4 ms·
A friend of mine is buying gold. It's a mystery to me how you can sort of see that it's all going down the drain but still insist on believing that you'll be ab
by codr7 6y ago
A friend of mine is buying gold. It's a mystery to me how you can sort of see that it's all going down the drain but still insist on believing that you'll be able to sail through it by careful planning. We're all in the same boat here, and it's sinking fast. It doesn't take much of a disaster for money (and gold) to become completely worthless.
- burntoutfire 6y agoWas there ever a time in history (let's say, in the past 2000 years) when gold was worthless though? Barring from super specific events, like trying to escape from a sinking Titanic etc.
- willvarfar 6y agoJust going off on a tangent, but Vikings seemed to prefer silver to gold. It’s hard to entangle cause and effect and silver mining in the Middle East around that time, though.
- yazaddaruvala 6y agoIts not that gold is worthless, but it might be worth significantly less for you. A sovereign nation could institute a recall of gold devaluing the commodity[1]. A different sovereign nation could invade and take the gold by force. Both of which have precedent in the last 100 years. Ofcourse if you only read history from the perspective of the winners, gold is always a good long term investment. [1] https://en.wikipedia.org/wiki/Executive_Order_6102 https://en.wikipedia.org/wiki/Executive_Order_6102
- burntoutfire 6y agoThe great thing about gold is that it's easy to hide. From what I'm reading about the EO6102, most people just didn't obey it and kept the gold.
- deleted 6y ago[deleted]