better world in the future? Sounds like we just went back 200 years where the quick draw cowboy holds your gold.
The point we both make is paper is worthless. Gold is a tangible asset recognized and largely accepted around the world.
But if gold becomes illegal to hold, gold as a medium of exchange becomes less useful and near impossible as a wealth building asset.
[–] 25105950? 0 points 2 points 2 points (+2|-0) ago (edited ago)
Only if you price gold in the hyper inflated currency. Gold doesn’t inflate, only currencies in relation to gold. Gold is the best asset to have in a reset, in theory. The problem is no one knows what the reset will look like yet. US government confiscated gold from the people so they could reprice it. Don’t think that can happen again? Gold doesn’t bode well if can’t sell it.
[–] 25106026? 0 points 2 points 2 points (+2|-0) ago
Gold can be traded directly for goods or services, no need to exchange for worthless paper. And it can be done outside the financial system, just like cash. And FDR only siezed the gold that was IN THE BANK already, people still ecchanged gold with each other during those 30-40 years it was "banned." just like they still exchanged cannabis when it was illegal, or liquor when that was illegal.
[–] 25106763? 1 point -1 points 0 points (+0|-1) ago
Explain how this world of exchanging gold directly for goods and services outside the system makes for a better world in the future? Sounds like we just went back 200 years where the quick draw cowboy holds your gold.
The point we both make is paper is worthless. Gold is a tangible asset recognized and largely accepted around the world.
But if gold becomes illegal to hold, gold as a medium of exchange becomes less useful and near impossible as a wealth building asset.