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Basically, the chemical composition of the earth's crust isn't going to change any time soon. That means that the supply of gold is going to increase only slow
by AnimalMuppet 1y ago
Basically, the chemical composition of the earth's crust isn't going to change any time soon. That means that the supply of gold is going to increase only slowly.
In contrast, Trump has been making noises about wanting to replace Powell as chair of the Fed, because Powell won't dance to Trump's tune. I do not want a world where Trump can determine (even if indirectly) the value of the dollar, or the interest rate, or anything in that vicinity.
So I trust the dollar a lot less than I did six months ago. In contrast, gold doesn't care what Trump's policy is.
- floxy 1y ago>That means that the supply of gold is going to increase only slowly. https://www.space.com/astronomy/earth/earths-next-mini-moon-could-create-a-gold-rush-for-asteroid-miners https://www.space.com/astronomy/earth/earths-next-mini-moon-...
- mrguyorama 1y agoThe problem with this is that if you live in the US and Trump does something that stupid then owning a bunch of gold will not save you, because you still live in this society (assuming you live in the US of course!) All the Germans who had great gold reserves in 1930 still ended up fighting in WW2. Hell, many of them were Jewish and had that gold stolen and sent to the Swiss for safekeeping by the Nazi state. The danger to their society was not hyperinflation, it was a hostile government sending them to die for stupid reasons, and literally like a hundred people, or fewer, choosing out of utter stupidity and an insane ideology based purely on ignorance, forcing everyone into a bad situation. There is no safety, of any kind, under authoritarianism. Gold will not save you.
- AnimalMuppet 1y agoWell, it will save you from inflation. From bullets? Not so much.