I know people out there who have invested a lot in gold under the belief that in the event of like complete societal collapse or hyperinflation, they could use it for purchasing.

I have the hunch it's a scam, but I haven't learned enough monetary theory, business, or economics to understand why.

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[–] 13 points 11 months ago (1 child)

Yeah, it really depends on the nature of the societal collapse.

I can imagine situations in which being able to press a gold necklace into the right palm might get you out of a tricky situation.

On the other hand it's hard to imagine a situation where a horde of gold bullion in your safe at home would be very helpful.

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  • [–] 3 points 11 months ago

    I remember reading an article interviewing a man who lived through the early aughts Argentine Great Depression and he said the best horde of value was cheap diamond rings. You could trade one for a handgun, a couple of bags of groceries, even a motorcycle. He said they were even better than krugerrands. Something about how people trusted someone whose trading a family ring more then some profiteer.

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