physical gold will go to zero this year

[dunkin donuts]

Mark my words: anything I ever bought has gone to zero

[joswift]

Gold is only of value if you have currency, Currency collapses so does the Gold.

[SOMEPARTS]

Gold is only of value if you have currency, Currency collapses so does the Gold.

In that case gold reverts to its role as actual money for barter. Nobody wants to find out either way but trust that nobody wants your smart phone for a bag of flour in those circumstances.

[dunkin donuts]

Gold is only of value if you have currency, Currency collapses so does the Gold.

maybe i am not an expert
https://www.reuters.com/markets/commodities/ghana-working-plan-buy-oil-with-gold-rather-than-usd-vp-2022-11-24/

[Tapeworm]

Any reason beyond your losing streak?

Gold wouldn't lose its value with hyperinflation. I'd rather have it than fiat. It's just not a medium of daily exchange. You're not going to pay for a loaf of bread with it.

Gee, I hope what you bought wasn't from the Perth Mint.

[SOMEPARTS]

One can only hope there is a short period of deflation as a gold buying opportunity before a final hyperinflation. Fiat money goes to zero every time.

[dunkin donuts]

Any reason beyond your losing streak?

Gold wouldn't lose its value with hyperinflation. I'd rather have it than fiat. It's just not a medium of daily exchange. You're not going to pay for a loaf of bread with it.

Gee, I hope what you bought wasn't from the Perth Mint.

Reason? Probably fear and greed like the next guy

[dunkin donuts]

One can only hope there is a short period of deflation as a gold buying opportunity before a final hyperinflation. Fiat money goes to zero every time.

its not a buying opportunity since all my money is in gold and you need money to buy

[joswift]

In that case gold reverts to its role as actual money for barter. Nobody wants to find out either way but trust that nobody wants your smart phone for a bag of flour in those circumstances.

so its a medium of exchange?

You are aware pebbles can be used as money, why would the people who had no gold recognise gold as currency?

[joswift]

maybe i am not an expert
https://www.reuters.com/markets/commodities/ghana-working-plan-buy-oil-with-gold-rather-than-usd-vp-2022-11-24/

they need to be careful, the West hung Saddam for trading oil for Yen

[dunkin donuts]

they need to be careful, the West hung Saddam for trading oil for Yen

Very soon china will wreck usa back to the stone age

[Flexacon]

If you're in gold then you better be willing to hold for at least a few of years, probably closer to 5. Otherwise it's most likely gonna end in tears.

[Tapeworm]

It's heavily shilled on Libertarian podcasts. It kinda hurts to see a legend like Ron Paul debase himself.

[Matt]

Hasn't gold retained its relative value for over a thousand years or something?

I know the former local franchisee of Cash Money [Canadian Payday loan centre] who was close with the founder [who died suddenly in Italy while celebrating the opening of the 100th store].

Each store was bringing him a minimum of $1,000 profit per day. Likely much more.

So if he made that much cash being a "normal" person, and the Rothschilds were managing a full $1 BILLION in assets in 1850...how much money could the world's absolute richest people be making?

Is there any way to estimate that, beyond all the conspiracy theories?

[funk51]

 

    gold will always be a standard.

[Lartinos]

The price of gold goes up or down in relation to the dollar in a somewhat similar way BTC does.

If you look on a high time frame chart you can some correlation.

https://www.macrotrends.net/1335/dollar-vs-gold-comparison-last-ten-years

[SOMEPARTS]

its not a buying opportunity since all my money is in gold and you need money to buy

Gold is insurance. People without their financial house in order shouldn't buy it.

[SOMEPARTS]

The price of gold goes up or down in relation to the dollar in a somewhat similar way BTC does.

If you look on a high time frame chart you can some correlation.

https://www.macrotrends.net/1335/dollar-vs-gold-comparison-last-ten-years

Paper gold charts are about as real as BTC. Just look at the premiums on in your hand gold coins and see the disconnect between manipulated paper and physical ownership.

[SOMEPARTS]

so its a medium of exchange?

You are aware pebbles can be used as money, why would the people who had no gold recognise gold as currency?

Poor argument. Pebbles can be picked up on the ground. Gold represents energy and work as well as being materially rare and durable.

[tommywishbone]

Mark my words: anything I ever bought has gone to zero

   I know the feeling.

[wazhazbin]

the only way gold would go to zero value is if they discovered all of mount everest is made of pure gold.

or some discovery equally magnanimous

[Lartinos]

Paper gold charts are about as real as BTC. Just look at the premiums on in your hand gold coins and see the disconnect between manipulated paper and physical ownership.

I haven’t compared gold, but the silver ones are quite similar actually.

[TheShape.]

Gold is gods currency

[Matt]

How much money is the Rothschild family worth?

[joswift]

Poor argument. Pebbles can be picked up on the ground. Gold represents energy and work as well as being materially rare and durable.

Gold has value because people believe it does, its the same with cash "I promise to pay the bearer on demand the sum of xx"
Some shops these days only take card, cash is useless.

Think about it, if you had a bar of gold what would it be worth if cash didnt exist?