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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[–] 4 points 11 months ago (2 children)

if society does collapse, it will absolutely retain its value

Why? It's not inherently valuable beyond a handful of industrial/electronic uses. If society collapses, people are going to be trading in food, water and medicine, not worthless shiny metal.

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  • [–] 4 points 11 months ago

    Even at the basest level of society that we might fall back to, there will be a need for stores of great value in order to make larger trades. You can't effectively trade large scale without it. Which might not be relevant right after a full system failure, but definitely afterwards.

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