Seriously, where do you go to liquidate gold, silver, or any other pure metal bullion?
the people selling are large companies selling at a premium. The people buying put in offers at heavy discounts. In the event of a currency collapse, nobody's going to take it over something useful like food.
what good is capital if it can't buy you anything, or if the cost of selling it is significantly higher than buying it?
Gold is a meme. Invest in property, goods, means of acquiring food, self defense, fixing existing stuff, etc. it will be much more useful during a currency collapse.
A bit late to reply, but yes. If you only stock up on gold, you’re an idiot. The point is to have all that you need stocked up, food and living wise, and have weapons, ammunition and reloading equipment, and then having precious metals like gold and silver for exchange later.
The point is simple and hasn't changed for thousands of years. If you wish to make a trade for something valuable or large in amount, trading a small silver or gold bar instead of 2000 turnips and 47 barrels of dried beans. Barter is fine for small stuff but it falls on its face when amounts start to get large.
Example, 5 years after common era failure, your tractor you've kept running on home made alcohol if gasoline or biodiesel/SVO snaps in half, you need a new one. You trade one gold bar to your neighbour, he trades you a spare tractor of his and you can fix yours or use your parts to rebuild your new one. He then trades the bar to another neighbour for 6 cows, and the bar gets moved to someone else for whatever reason. No central authority has to tell anyone what that bar is “worth”, its worth what the trade is worth to the people involved. It can later make its way to apocalyptic geeks who melt it down and use it to coat their contacts and repair electronics and keep old tech working (what you guys don’t have setups for windmills driving alternators and running water pumps for water battery storage in your end of the world plans yet?)
Gold is useful beyond jewelry and trade, its thermal conductivity is second to silver and the lack of tarnishing makes it ideal for connectors. We don’t all plan to be amish in the next incarnation of society ya know.
How is it a meme? Gold is actual money and it can act as savings or active liquid capital. It’s not hard to liquidate as of right now, which was my point. Will it ever be hard? Probably, but you can still own it and use it as collateral. You can buy pre-33 gold that survived the gold confiscation act in the US, so outlawing it doesn’t work. Also, the cost of selling it isn’t necessarily higher than buying it depending on when you bought it originally. If you want to survive a currency collapse, you should be looking at silver, not gold.
Yeah it's not necessarily a doomsday prep more of an inflation hedge. Circulated silver is something I've seen recommended for those scenarios. Of course brass and lead might be better...
When the currency collapsed in Argentina, silver or American dollars were what people traded.
Unless it's in your hand, it's not worth what you think it is.
Src/https://www.walmart.com/ip/1-oz-Gold-Bar-Argor-Heraeus-9999-Fine-In-Assay/2931757239
Seriously, where do you go to liquidate gold, silver, or any other pure metal bullion?
the people selling are large companies selling at a premium. The people buying put in offers at heavy discounts. In the event of a currency collapse, nobody's going to take it over something useful like food.
Why would you liquidate it?
I guess to answer your question, at least currently, you can liquidate it into fiat at any coin dealer, Reddit, faceboob, etc.
what good is capital if it can't buy you anything, or if the cost of selling it is significantly higher than buying it?
Gold is a meme. Invest in property, goods, means of acquiring food, self defense, fixing existing stuff, etc. it will be much more useful during a currency collapse.
A bit late to reply, but yes. If you only stock up on gold, you’re an idiot. The point is to have all that you need stocked up, food and living wise, and have weapons, ammunition and reloading equipment, and then having precious metals like gold and silver for exchange later. The point is simple and hasn't changed for thousands of years. If you wish to make a trade for something valuable or large in amount, trading a small silver or gold bar instead of 2000 turnips and 47 barrels of dried beans. Barter is fine for small stuff but it falls on its face when amounts start to get large. Example, 5 years after common era failure, your tractor you've kept running on home made alcohol if gasoline or biodiesel/SVO snaps in half, you need a new one. You trade one gold bar to your neighbour, he trades you a spare tractor of his and you can fix yours or use your parts to rebuild your new one. He then trades the bar to another neighbour for 6 cows, and the bar gets moved to someone else for whatever reason. No central authority has to tell anyone what that bar is “worth”, its worth what the trade is worth to the people involved. It can later make its way to apocalyptic geeks who melt it down and use it to coat their contacts and repair electronics and keep old tech working (what you guys don’t have setups for windmills driving alternators and running water pumps for water battery storage in your end of the world plans yet?) Gold is useful beyond jewelry and trade, its thermal conductivity is second to silver and the lack of tarnishing makes it ideal for connectors. We don’t all plan to be amish in the next incarnation of society ya know.
How is it a meme? Gold is actual money and it can act as savings or active liquid capital. It’s not hard to liquidate as of right now, which was my point. Will it ever be hard? Probably, but you can still own it and use it as collateral. You can buy pre-33 gold that survived the gold confiscation act in the US, so outlawing it doesn’t work. Also, the cost of selling it isn’t necessarily higher than buying it depending on when you bought it originally. If you want to survive a currency collapse, you should be looking at silver, not gold.
Yeah it's not necessarily a doomsday prep more of an inflation hedge. Circulated silver is something I've seen recommended for those scenarios. Of course brass and lead might be better...