61–70 of 515 posts
Earlier quoted context omitted.
They don't think people in Argentina are flocking to Gold, they wrote: > and people are flocking to ... US Dollars. Not gold,
Yup, sorry, fixed. The search trends are the same for Dollar vs Bitcoin. Strongly in favor of Bitcoin.
Earlier quoted context omitted.
Physical gold might have value in situation where financial institutions and markets start to lose any trust in themselves. Either by manipulation, government confiscation or fraud. But, things will be pretty bad at that point from every viewpoint. As essentially global markets are crashing. On other hand, in even bigger crisis gold won't be that valuable at least for a while. If food and fuel are first priority peop…
I don't understand why people keep thinking that a financial meltdown means societal meltdown. There's plenty of places where the economy is or has already melted down even right now -- Sri Lanka, Argentina, Venezuela, etc. We can observe what happens when political institutions completely and utterly collapse, because it's happened multiple times already . What happens is not immediate apocalypse where people riot a…
If you think the US is at risk of collapsing however I would suggest you buy a gun before gold.
I struggle to find the value in keeping gold. You can't eat it. You can't use it as a tool. You can't even buy groceries with it (well at least today. Point is: it's not a liquidity). But yes, maybe you'll be able to make a profit in the future, by selling it to people who can't eat it or use it as a tool either. Or I guess trade it to save your life in a hypothetical future scenario. It's just a weird way of keeping…
Earlier quoted context omitted.
You can see it happening right now in Argentina: the local currency is worthless, and people are flocking to ... US Dollars. Not gold, not bitcoins, but good old benjamins. So gold isn't even a good inflation hedge: if you walked the streets of a failing economy (pick one: Argentina, Venezuela, Sri Lanka, there's plenty more) and tried to exchange gold for goods, you're not gonna get far (and will probably get mugged…
Why do you think that people in Argentina are flocking to Dollar and not to Bitcoin or Gold? When I look at the search trends in Argentina, I see Bitcoin in a very volatile longterm uptrend, Gold in a longterm downtrend and the Dollar being constantly a distant third: https://trends.google.de/trends/explore?date=all&geo=AR&q=go... Over the 20 years which the Peso has been devaluing, Bitcoin has outpaced the others by…
Also in Argentina it's "dólar," not "dollar": https://trends.google.com/trends/explore?date=all&geo=AR&q=g...
Earlier quoted context omitted.
I don't understand why people keep thinking that a financial meltdown means societal meltdown. There's plenty of places where the economy is or has already melted down even right now -- Sri Lanka, Argentina, Venezuela, etc. We can observe what happens when political institutions completely and utterly collapse, because it's happened multiple times already . What happens is not immediate apocalypse where people riot a…
I think that prepper scenario is way more likely in a «I got mine, screw you» society like the US. All the countries you list have their issues, but their base level of societal egalitarism is orders of magnitude higher. I would not be surprised if the US is one of the few countries to end up like Mad Max if the world order should fully collapse due to climate change or other large scale events.
I struggle to find the value in keeping gold. You can't eat it. You can't use it as a tool. You can't even buy groceries with it (well at least today. Point is: it's not a liquidity). But yes, maybe you'll be able to make a profit in the future, by selling it to people who can't eat it or use it as a tool either. Or I guess trade it to save your life in a hypothetical future scenario. It's just a weird way of keeping…
Here in Greece when people want go they'll go to a bank and buy British gold pounds ( https://en.wikipedia.org/wiki/Sovereign_(British_coin) ). I'm not sure there's a limit; you can buy as many as you want.
In Britain they're called "gold sovereigns", though I've never heard of anyone owning one — only from references in James Bond films and so on. I wasn't aware the nominal value was £1.
Earlier quoted context omitted.
I don't understand why people keep thinking that a financial meltdown means societal meltdown. There's plenty of places where the economy is or has already melted down even right now -- Sri Lanka, Argentina, Venezuela, etc. We can observe what happens when political institutions completely and utterly collapse, because it's happened multiple times already . What happens is not immediate apocalypse where people riot a…
I think that prepper scenario is way more likely in a «I got mine, screw you» society like the US. All the countries you list have their issues, but their base level of societal egalitarism is orders of magnitude higher. I would not be surprised if the US is one of the few countries to end up like Mad Max if the world order should fully collapse due to climate change or other large scale events.
US charitable giving alone suggests your view of the country as individualism run amok is likely not the whole story.
I'd love to see an economists take on the value to a consumer of holding gold in this form, at the price. Investment gold is usually kept in vault, and you trade ownership arms length. Direct gold ownership is rife with risks: fineness, substitutions and overpriced purchase. Yes, you can always sell at a mall gold trader but that's way way off market price. So it's an inflation hedge with a lot of cost and risk and d…
Before 2008 quite a few people around me were purchasing physical gold. I even know of one guy who bought 20000€ worth of gold. AFAIK none of them had any idea afterwards what to with that stuff. I assume it is rotting (or keeps on shining) in their basements and will only be touched when they die or move out.
I struggle to find the value in keeping gold. You can't eat it. You can't use it as a tool. You can't even buy groceries with it (well at least today. Point is: it's not a liquidity). But yes, maybe you'll be able to make a profit in the future, by selling it to people who can't eat it or use it as a tool either. Or I guess trade it to save your life in a hypothetical future scenario. It's just a weird way of keeping…
Buying land requires maintenance, and probably comes with some ongoing tax implications.