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.
And some others saw the warning signs a long while ago. I’m glad that some more of the people are finally catching up.
Welcome to the party, pals!
The thing is most of my gold (i.e. ~20% of my portfolio) is as ETFs. Good luck to me using that when civilisation collapses, if it does (I don’t think that’s happening in the shape and form as it sounds from this article). But then it was not likely at all I would be able to safeguard that in the physical gold form either in that perceived atmosphere of tyranny and mayhem, so that’s there.
One could, however, look to reduce or balance (whatever you wanna call it) USD exposure.
Exactly. If you don’t own physical gold, whatever you own is vapor on paper the second they decide it is. I’m in the same boat.
brb hoarding crazy madmax masks, clothing, and other generally postapocalyptic looking gear.
🤞
Invest in bottlecaps now, folks.
“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.
You can have all the gold in the world, doesn’t mean someone will trade even a gun with a single bullet for it.
On the other hand, there are plenty of people who wouldn’t mind giving you a single bullet for free.
Maybe even more (Shaky hands… happens all the time…)
It’s the legendary metaphor of the all powerful dragon that sits on his mountain of gold
I could see wall street and other traders trading options on the gold under the dragon because it isn’t going anywhere and it’s safe from basically everything.
That market will crash if sufficiently skilled dragon hunters show up though, better ban dragon slaying.
It’s a sign of mental illness. If I had $500 million I wouldn’t work another day in my life. You would never hear about me. I would go live somewhere quiet and have everything I could possibly want delivered to me.
To have more wealth than you could possibly spend in the rest of your miserable life, and yet so desperately desire more that you’re willing to break any moral, ethical, or legal framework in your way and make political enemies in order to do so, is a sign of a deeply disturbed individual who not only should not be in charge of anything but should probably be kept away from the general public.
If I had $500 million I wouldn’t work another day in my life. You would never hear about me. I would go live somewhere quiet and have everything I could possibly want delivered to me.
That sounds like it might drive a person crazy too. I hope that after acquiring the financial freedom to choose what to do, I’d find the motivation and energy to choose to do some actually worthwhile things with other people, just staying alert to what needs doing. I agree about these guys being mentally unwell though. They’re stuck in a rut of greed for more money and power, and they lack the perspective, imagination or capacity to appreciate life that they’d need to change course.
I feel like the gold is more for using right before the worst case scenarios, in the end, they will have enough firepower, security, and other necessary provisions. After having that, just get a big enough following of people who think you’re the ideal candidate to be seen as a king for them and that’s what the rich will become in the next theoretical cycle of civilization.
that’s what the rich will become in the next theoretical cycle of civilization.
On the surface, it sounds plausible. But if you dig into how the resources you mentioned are produced, the ones which would allow them to become kings, there’s a plot hole. The production can only be done in centralized factories where many workers labour. And the inputs for those factories are done in other factories where many workers labour. As long as such resources are required to maintain these fiefdoms, the rulers power would be constrained by labour power. And we know from history that when enough workers are out of a job, when enough live in poverty, workers organize to stop working and take over the factories. Then they start producing for themselves, instead of the rulers. Then the rulers end up with no guns or other technology needed to enforce their power. What’s worse for the prospects of the future would-be-kings, is that the theory which tells workers how to organize and what to do in such cases has been written, and tested, and it works. And so I think we’re likely gonna see more of that instead of new monarchies formed by former capitalist elites.
Right…
They’ll try to use it for “security” but the fact is that just tells the people they pay one of two things:
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There’s a bunch of gold where you work. And only you and your coworkers have guns
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There’s no more gold so you might as well leave.
There’s a pretty good show with a great premise called Billionaire’s Bunker that gives a third option, the billionaires would really hate that one, but it’s pretty good plan
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Yeah, many people, wealthy or not, do not understand what money is, or any other medium of exchange, and where their value comes from.
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.
Yes, the thing that doesn’t work in case of an internet or power outage. Yeah, that’s a good idea to use in societal collapse.
Comments like this must go so hard if you’re stupid.
Dunning-Kruger strikes again.
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?
Gold can exist physically, cryptocurrency cannot.
Just realized this is an extremely poor argument anyway…maybe “does not” instead of “cannot” will be helpful in understanding.
So it’s made of fairy dust, got it
What a wild thing to say about gold when you’re arguing in favor of cryptocurrency.
It would be wild, if that’s what actually happened
Edit: Do you have a charity picked out? Or shall I just go ahead and buy more Bitcoin?
Fairy dust, don’t be ridiculous. It’s Pixie dust.
Let me ask you this. If the hard drive that contains the private keys for your wallet is melted down to a liquid and allowed to cool, what is the value of that hard drive?
What would be the value of a gold coin given the same treatment?
I answered your question so maybe you’ll do me the honour of answering mine.
If someone breaks into your house and steals your gold coins, what value do they have to you?
If it burns down, how much will it cost to recoup all your gold back into a manageable, tradeable form?
Yes, you’re correct. A melted hard drive would not have the same value as a gold coin melted down.
What is your point?
Do most people have bars of gold sitting around? No. Do most people have gold jewelry like wedding rings and earrings and necklaces? Yes. Can those bars of gold sitting in banks be easily melted down into coins in the event of a society collapse? Yes. Can Bitcoin be usable at all without internet and power? No.
Hmmmm, so in this collapse scenario, there’s no internet or electricity, but somehow the infrastructure for melting gold, and the manufacture of things that require gold, just…keeps on ticking?
My sweet summer child. These things worked before the internet and will work without the internet.
Priceless 🤣
Umm… fire?
You think if we go back to unga bunga times we’re just going to melt down gold and start trading with each other?
That level of apocalypae and we will have way bigger and more urgent problems than trying to reimplement the gold standard in a world without electricity or internet.
Like yes, fire, yeah that’s correct it melts gold. But you really think that’s a strong argument for investing in gold over bitcoin?
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.
No they’re not the same, you’re correct. You’re totally incorrect that it has no utility. You honestly just don’t understand how it actually works. I really, strongly suggest understanding
I have spent 15 years following crypto. I promise you that I know how it works. The fact is the fanboys are the ones who are mistaken as so much of that scene is built by people who either know fuckall about currency policy or are scammers.
Just to hold you accountable, kindly give me a brief explanation of how bitcoin works. If you know how it works, you should be able to explain it, and if you use Google to explain it for you, you’ll defeat your own argument. So please, try if you don’t mind?
Objectively false
Some See Warning Signs of Civilizational Collapse
Yes. Everyone.
Whenever the pet rock starts to outperform the markets you know you’re in for a bad time.
Just late stage capitalism.
I work in the mining industry and all of my coworkers are so excited about the price of gold and other precious metals hitting record highs. They say that this will result in all of us becoming wealthy. Bless their hearts…
Their bosses, you’d think the know the difference.
You would think that but no, most of the management is the same. All are happily excited about all the things they are doing to buy. There are a handful of people who are going to be retiring within a year and they are all excited too. One of the older employees has medical issues and requires medication and within the last couple of months he has been unable to get his medication and has had a few moments where he has been hospitalized as a result. And he blames “woke” and “trans liberals” for the problems. The next 4-6 months are going to be interesting to see.
Gold is worth more for the same reason stocks are worth more.
The GOP is destroying the dollar.
*American civilisational collapse
“It’s not the house that is on fire, it’s just the kitchen”
Another kitchen will take its place; always have. Now, whether you agree or not, the next kitchen is likely to be China.
And not to completely dismiss your point, but like I said in another comment, it’s important to decouple from the kitchen that is US to minimise the consequences. I don’t want another repeat of the Roaring 20’s and the countries too economically intertwined with the US also collapsed when the Great Depression hit. One of those countries who was dragged down the worst was Germany, when American investors pulled out their investments from the country. That severe aftershock gave rise to the Nazis, and the rest is history.
Fair points
America has been the most dominant world-wide force in 6 decades. If it collapses, it’s doing a lot of damage, taking other civilizations with it.
I don’t disagree with you, that’s why it’s important for many countries to decouple to minimise the potential aftershock. The question is if politicians in respective countries have the will to do so.
Which will also hasten it’s fall.
Worst case scenario is a World War III. But the lesser worst case scenario is that the rest of the world will tie themselves to China for economic security that the US has dropped. Maybe the more ideal situation is a multipolar world but with more cooperation and getting used to without US as the major economy.
Mainland Chinese industry coupled with Russian mineral resources.
My maga mom has been trying to get me to buy silver for the last few months and I keep telling her if society ended silver isn’t gonna be worth anything. She got mad and changed the subject 😅
My slowly-unravelling Aussie brother let me in on the secret (to buy physical silver) before the weekend. I should have shorted it the second he gave me the tip
If you’d bought silver (or silver ETFs) a few months ago you would have made a whole bunch of money, and society hasn’t ended yet.
I live paycheck to paycheck so I wouldn’t have made much. A few hundred at most. The stock market is a scam for rich people to live off interest.
You cant eat metal.
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