481–490 of 515 posts
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The government can do whatever it wants as long as they pass a law and you respect it.
The government has armies so not respecting whatever laws they pass is hard and potentially deadly. In some cases it is worth it, but typically people are better off respecting whatever laws that are put in place.
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When I looked into this, the consensus seemed to be that the best form of gold, if you want to physically hold it yourself, is gold coins minted by reputable national mints. American Gold Eagles, South Africa Krugerrands, etc. These trade at close to spot. And a 1 oz Krugerrand or Gold Eagle is about $20,000. If you can afford enough volume of those that it’s difficult to secure them, you can afford to secure them.
It's $2,000, not $20,0000 (I assume USD). Gold coins are pretty easy to come by in my experience.
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These aren't really "bars" like ingots. Trading sealed packages of 1oz gold tabs is probably better than trying to trade gold coins of unverified composition/weight.
It's actually better to trade coins which are easily verifiable in weight and size than bars that you can't measure (size or weight) because they are in packages.
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The pound wasn’t really displaced peacefully (WWII being rather the polar opposite of peace), even though the replacement happened to be from a friendly power.
Compared to > "society will have broken down far enough that even the gold will be relatively worthless and the predominant goods of choice will be cans of dog food and beans. it absolutely was peaceful, especially in those two countries.
Again, yes, it was peaceful BETWEEN the US ans UK, but your thesis that the primary global currency can collapse peacefully without a catastrophic global crisis is... well, picking the transition of the Pound to make that point is not a choice I would have gone with.
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Sri Lankan here. I personally experienced this last year and was very surprised. We Sri Lankans love to criticise ourselves for our wonky moral compasses, so when the early protests started, I stocked up on food and installed an extra CCTV camera, expecting widespread riots and looting. They never came. There were many organised protests, and protesters did clash with riot police around government buildings, but peop…
How is the situation currently in Sri Lanka? I'm considering going there for a vacations.
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> why people become so paranoid about the value of the dollar when it’s proven to be so incredibly stable Every fiat currency that ever existed collapsed at some point. > Gold is not money. It’s never going to be money again. So why care? Gold survived all of them. It’s still being used as a financial instrument, after thousands of years, countless wars, changes of government, complete societal collapse and reorganiz…
Gold as a long term bet: https://www.reddit.com/r/FluentInFinance/comments/16upmcj/go...
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Did the same with those $1 US coins when the mint was allowing you to purchase them for $1 free shipping. We would get as much as possible and then turn around and deposit into the bank.
why would you pay $1 each for $1 coins and turn around and put that in the bank? I mean what's the purpose? I could see if you were keeping them as collectors items that might be worth more in the future, but once dropped in the bank you're back to where you started??
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Did the same with those $1 US coins when the mint was allowing you to purchase them for $1 free shipping. We would get as much as possible and then turn around and deposit into the bank.
why would you pay $1 each for $1 coins and turn around and put that in the bank? I mean what's the purpose? I could see if you were keeping them as collectors items that might be worth more in the future, but once dropped in the bank you're back to where you started??
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The government is not supposed to be in the favoritism business. When that happens, as we're seeing, there are unexpected and/or unwanted consequences. The government is supposed to level the playing field, not the other way around.
How does the government favoritize Costco? Technology and economies of scale favor Costco, and Walmart and etc. And people obviously like the low prices due to the economies of scale.
Regulation. Be it local, state and/or federal. The larger the organization, the more resources it has to mitigate / remedy such friction.
The irony? Regulation is also self-serving to gov in the sense it perpetuates ththe gov's need to prove it needs to exit, "create more jobs", etc. But that's another discussion for another day.
Two, lack of national *affordable* universal healthcare. Again, larger companies are better able to fill this gap, offer the benefit, and thus draw better employees, etc.