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> Missing out on gains in every macroeconomic environment, QE, ZIRP, NIRP, rate hikes, deflation People who had 10% of their wealth in gold before 1929 only lo
by TacticalCoder 2y ago
> Missing out on gains in every macroeconomic environment, QE, ZIRP, NIRP, rate hikes, deflation
People who had 10% of their wealth in gold before 1929 only lost at most 30% of their wealth, something insane like that (losing 30% when nearly everybody loses all their savings is quite a feat).
I don't know if goldbugs and gold permabulls are literally only stockpiling gold coins and gold bars.
Actually I wouldn't be surprised if most gold permabulls only had 10% of their wealth in gold.
And if anything I've noticed when talking to people that most who like gold actually consider the USD and EUR to be toilet paper: it's not so much that they're goldbugs, but they're "anything that's not toilet paper bugs".
So from what I've seen those who bought gold overlap a lot with those who bought digital gold (aka Bitcoin).
I'm not sure who missed on gains here.
- bitmasher9 2y agoExactly, gold reduces risk in ways no other asset can. It’s a preservation of wealth tool. One thing we know about low risk investments —- they have low returns.