Holy cow.
“The fall of Rome, Spain’s imperial decline, the French Revolution, the end of Bretton Woods [the 1944 agreement establishing today’s international monetary system]… this is effectively a transfer of real wealth from the poor to the rich elites who protect themselves with gold,” Bertrand wrote. “We’re witnessing what may be one of the great pivotal moments in financial history yet it’s being barely discussed.”
It’ll never get old to me that the Uber wealthy know money is only valuable because everyone agrees it is. And when they accumulate too much, everyone else stops caring about it make Ng it worthless…
And their response is always to hoard a different thing that is mostly valuable only because people all agree it is.
Like, gold does have some actual uses, but none of this is being used for that. Just hoarded because people think others want it.
But shit gets bad enough, it’s like a zombie apocalypse.
You can have all the gold in the world, doesn’t mean someone will trade even a gun with a single bullet for it.
There’s just no real way to hold onto that insane levels of wealth it inequality, because it’s totally unnatural. It’s unmaintainable, but the people who benefit will try everything to keep it.
On the other hand, it’s not like the world is ending. It’s quite frankly just the most viable alternative for whenever the global reserve currency becomes uncertain. They’re not trying to survive a literal humanity-wiping zombie virus, they’re making sure they can pay their debts when one of the world’s largest superpowers is suddenly violently swept off the map lol
And any historian or economist won’t be remotely surprised, because it quite literally happens all the time.
The imaginary money you invested in gold is worthless if civilization collapsed, so it’s in the rich person’s interests to keep things going so they can pull that investment back.
It’s more likely we are heading to another US recession, hopefully not as bad as the 1930s
If only there was a digital version of gold, that had a permanent record of everyone’s ownership right back to the first nugget of gold, that would be untouchable/secure in a collapse/near collapse scenario. Something that you could bring with you wherever you go in the world, yet no need to physically bring anything with you.
Man I would be investing in that so hard right now.
You mean Bitcoin, the imaginary thing that literally could be destroyed at any moment in time and the rich people use to manipulate their prices and game more money all the time? You mean that type of thing? Honestly gold is way better than investing in that.
Yes lol. But I’m way past the point that people’s opinions of it have any bearing on my decisions.
I’ve had this conversation a million times. You don’t understand Bitcoin, and that’s ok, I don’t mean it as an insult… it’s complicated. I can say that with 100% certainty based on your comments. This just means that there is more for me, at a cheaper price.
Yes there is manipulation going on, you’re not wrong. But where you are veering off track is where you throw out the concept because of it.
Money is manupulated. Constantly. That’s what happens with money. Bitcoin is no different.
Do you understand that Bitcoin has been around for 16 years, has never had an error or security breach (all cases of losing money are due to malicious actors or careless users), can send billions of dollars across the world for literal pennies, has over a TRILLUON dollars of market cap.
Please don’t get stuck in the early days mindset. If Bitcoin was “destroyable” it would have happened long ago, as the threat it poses to fiat based sovereign currencies is huge.
I know I’m not changing any minds, but you can’t say you didn’t have the opportunity. You’re standing in your own way.
Gold is good to invest in too now though! No shade on anyone who does that, just missing a better opportunity.
If this is really your perspective then tone down the condescension. BTC is only viable due to the poor policies of the Trump administration.
Gold has utility. BTC has no usability beyond being a cryptocurrency. I can make things with gold.
Is there any value in being the hardest form of money in existence, objectively 🧐🧐🧐
Edit: the condescension is helpful in the long run. People hate Bitcoin/hate people who invest in Bitcoin are very unlikely to invest in Bitcoin. Therefore more for me, again!
Yes, it is durable, portable and compact. We can all agree on the fact you can make things with it.
Is there any value in something that holds no real utility or real value?
That thing sounds like it needs a functioning internet and communications system. If society collapses I wouldn’t bet on the blockchain being usable.
And gold? A huge percentage of which people hold non-physically?
It’s almost like you can come up with arguments that NOTHING is safe without a functioning internet and communications system.
So…what’s the difference here?
I have gold and can transport it. We traded gold before we had an international banking structure. We don’t need electricity or the internet for the trade in gold.
Crypto has no utility. It cannot be transported as it isn’t a physical asset. It cannot be used for any other purpose eg you can’t make a hat out of BTC or ETH. Gold and crypto are not the same when it comes to their usability as a currency.
if you are a “have not” start hoarding bullets, they are really good at farming gold from the “haves”
brought to you by Big Marauder
Gold is only valuable in a society. You can’t eat it post apocalypse.
The trick there is that there’s always a new normal that comes, and that food is heavy (per value) and hard to use for hastily arranged or large purchases. It’s a decent guess that you’ll eventually be able to spend your gold coins if fiat becomes worthless.
Buy it during the apocalypse is still my personal plan, though.
