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The problem with gold in times of turmoil basically boils down to you saying "here's (insert weight) of gold that I'll use to pay for this", and the person you'
by ubernostrum 15y ago
The problem with gold in times of turmoil basically boils down to you saying "here's (insert weight) of gold that I'll use to pay for this", and the person you're dealing with saying "yeah, and I'm the Queen of England".
Without some sort of neutral respected authority to assay and say "yup, it's gold", you just have shiny pebbles and/or dust. And when everything around you has collapsed, reliable access to a trusted assayer may not be so... reliable.
- icefox 15y agoIt is easy for anyone to prove gold is real with an acid test. And you don't go to the grocery store with $20K of gold be it coins or chips. At most you would be carrying around gold rings which are small, something everyone has handled and knows and have a "smallish" value.
- pradocchia 15y agoNo, gold isn't for times or turmoil, it's for when things quiet down again--seed stock for rebuilding your life once stability returns.
- InclinedPlane 15y agoAnd then the guy who stocked up on ammunition instead of gold points a gun at you and says "thanks for the gold", then leaves.