Posted by SeaLion
Do you think gold will ever lose value? It's been a hot commodity for centuries, but that was due to accessibility...now... you can find gold everywhere. Sure, it's expensive, and from what I've heard it's at an all time high, but do you think one day it will be as worthless as any other common metal on the market today? Or do you think it will only continue to gain value?
Posted by Nightcap-
It's already lost it's value. When adjusted for inflation, it's down 1% over the last 3 years. That's why a bunch of us said 'buy Bitcoin' as it's up 143% over the same time frame. The currency is inflating at 7% a year ( worse in most other countries), so unless you're buying scarce assets that beat that mark, you're losing money.
Posted by WarAngel79Posted by SeaLion
Do you think gold will ever lose value? It's been a hot commodity for centuries, but that was due to accessibility...now... you can find gold everywhere. Sure, it's expensive, and from what I've heard it's at an all time high, but do you think one day it will be as worthless as any other common metal on the market today? Or do you think it will only continue to gain value?
As long as society has peace, gold will have value. When everything goes to shit, only ammunition matters.click to expand
Posted by SeaLionPosted by WarAngel79Posted by SeaLion
Do you think gold will ever lose value? It's been a hot commodity for centuries, but that was due to accessibility...now... you can find gold everywhere. Sure, it's expensive, and from what I've heard it's at an all time high, but do you think one day it will be as worthless as any other common metal on the market today? Or do you think it will only continue to gain value?
As long as society has peace, gold will have value. When everything goes to shit, only ammunition matters.
Maybe gold bullets will be the new trend one day.click to expand
Posted by WarAngel79Posted by SeaLionPosted by WarAngel79Posted by SeaLionAs long as society has peace, gold will have value. When everything goes to shit, only ammunition matters.
Do you think gold will ever lose value? It's been a hot commodity for centuries, but that was due to accessibility...now... you can find gold everywhere. Sure, it's expensive, and from what I've heard it's at an all time high, but do you think one day it will be as worthless as any other common metal on the market today? Or do you think it will only continue to gain value?
Maybe gold bullets will be the new trend one day.
click to expand
Since they have the density of lead, I would agree.click to expand
Posted by SeaLionPosted by Nightcap-
It's already lost it's value. When adjusted for inflation, it's down 1% over the last 3 years. That's why a bunch of us said 'buy Bitcoin' as it's up 143% over the same time frame. The currency is inflating at 7% a year ( worse in most other countries), so unless you're buying scarce assets that beat that mark, you're losing money.
1% is not a huge loss. I'm not comparing it to fake money(bitcoin) I'm comparing it to other valuable metals that you can hold and touch and that will be around for centuries to come. This isn't ment to be a post about what you should and shouldn't invest in today. Obviously with any kind of assets there is going to be a Flux in value, but gold is still one of the most valuable metals around and has been for centuries and I'm curious if one day it will lose that status. I know there are other metals that are more valuable then gold, but gold seems to be that one metal that seems to be timeless. Will it one day be as worthless as a piece of tin?click to expand
Posted by Nightcap-Posted by SeaLionPosted by Nightcap-
It's already lost it's value. When adjusted for inflation, it's down 1% over the last 3 years. That's why a bunch of us said 'buy Bitcoin' as it's up 143% over the same time frame. The currency is inflating at 7% a year ( worse in most other countries), so unless you're buying scarce assets that beat that mark, you're losing money.
1% is not a huge loss. I'm not comparing it to fake money(bitcoin) I'm comparing it to other valuable metals that you can hold and touch and that will be around for centuries to come. This isn't ment to be a post about what you should and shouldn't invest in today. Obviously with any kind of assets there is going to be a Flux in value, but gold is still one of the most valuable metals around and has been for centuries and I'm curious if one day it will lose that status. I know there are other metals that are more valuable then gold, but gold seems to be that one metal that seems to be timeless. Will it one day be as worthless as a piece of tin?
click to expand
"Fake money." You mean the best performing asset in our lifetime that reached its all-time high yesterday? That institutions (like Blackrock and Fidelity) are buying by the billions ever since the SEC approved its ETF 38 days ago? It also passed Silver yesterday is now the 9th largest asset in the world. You need to get with the times, boomer. Gold has lost money over the last 10 years. They discover new deposits and stop mining to manipulate the market. It's also expensive to custody and transport. Gold will always be worth something but you want things that appreciate not lose value.click to expand
Posted by Saturn_Returns
During the Great Depression, the US government 'confiscated' gold from its citizens. Those who didn't sell their gold to the government faced heavy fines or ten years' imprisonment.
https://imgur.com/JSmsY6P
https://www.bullionstar.com/blogs/jp-koning/gold-confiscation-could-it-happen-again
Posted by SeaLionPosted by WarAngel79Posted by SeaLionPosted by WarAngel79Posted by SeaLionAs long as society has peace, gold will have value. When everything goes to shit, only ammunition matters.
Do you think gold will ever lose value? It's been a hot commodity for centuries, but that was due to accessibility...now... you can find gold everywhere. Sure, it's expensive, and from what I've heard it's at an all time high, but do you think one day it will be as worthless as any other common metal on the market today? Or do you think it will only continue to gain value?
Maybe gold bullets will be the new trend one day.
click to expand
Since they have the density of lead, I would agree.
If I'm going to be taken out by a bullet, it better be gold 😂click to expand
Posted by SeaLionPosted by Nightcap-
It's already lost it's value. When adjusted for inflation, it's down 1% over the last 3 years. That's why a bunch of us said 'buy Bitcoin' as it's up 143% over the same time frame. The currency is inflating at 7% a year ( worse in most other countries), so unless you're buying scarce assets that beat that mark, you're losing money.
1% is not a huge loss. I'm not comparing it to fake money(bitcoin) I'm comparing it to other valuable metals that you can hold and touch and that will be around for centuries to come. This isn't ment to be a post about what you should and shouldn't invest in today. Obviously with any kind of assets there is going to be a Flux in value, but gold is still one of the most valuable metals around and has been for centuries and I'm curious if one day it will lose that status. I know there are other metals that are more valuable then gold, but gold seems to be that one metal that seems to be timeless. Will it one day be as worthless as a piece of tin?click to expand
Posted by MyStarsShinePosted by Nightcap-Posted by SeaLionPosted by Nightcap-
It's already lost it's value. When adjusted for inflation, it's down 1% over the last 3 years. That's why a bunch of us said 'buy Bitcoin' as it's up 143% over the same time frame. The currency is inflating at 7% a year ( worse in most other countries), so unless you're buying scarce assets that beat that mark, you're losing money.
1% is not a huge loss. I'm not comparing it to fake money(bitcoin) I'm comparing it to other valuable metals that you can hold and touch and that will be around for centuries to come. This isn't ment to be a post about what you should and shouldn't invest in today. Obviously with any kind of assets there is going to be a Flux in value, but gold is still one of the most valuable metals around and has been for centuries and I'm curious if one day it will lose that status. I know there are other metals that are more valuable then gold, but gold seems to be that one metal that seems to be timeless. Will it one day be as worthless as a piece of tin?
click to expand
"Fake money." You mean the best performing asset in our lifetime that reached its all-time high yesterday? That institutions (like Blackrock and Fidelity) are buying by the billions ever since the SEC approved its ETF 38 days ago? It also passed Silver yesterday is now the 9th largest asset in the world. You need to get with the times, boomer. Gold has lost money over the last 10 years. They discover new deposits and stop mining to manipulate the market. It's also expensive to custody and transport. Gold will always be worth something but you want things that appreciate not lose value.
Hasn’t Bitcoin gone up by almost a massive 200% in a year?click to expand
Posted by Nightcap-Posted by MyStarsShinePosted by Nightcap-Posted by SeaLionPosted by Nightcap-
It's already lost it's value. When adjusted for inflation, it's down 1% over the last 3 years. That's why a bunch of us said 'buy Bitcoin' as it's up 143% over the same time frame. The currency is inflating at 7% a year ( worse in most other countries), so unless you're buying scarce assets that beat that mark, you're losing money.
1% is not a huge loss. I'm not comparing it to fake money(bitcoin) I'm comparing it to other valuable metals that you can hold and touch and that will be around for centuries to come. This isn't ment to be a post about what you should and shouldn't invest in today. Obviously with any kind of assets there is going to be a Flux in value, but gold is still one of the most valuable metals around and has been for centuries and I'm curious if one day it will lose that status. I know there are other metals that are more valuable then gold, but gold seems to be that one metal that seems to be timeless. Will it one day be as worthless as a piece of tin?
click to expand
"Fake money." You mean the best performing asset in our lifetime that reached its all-time high yesterday? That institutions (like Blackrock and Fidelity) are buying by the billions ever since the SEC approved its ETF 38 days ago? It also passed Silver yesterday is now the 9th largest asset in the world. You need to get with the times, boomer. Gold has lost money over the last 10 years. They discover new deposits and stop mining to manipulate the market. It's also expensive to custody and transport. Gold will always be worth something but you want things that appreciate not lose value.
Hasn’t Bitcoin gone up by almost a massive 200% in a year?
It was $ 15,500 at the beginning of 2023 and is now at $ 66,763. Blackrock, the world's largest asset manager and Fidelity, the world's 4th largest asset manager, are buying it by the hundreds of millions every day. Qatar has bought 3.1 billion worth in the last month. It'll be 173k at this time next year if it's only bought at 25% of the level it's being bought right now. That may be low as it's accelerating not decreasing. Set supply of 21 million vs. 300 billion in debt added every month for the world's reserve currency, the U.S. dollar..which, by the way, inflates every nation's currency more. Don't listen to me though, I'm only up 28k this week
click to expand
Posted by Nightcap-Posted by SeaLionPosted by Nightcap-
It's already lost it's value. When adjusted for inflation, it's down 1% over the last 3 years. That's why a bunch of us said 'buy Bitcoin' as it's up 143% over the same time frame. The currency is inflating at 7% a year ( worse in most other countries), so unless you're buying scarce assets that beat that mark, you're losing money.
1% is not a huge loss. I'm not comparing it to fake money(bitcoin) I'm comparing it to other valuable metals that you can hold and touch and that will be around for centuries to come. This isn't ment to be a post about what you should and shouldn't invest in today. Obviously with any kind of assets there is going to be a Flux in value, but gold is still one of the most valuable metals around and has been for centuries and I'm curious if one day it will lose that status. I know there are other metals that are more valuable then gold, but gold seems to be that one metal that seems to be timeless. Will it one day be as worthless as a piece of tin?
"Fake money." You mean the best performing asset in our lifetime that reached its all-time high yesterday? That institutions (like Blackrock and Fidelity) are buying by the billions ever since the SEC approved its ETF 38 days ago? It also passed Silver yesterday is now the 9th largest asset in the world. You need to get with the times, boomer. Gold has lost money over the last 10 years. They discover new deposits and stop mining to manipulate the market. It's also expensive to custody and transport. Gold will always be worth something but you want things that appreciate not lose value.click to expand
Posted by MyStarsShinePosted by SeaLionPosted by Nightcap-
It's already lost it's value. When adjusted for inflation, it's down 1% over the last 3 years. That's why a bunch of us said 'buy Bitcoin' as it's up 143% over the same time frame. The currency is inflating at 7% a year ( worse in most other countries), so unless you're buying scarce assets that beat that mark, you're losing money.
1% is not a huge loss. I'm not comparing it to fake money(bitcoin) I'm comparing it to other valuable metals that you can hold and touch and that will be around for centuries to come. This isn't ment to be a post about what you should and shouldn't invest in today. Obviously with any kind of assets there is going to be a Flux in value, but gold is still one of the most valuable metals around and has been for centuries and I'm curious if one day it will lose that status. I know there are other metals that are more valuable then gold, but gold seems to be that one metal that seems to be timeless. Will it one day be as worthless as a piece of tin?
Bitcoin isn’t fake
It’s made a lot of people very wealthy.click to expand
Posted by WarAngel79Posted by SeaLionPosted by WarAngel79Posted by SeaLionPosted by WarAngel79Posted by SeaLionAs long as society has peace, gold will have value. When everything goes to shit, only ammunition matters.
Do you think gold will ever lose value? It's been a hot commodity for centuries, but that was due to accessibility...now... you can find gold everywhere. Sure, it's expensive, and from what I've heard it's at an all time high, but do you think one day it will be as worthless as any other common metal on the market today? Or do you think it will only continue to gain value?
Maybe gold bullets will be the new trend one day.
click to expand
Since they have the density of lead, I would agree.
If I'm going to be taken out by a bullet, it better be gold 😂
Such a damn Leo thing to say! 🤣click to expand
Posted by SeaLionPosted by MyStarsShinePosted by SeaLionPosted by Nightcap-
It's already lost it's value. When adjusted for inflation, it's down 1% over the last 3 years. That's why a bunch of us said 'buy Bitcoin' as it's up 143% over the same time frame. The currency is inflating at 7% a year ( worse in most other countries), so unless you're buying scarce assets that beat that mark, you're losing money.
1% is not a huge loss. I'm not comparing it to fake money(bitcoin) I'm comparing it to other valuable metals that you can hold and touch and that will be around for centuries to come. This isn't ment to be a post about what you should and shouldn't invest in today. Obviously with any kind of assets there is going to be a Flux in value, but gold is still one of the most valuable metals around and has been for centuries and I'm curious if one day it will lose that status. I know there are other metals that are more valuable then gold, but gold seems to be that one metal that seems to be timeless. Will it one day be as worthless as a piece of tin?
Bitcoin isn’t fake
It’s made a lot of people very wealthy.
I know that but it won't be around forever. If society falls..computers crash.... no more bitcoin.... but gold will still be around. Money always changes. It's not stable. We still don't use money the ancient Roman's used. Those are just collector items now. But again, those are physical thing you can touch and find. Bitcoin isn't. I'm not saying bitcoin is worthless. Can we get off the bitcoin please 🙄click to expand
Posted by Bumboklaat
I don't think people value gold as much as before. But who knows maybe some future generation will bring it's value up. I still like it cause I like metals and rocks. The biggest problem is keeping it safe.
Posted by BumboklaatPosted by SeaLionPosted by Bumboklaat
I don't think people value gold as much as before. But who knows maybe some future generation will bring it's value up. I still like it cause I like metals and rocks. The biggest problem is keeping it safe.
Yeah, because it's accessible now. Before you had to go on treasure hunts to find it. Now you can just go to your local jewelery store or online. Its still expensive though for the avg person.
Yeah. I like gold. It's probably the prettiest of all metals. In short term I would definitely keep it instead of selling cause money is so volatile. If anything they could be bringing gold down temporarily to hype up other currencies.click to expand
Posted by SeaLionPosted by WarAngel79Posted by SeaLionPosted by WarAngel79Posted by SeaLionSince they have the density of lead, I would agree.Posted by WarAngel79Posted by SeaLionAs long as society has peace, gold will have value. When everything goes to shit, only ammunition matters.
Do you think gold will ever lose value? It's been a hot commodity for centuries, but that was due to accessibility...now... you can find gold everywhere. Sure, it's expensive, and from what I've heard it's at an all time high, but do you think one day it will be as worthless as any other common metal on the market today? Or do you think it will only continue to gain value?
Maybe gold bullets will be the new trend one day.
click to expand
If I'm going to be taken out by a bullet, it better be gold 😂
Such a damn Leo thing to say! 🤣
click to expand
I know...isn't it beautiful 😂click to expand
Posted by Walk_on_by
No Gold will never lose its value. Unless a giant source is discovered in the Earth's core or some shit, even then it will still be fucking expensive to extract. Bitcoin as an argument is dumb, yes it's outperforming gold right now, but gold isn't tanking it at all, it's roughly equal to the dollar and as long banks have gold it'll stay that way.
Sure it's not a good investment, hasn't been for a long time. It's goddam delicious to find some 24 carat chunks in the bottom of your pan, it's insanely beautiful infact. The stuff isn't just heavy, it reacts with the electrical magnetics if the earth in the most magical way. Humans have loved gold for hundreds of thousands of years and will continue to do so long into the future.
Posted by WarAngel79
I thought about precious metal jewelry for myself, but I'll stick to stainless steel. Gold to me is worthless because you'll never sell it to someone who will take a loss on it.
You'll NEVER get rid of it during tough times either. I'd rather invest in toilet paper, toothpaste, shampoo, bar soap, rubbing alcohol, and ammunition.
Maybe if you're fancy enough, some mid-level perfume/cologne. 🤷🏻♂️
CoVID really put things in perspective for me.
Posted by SeaLionPosted by Walk_on_by
No Gold will never lose its value. Unless a giant source is discovered in the Earth's core or some shit, even then it will still be fucking expensive to extract. Bitcoin as an argument is dumb, yes it's outperforming gold right now, but gold isn't tanking it at all, it's roughly equal to the dollar and as long banks have gold it'll stay that way.
Sure it's not a good investment, hasn't been for a long time. It's goddam delicious to find some 24 carat chunks in the bottom of your pan, it's insanely beautiful infact. The stuff isn't just heavy, it reacts with the electrical magnetics if the earth in the most magical way. Humans have loved gold for hundreds of thousands of years and will continue to do so long into the future.
Yes, thank you. I was like "why is everyone talking about bitcoin, omg" like wtf 🙃 they were totally taking this discussion in the wrong direction.
click to expand
Posted by hoeflation
It’s a dead investment
Once you buy it
It’s just there
Sits on a dresser
Hypothetically you can sell it but people are attached to their things
I have diamonds I wouldn’t mind trading to a Rolex 😅
But trading isn’t huge in my country I would just be in the losing end of that deal
Also gold quality in jewelry has declined
I guess you can buy a bar but only if you plan to make it into jewelry
I’m not the best to ask about investments
I just work with what is given to me even in gold 🤣
Posted by Soul
My biggest question is why does gold have so much value? I guess it's because it can be spread out so thin, yet particles still can't get through it. Thus making it mandatory for things like circuits and motherboards. Though it was still valuable as long as humans discovered it. My question is why? Is it because it doesn't tarnish and looks pretty? Who taught us to think that way—
Also all the philosophy aside, what would happen if we discovered a cave, mine, or even space objects that contained more gold then ever discovered on earth times 1000? Would that make gold worthless? And of so, what would happen to the world's economy?
Posted by Soul
My biggest question is why does gold have so much value? I guess it's because it can be spread out so thin, yet particles still can't get through it. Thus making it mandatory for things like circuits and motherboards. Though it was still valuable as long as humans discovered it. My question is why? Is it because it doesn't tarnish and looks pretty? Who taught us to think that way—
Also all the philosophy aside, what would happen if we discovered a cave, mine, or even space objects that contained more gold then ever discovered on earth times 1000? Would that make gold worthless? And of so, what would happen to the world's economy?
Posted by Walk_on_by
How you gonna get all that gold out of the asteroid mine? Paddle out there in your dingy and get stuck into it with your pick axe? Who's even landed on an asteroid ever? Currently it's pretty easy to get out of the ground, just have a big digger or a dredge. It's just rare as all hell. Now getting it out of a space rock is a whole different story.
You build a whole industry around getting it out don't you. That creates an economy. That generates a lot of money, now if the price of gold is going to tank it then you're not going to mine it because it's too dam expensive to do so, then it doesn't tank it does it. If people are going to go to the trouble of getting it out of space rocks, they're going to sell it as space gold and manipulate the market to make it far more expensive.
I also believe there are more esoteric things going on with gold than most people are aware of. Hence why the world's richest are obsessed with it. Finding a decent bit of it is the most amazing feeling, I can only imagine what being in a room full of it feels like.
Posted by poppyflowerPosted by WarAngel79
I thought about precious metal jewelry for myself, but I'll stick to stainless steel. Gold to me is worthless because you'll never sell it to someone who will take a loss on it.
You'll NEVER get rid of it during tough times either. I'd rather invest in toilet paper, toothpaste, shampoo, bar soap, rubbing alcohol, and ammunition.
Maybe if you're fancy enough, some mid-level perfume/cologne. 🤷🏻♂️
CoVID really put things in perspective for me.
Gold is a good hedge against inflation. The investment in gold is more about reducing the risk in a big investment loss in your investment portfolio, than trying to make a profit on the changes in the value of gold. You will be able to sell it to someone who's into investments. I know of at least one person who buys gold.
click to expand
Posted by WarAngel79Posted by Walk_on_by
How you gonna get all that gold out of the asteroid mine? Paddle out there in your dingy and get stuck into it with your pick axe? Who's even landed on an asteroid ever? Currently it's pretty easy to get out of the ground, just have a big digger or a dredge. It's just rare as all hell. Now getting it out of a space rock is a whole different story.
You build a whole industry around getting it out don't you. That creates an economy. That generates a lot of money, now if the price of gold is going to tank it then you're not going to mine it because it's too dam expensive to do so, then it doesn't tank it does it. If people are going to go to the trouble of getting it out of space rocks, they're going to sell it as space gold and manipulate the market to make it far more expensive.
I also believe there are more esoteric things going on with gold than most people are aware of. Hence why the world's richest are obsessed with it. Finding a decent bit of it is the most amazing feeling, I can only imagine what being in a room full of it feels like.
As of today, your thoughts about mining gold or any other metals out of asteroids is true. But when that day comes, and you might still be alive to see it with your own eyes, I hope you're not holding too much in your safe or safe deposit box somewhere. At some point, you should always reevaluate your holdings regardless if they are physical or manifested from electrons.click to expand
Posted by Walk_on_byPosted by WarAngel79Posted by Walk_on_by
How you gonna get all that gold out of the asteroid mine? Paddle out there in your dingy and get stuck into it with your pick axe? Who's even landed on an asteroid ever? Currently it's pretty easy to get out of the ground, just have a big digger or a dredge. It's just rare as all hell. Now getting it out of a space rock is a whole different story.
You build a whole industry around getting it out don't you. That creates an economy. That generates a lot of money, now if the price of gold is going to tank it then you're not going to mine it because it's too dam expensive to do so, then it doesn't tank it does it. If people are going to go to the trouble of getting it out of space rocks, they're going to sell it as space gold and manipulate the market to make it far more expensive.
I also believe there are more esoteric things going on with gold than most people are aware of. Hence why the world's richest are obsessed with it. Finding a decent bit of it is the most amazing feeling, I can only imagine what being in a room full of it feels like.
As of today, your thoughts about mining gold or any other metals out of asteroids is true. But when that day comes, and you might still be alive to see it with your own eyes, I hope you're not holding too much in your safe or safe deposit box somewhere. At some point, you should always reevaluate your holdings regardless if they are physical or manifested from electrons.
Lol I'd never own gold but I'd love to have a gold claim up a nice little stream some day.click to expand
Posted by Walk_on_byPosted by WarAngel79Posted by Walk_on_by
How you gonna get all that gold out of the asteroid mine? Paddle out there in your dingy and get stuck into it with your pick axe? Who's even landed on an asteroid ever? Currently it's pretty easy to get out of the ground, just have a big digger or a dredge. It's just rare as all hell. Now getting it out of a space rock is a whole different story.
You build a whole industry around getting it out don't you. That creates an economy. That generates a lot of money, now if the price of gold is going to tank it then you're not going to mine it because it's too dam expensive to do so, then it doesn't tank it does it. If people are going to go to the trouble of getting it out of space rocks, they're going to sell it as space gold and manipulate the market to make it far more expensive.
I also believe there are more esoteric things going on with gold than most people are aware of. Hence why the world's richest are obsessed with it. Finding a decent bit of it is the most amazing feeling, I can only imagine what being in a room full of it feels like.
As of today, your thoughts about mining gold or any other metals out of asteroids is true. But when that day comes, and you might still be alive to see it with your own eyes, I hope you're not holding too much in your safe or safe deposit box somewhere. At some point, you should always reevaluate your holdings regardless if they are physical or manifested from electrons.
Lol I'd never own gold but I'd love to have a gold claim up a nice little stream some day.
Mate you're a science dude you should understand that physics doesn't care, it's going to be so expensive and energy consuming to extract resources from asteroids that it might actually increase the price of the resourcesclick to expand
Posted by poppyflowerPosted by WarAngel79Posted by poppyflowerPosted by WarAngel79
I thought about precious metal jewelry for myself, but I'll stick to stainless steel. Gold to me is worthless because you'll never sell it to someone who will take a loss on it.
You'll NEVER get rid of it during tough times either. I'd rather invest in toilet paper, toothpaste, shampoo, bar soap, rubbing alcohol, and ammunition.
Maybe if you're fancy enough, some mid-level perfume/cologne. 🤷🏻♂️
CoVID really put things in perspective for me.
Gold is a good hedge against inflation. The investment in gold is more about reducing the risk in a big investment loss in your investment portfolio, than trying to make a profit on the changes in the value of gold. You will be able to sell it to someone who's into investments. I know of at least one person who buys gold.
click to expand
At least you know somebody, I don't know anybody! So the odds of you finding somebody who wants to take on whatever precious metals (tangible or otherwise) you've got, is pretty low.
But at the end of the day, an investment is an investment, but not a guarantee of anything.
It's just not what I choose to invest my time, energy, or resources in.
Nobody's gonna put "investment" and "practical" in the same sentence. 😜
Just saying gold has its use.click to expand
Posted by poppyflowerPosted by Walk_on_by
See if there is heaps of gold in asteroids and we figure it out and start getting in loads of it. The value of 1 ounce might tank it, but the industry created will generate far more wealth than the gold mining industry is currently worth. The people extracting it, building the rockets, even the people cleaning the toilets at the rocket launch site, they all make money. The cleaners and cooks at big Iron pits in Australia make more money than most gold miners did in the gold rushes of the
1800s, that's just Iron ore, not even gold.
Not too late to move to Australia....click to expand
Posted by Jumpin_Jupiter
Stupid answer and it's perfectly fine to keep strolling pass my comment. Gold standard tattoo is legit. Always will be. Got a couple of them myself. So I think gold got some valuable use. Gold always gone be standard in some form or fashion.
Posted by SeaLionPosted by Jumpin_Jupiter
Stupid answer and it's perfectly fine to keep strolling pass my comment. Gold standard tattoo is legit. Always will be. Got a couple of them myself. So I think gold got some valuable use. Gold always gone be standard in some form or fashion.
Keep talking about these tattoos but never share!click to expand
Posted by Nightcap-Posted by Saturn_Returns
During the Great Depression, the US government 'confiscated' gold from its citizens. Those who didn't sell their gold to the government faced heavy fines or ten years' imprisonment.
https://imgur.com/JSmsY6P
https://www.bullionstar.com/blogs/jp-koning/gold-confiscation-could-it-happen-again
Yep, the government can confiscate gold as well as freeze your bank account if you fall out of favor. Gold is heavily tied to the U.S. Dollar so fools are like 'it's going up!! buy gold!" while ignoring the fact that the currency is debasing at 7% per year. The U.S. has 34 trillion of debt that's going up at a rate of 1 trillion every 100 days so buying anything that's closely correlated with it is just dumb.click to expand
Posted by LostthoughtsPosted by Nightcap-Posted by Saturn_Returns
During the Great Depression, the US government 'confiscated' gold from its citizens. Those who didn't sell their gold to the government faced heavy fines or ten years' imprisonment.
https://imgur.com/JSmsY6P
https://www.bullionstar.com/blogs/jp-koning/gold-confiscation-could-it-happen-again
Yep, the government can confiscate gold as well as freeze your bank account if you fall out of favor. Gold is heavily tied to the U.S. Dollar so fools are like 'it's going up!! buy gold!" while ignoring the fact that the currency is debasing at 7% per year. The U.S. has 34 trillion of debt that's going up at a rate of 1 trillion every 100 days so buying anything that's closely correlated with it is just dumb.
Gold is not tied to the dollar in anyway other then the dollar as a currency can be used to buy gold.
Dollar hasn't been backed by gold for nearly 50 years. It's legal to own gold and gold bullion now. Your information is very very outdated.
Many countries do still back thier currency by thier gold reserves still.
Infact dollar isn't actually backed by anything. It's main value is just that it's used universally internationally...that's it.
Let that last part roll around in your head for a bit.click to expand
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