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In this hypothetical SHFT situation where the USD is worthless... what do you imagine the world looks like? Let's say you bought an ounce of gold today for $1,

by cwhiz 6y ago

In this hypothetical SHFT situation where the USD is worthless... what do you imagine the world looks like? Let's say you bought an ounce of gold today for $1,955 and then the US economy craters and the USD is worthless. What are you going to do with that ounce of gold? Do you really think you'll be able to barter with that gold to get the rough equivalent of $2,000 in 2020 purchasing power? Or in a true SHTF situation will there even be networks available for you to trade Bitcoin? Or servers to continue to mine and process transactions? I doubt it.

eternalban 6y ago
Optimally, one would leave before S truly HTF. In that case, you would have access to your BTC elsewhere. A few decades ago, Gold sewn into clothes served the same purpose. I don't understand your money math there, btw. If 1 oz. of Gold will buy you a say tailored suit before SHTF, historically it will still buy you that suit after SHTF. That's one of the reasons there are Gold bugs (not I) out there. Conversely, your $2000.00 will buy you that suit today, but may only be enough to buy a carton of milk after SHTF.
- cwhiz 6y ago
  >If 1 oz. of Gold will buy you a say tailored suit before SHTF, historically it will still buy you that suit after SHTF. This has never really been tested, especially not after we left the gold standard. The utility value of gold has never been lower. I believe that in a situation where USD is worthless, the real world value of gold would plummet. Let us say shit has truly hit the fan. USD is completely worthless. You have a year of dehydrated food that you bought for $2,000. Would you swap that food for an ounce of gold? Me personally, no fucking way. I think gold is comically overvalued and completely detached from the reality of its worth as a shiny metal. People buy it because you can invest in gold contracts and watch your net worth tick up like it's a video game.
  - eternalban 6y ago
    Look, if SHTF and USD is no longer reserve currency, converting your USD to something like Gold/BTC before that happens, and then leaving US of A, and then using your Gold or BTC somewhere else where Gold/BTC is accepted. This should preserve the current purchasing power/value of your savings. If you stay in USA post Dollar dethronement, sure, you have a point, unless we're taking golden guns ..

by cwhiz 6y ago

eternalban 6y ago

Optimally, one would leave before S truly HTF. In that case, you would have access to your BTC elsewhere. A few decades ago, Gold sewn into clothes served the same purpose. I don't understand your money math there, btw. If 1 oz. of Gold will buy you a say tailored suit before SHTF, historically it will still buy you that suit after SHTF. That's one of the reasons there are Gold bugs (not I) out there. Conversely, your $2000.00 will buy you that suit today, but may only be enough to buy a carton of milk after SHTF.

cwhiz 6y ago
>If 1 oz. of Gold will buy you a say tailored suit before SHTF, historically it will still buy you that suit after SHTF. This has never really been tested, especially not after we left the gold standard. The utility value of gold has never been lower. I believe that in a situation where USD is worthless, the real world value of gold would plummet. Let us say shit has truly hit the fan. USD is completely worthless. You have a year of dehydrated food that you bought for $2,000. Would you swap that food for an ounce of gold? Me personally, no fucking way. I think gold is comically overvalued and completely detached from the reality of its worth as a shiny metal. People buy it because you can invest in gold contracts and watch your net worth tick up like it's a video game.
- eternalban 6y ago
  Look, if SHTF and USD is no longer reserve currency, converting your USD to something like Gold/BTC before that happens, and then leaving US of A, and then using your Gold or BTC somewhere else where Gold/BTC is accepted. This should preserve the current purchasing power/value of your savings. If you stay in USA post Dollar dethronement, sure, you have a point, unless we're taking golden guns ..