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Gold and silver are probably the best places to invest if you're planning for total societal collapse, but not really great vehicles to weather a recession.
by Klinky 7y ago
Gold and silver are probably the best places to invest if you're planning for total societal collapse, but not really great vehicles to weather a recession.
- Dirlewanger 7y agoVery poor choice to invest in gold if you're waiting for society to collapse. Looters won't give a shit that you have gold, they'll kill you, rape/kill your wife and children, steal whatever food/portable munitions you have, and leave the gold because it's too heavy.
- perl4ever 7y agoIt's been said before, many times, many ways, that preparing for "societal collapse" is highly dependent on what sort of collapse you expect. Right now, it kinda sorta seems a little collapsy to many people, and yet I don't think most people are anticipating that they will lose electricity, running water, heating fuel, etc. An earthquake is different from a nuclear war is different from a pandemic...
- mrnobody_67 7y agoGold was the best performing asset class the last decade.... better than the SP500
- murrayn 7y agoBut not better than bitcoin.
- OJFord 7y agoThat's like saying 'not better than being an angel investor in <a now huge company founded around 2010>' though.
- brazzy 7y agoUm... no, it wasn't?
- refurb 7y agoGold price 2010: $1650/oz Gold price 2020: $1472/oz And that's not adjusting for inflation.
- freepor 7y agoIn total societal collapse you should be investing in beans guns and water.
- Der_Einzige 7y agoDing ding ding we have a winner! Why anyone would go to gold during a societal collapse I will never know. The absolute basic necessities of survival will always be the best investments in times of crisis (right now). Don't believe me? I bet many Americans will see bankruns and possible inflation as a result of our current crisis. Money and other non material assets will become less useful. Hopefully the FDIC will save our asses but if you have more than 250K than good luck if you choose the wrong bank. That's assuming money is still worth something But rice, beans, guns and water will always be useful
- achenatx 7y agomy family used gold to escape china when the communists took over. Lots of jews used gold to escape germany. During those periods cash was not accepted. Even during the venezuela collapse gold is still good. gold is the ultimate hedge to escape conflict areas. In the future I can see crypto currency as a store of wealth for when you arrive at your destination, but gold is going to get you out
- grandridge 7y agoProbably the best answer. Gold is portable wealth outside the system though you want to take it to a better system. This time beans and bullets might be the better hedge
- daxorid 7y ago> Why anyone would go to gold during a societal collapse I will never know Depends on the type of collapse. For a localized collapse during which the rest of the world is better off, gold is great to have, as it will generally garner better purchasing power for global goods than the local currency. But yes, gold won't be particularly useful in anything resembling a global collapse.