Reply To: ALL ABOARD THE GRAVY TRAIN-GOLD AND SILVER ARE SKYROCKETING!!!

Best Gore Forums Societally Relevant Politics ALL ABOARD THE GRAVY TRAIN-GOLD AND SILVER ARE SKYROCKETING!!! Reply To: ALL ABOARD THE GRAVY TRAIN-GOLD AND SILVER ARE SKYROCKETING!!!

#357697
Empty soul
Participant

@desp

Gold is gold. Its value is in the fact that it is a physical constant and whereas the price does go up and down it doesn’t ever hit the bottom but can and sometimes does hit the top. It is a very safe bet then for any investor and the governments of many countries buy into it because if their paper currency tanks due to recession their gold will hold its value due to being a global physical constant.

Now. Here’s the problem. Its not really a safe bet for us plebs. For example, Roosevelt in 1933 during the Great Depression basically went around confiscating everyone’s gold and forced them to take the dollar in return for it which of course massively reduced their wealth because the dollar was weak and the gold sky rocketed afterwards due to its scarcity, limited trade and other dirty tactics such as reducing the gold content of the dollar by 50%.

This is the problem with gold. Its only valuable if the fuckers in power let you keep it and they can by law take it away from you during emergency measures. For the little people there is no such thing as a safe bet unfortunately.

If it were me then and I had far more money than I do, enough to warrant shitting myself during a bank run, I would probably stick to investing in silver rather than gold due to it still being a safe bet but without the same fear of government confiscation.