I’m sorry, what? Gold has value regardless of if there’s a government backing it or not. That’s the entire point of investing in it, as a buffer for when fiat loses its value.
But clearly one more than the other, aluminum is extremely useful but not very rare and is worth about $1.25 per pound, it’s price is a fraction of gold at $63,000 per pound
The value of gold lies in the fact that other men may be disposed to work their ass off in order to have some shiny things to gift to women in order to have sex. As you can imagine, the power of gold amongst married couples drastically decreases.
Besides this… History shows humans always gave value to gold. For some reason we got very used into associating gold with value. As such, it is probably something good to have if economy collapses. But it doesn’t really matter if society collapsed.
The value of gold lies in the fact that other men may be disposed to work their ass off in order to have some shiny things to gift to women in order to have sex. As you can imagine, the power of gold amongst married couples drastically decreases.
Gold is actually useful for things other than jewelry.
Gold is supposed to represent something finite that’s hard to dig out of the ground. It’s like the antithesis of fiat currency that way. i think of it like a hedge against the dollar like with some cryptos. Thatt said I only think US civilization would collapse while the rest of the world moves on or divvies up its corpse.
That is valid for many other resources: iron, silicon, carbon, carrots whatever.
Gold has always been attributed some special value, throughout history. That is ok.
I don’t think US civilization is going to collapse, why would you think that?
Gold has always been valued because it has some important attributes that few, if any, other substances have.
It won’t tarnish or oxidize, so it will look just as shiny and beautiful a thousand years from now.
It is extremely malleable, easily crafted into any shape. It can be hammered thin enough to be a foil, or drawn into a wire as thin as a human hair.
It has a relatively low melting point, making it easy to cast.
It is extremely conductive, and is the conductive material of choice when price is no object.
There are other unique properties, but the point is that much of Gold’s value derives from being significantly, even uniquely, different from most other substances, giving it an intrinsic value beyond its monetary value.
… Which is why historically it is used as currency… kinda burying the lede there.
Bottle caps (fallout franchise), cigarettes, ramen packets (prison), sea shells (aka wampun in some Native American Cultures), salt (early scarcity) and gold are “valuable” because they are used as currency, where they are given value in excess of their actual ability to be used.
These attributes are not specific to gold alone, many other metals, jewels also share the same attributes of being able to used as currency due to their ease of division, relative scarcity and not rot aka “ability to store value” as the egg heads say.
Suffice to say, gold isn’t valuable because it is gold (I can eat a ramen packets, smoke a cigarette) it isn’t valuable because it is backed by. the government (we explicitly use it because it isn’t fiat) but rather it is valuable because IT WAS MONEY, because carrying 500 cheese wheels isn’t a thing irl.
I can point you to further reading, but just about all MacroEcon text books will cover this in the first chapter.
I was understand ALL of that, but the point is that Gold carries a significant value over and above its monetary value, and that’s part of the reason that it has remained among the most desirable, and most popular, precious metals throughout history.
How many things relevant in your life are made out of gold? I guess jewellery, computer and phone. Real things that matter to people the most are completely unrelated to gold.
The fact that it is a material that does not degrade makes it a good choice as a vector for value. It is good to be used as money for that reason. If you use iron as money it will eventually rust out and leave you broke.
The other properties of gold are quite irrelevant to the fact that it has been selected (over and over again through history) as a value vector.
Indeed, that is out of question. The matter of discussion is that the value of gold is attributed and not intrinsic, since gold does not really cover any fundamental human need.
Besides, gold is not strictly required to make computers.
I really don’t know what you’re talking about. I’m sorry, I am not American and I do not know who Bannon is.
I hope full control of the media won’t be a thing, but how is this related to gold?
Gold as a unit of currency is only about 2500 years old. Prior to that it was used heavily in jewelry and adornments. Probably because it’s not good for much else and it happens to be fantastic as a jewelry material. It’s shiney, doesn’t tarnish, and is easy to work with hand tools.
The association with wealth probably came about as a result of being associated with expensive jewelry.
To be clear, modern historians do not look for piles of gold to determine relatively how wealthy a society was. They look at their ability to produce grain and other things that facilitated trade. Because gold is only valuable as a mechanism to facilitate trade. To a civilization more worried about feeding itself than foreign luxuries, it’s quite worthless.
The very article linked to this post talks about civilizational collapse of the US similar to the Roman republic.
Turchin doesn’t track gold but he does track political and societal instability. He believes America has entered what he calls a “revolutionary situation,” where long-running systemic stress can no longer be contained. “It’s not a prophecy,” he said. “It’s modeling feedback loops that repeat with alarming regularity.”
Jup, many drugs have a market price similar to gold, so better invest into that, they can always be sold…
(Di$claimer: The information provided is for general informational purposes only and does not constitute investment advice or advising on drug trafficking. No guarantee is given regarding the accuracy, completeness, or timeliness of the content. Any investment decisions are made at your own risk. The author assumes no liability for financial losses or other damages resulting from the use of this information.)
That’s the general idea, yeah. But gold investments are just a kind of construct where you legally own a certain amount of gold. Wether anyone respects your right of ownership when civilization collapses… we’ll see about that.
It’s more for when things have settled down a bit. Imagine you’re leading a group of people who secured a good territory and you’re growing more potatoes than you need. You may want jewelry made of gold to show how powerful and prosperous you are, both to your followers and to those outside. And you can give gold to particularily important followers, and to other leaders, in a very public ceremony, to show everyone that those leaders are beneath you.
I think people forget that gold is incredibly useful especially as a conductor. It’s not just for making pretty rings, our modern world as we know it would not exist without gold!
Yes, the issue with that though is it is used in very advanced conductors. The kind of conductors that can only be produced in advanced factories by advanced large societies. If a collapse actually happened how do you fancy that factory works exactly? You gonna run a conductor factory to sell those conductors to who exactly? The potato farmer you are trying to convince to give you potatoes for that very same gold?
Low grade electronics that would be valuable in even a simpler smaller community like basic generators and light bulbs use exactly zero gold. Copper on the other hand is needed for almost all of that
Lots of things are conductors. That gives gold some inherent value, yes, but there are probably dozens of materials that are more useful and thus more valuable.
What uses gold when you’re buying/selling potatoes, nobody will think gold is worth anything if society has collapsed it’s just a useless hunk of metal
He means regular money would be worthless as well as stocks and such. And as rich people own gold, but own much more of the other, he argues they would like to avoid collapse.
However, I don’t think they really can. Also, if it comes to recession very rich people tend to profit.
I’m sorry, what? Gold has value regardless of if there’s a government backing it or not. That’s the entire point of investing in it, as a buffer for when fiat loses its value.
The fact that you are being downvoted for this is pretty shocking.
No it doesn’t. Not anymore.
Not beyond its industrial uses, at least.
That’s incorrect. Gold still has value because it has utility.
Do you think most of gold’s current trading value comes from it’s utility, or it’s rarity?
Both, if it was more common it would hold less value. If it served fewer purposes it wouldn’t remain valued.
But clearly one more than the other, aluminum is extremely useful but not very rare and is worth about $1.25 per pound, it’s price is a fraction of gold at $63,000 per pound
The value of gold lies in the fact that other men may be disposed to work their ass off in order to have some shiny things to gift to women in order to have sex. As you can imagine, the power of gold amongst married couples drastically decreases.
Besides this… History shows humans always gave value to gold. For some reason we got very used into associating gold with value. As such, it is probably something good to have if economy collapses. But it doesn’t really matter if society collapsed.
Gold is actually useful for things other than jewelry.
What other relevant uses does gold have? Which ones of those are relevant to sustaining life needs?
Gold is supposed to represent something finite that’s hard to dig out of the ground. It’s like the antithesis of fiat currency that way. i think of it like a hedge against the dollar like with some cryptos. Thatt said I only think US civilization would collapse while the rest of the world moves on or divvies up its corpse.
That is valid for many other resources: iron, silicon, carbon, carrots whatever. Gold has always been attributed some special value, throughout history. That is ok. I don’t think US civilization is going to collapse, why would you think that?
Gold has always been valued because it has some important attributes that few, if any, other substances have.
It won’t tarnish or oxidize, so it will look just as shiny and beautiful a thousand years from now.
It is extremely malleable, easily crafted into any shape. It can be hammered thin enough to be a foil, or drawn into a wire as thin as a human hair.
It has a relatively low melting point, making it easy to cast.
It is extremely conductive, and is the conductive material of choice when price is no object.
There are other unique properties, but the point is that much of Gold’s value derives from being significantly, even uniquely, different from most other substances, giving it an intrinsic value beyond its monetary value.
… Which is why historically it is used as currency… kinda burying the lede there.
Bottle caps (fallout franchise), cigarettes, ramen packets (prison), sea shells (aka wampun in some Native American Cultures), salt (early scarcity) and gold are “valuable” because they are used as currency, where they are given value in excess of their actual ability to be used.
These attributes are not specific to gold alone, many other metals, jewels also share the same attributes of being able to used as currency due to their ease of division, relative scarcity and not rot aka “ability to store value” as the egg heads say.
Suffice to say, gold isn’t valuable because it is gold (I can eat a ramen packets, smoke a cigarette) it isn’t valuable because it is backed by. the government (we explicitly use it because it isn’t fiat) but rather it is valuable because IT WAS MONEY, because carrying 500 cheese wheels isn’t a thing irl.
I can point you to further reading, but just about all MacroEcon text books will cover this in the first chapter.
I was understand ALL of that, but the point is that Gold carries a significant value over and above its monetary value, and that’s part of the reason that it has remained among the most desirable, and most popular, precious metals throughout history.
How many things relevant in your life are made out of gold? I guess jewellery, computer and phone. Real things that matter to people the most are completely unrelated to gold.
The fact that it is a material that does not degrade makes it a good choice as a vector for value. It is good to be used as money for that reason. If you use iron as money it will eventually rust out and leave you broke.
The other properties of gold are quite irrelevant to the fact that it has been selected (over and over again through history) as a value vector.
My computer and my phone are preeeeeeeeeetty important to my life, though.
Indeed, that is out of question. The matter of discussion is that the value of gold is attributed and not intrinsic, since gold does not really cover any fundamental human need. Besides, gold is not strictly required to make computers.
deleted by creator
I really don’t know what you’re talking about. I’m sorry, I am not American and I do not know who Bannon is. I hope full control of the media won’t be a thing, but how is this related to gold?
Sorry, that post was an answer to a different question. I don’t know how it dropped here.
Gold as a unit of currency is only about 2500 years old. Prior to that it was used heavily in jewelry and adornments. Probably because it’s not good for much else and it happens to be fantastic as a jewelry material. It’s shiney, doesn’t tarnish, and is easy to work with hand tools.
The association with wealth probably came about as a result of being associated with expensive jewelry.
To be clear, modern historians do not look for piles of gold to determine relatively how wealthy a society was. They look at their ability to produce grain and other things that facilitated trade. Because gold is only valuable as a mechanism to facilitate trade. To a civilization more worried about feeding itself than foreign luxuries, it’s quite worthless.
2500 years ago we didn’t have computers and cell phones. We do now, and they all use gold.
The very article linked to this post talks about civilizational collapse of the US similar to the Roman republic.
Jup, many drugs have a market price similar to gold, so better invest into that, they can always be sold…
(Di$claimer: The information provided is for general informational purposes only and does not constitute investment advice or advising on drug trafficking. No guarantee is given regarding the accuracy, completeness, or timeliness of the content. Any investment decisions are made at your own risk. The author assumes no liability for financial losses or other damages resulting from the use of this information.)
That’s the general idea, yeah. But gold investments are just a kind of construct where you legally own a certain amount of gold. Wether anyone respects your right of ownership when civilization collapses… we’ll see about that.
Brb buying bulits and grain
Now this guy has a much better idea of what’s going on.
The rest of you are kinda stupid and that also explains why you just try to fit in with the crowd.
What value? Can’t eat it, makes shitty tools. It’s shiny, but I’m not going to trade ny potatoes for shiny in a survival situation.
You can starve sitting on a pile of gold.
For gold to be valuable you still need social stability.
It’s more for when things have settled down a bit. Imagine you’re leading a group of people who secured a good territory and you’re growing more potatoes than you need. You may want jewelry made of gold to show how powerful and prosperous you are, both to your followers and to those outside. And you can give gold to particularily important followers, and to other leaders, in a very public ceremony, to show everyone that those leaders are beneath you.
Totally. I was more commenting on the theory of gold having this magical inherent objective value. Which it doesn’t, it’s a commodity like any other.
Honestly as a value store, land is probably better.
Land isn’t portable. Gold is durable, portable and compact.
Bottle caps are where it’s at.
I don’t think you understand what value means, and that’s okay.
Seems like maybe you don’t
Value is what you can get for something. If you can’t trade it for something, with anyone, it has zero value.
A dollar has value because you can trade it for a potato. In an apocalypse, you cannot trade gold for a potato if nobody wants it.
Value is a subjective thing.
And people value gold because it’s rare and inert.
Lots of things are rare. Doesn’t mean I’ll give you my potatoes for em.
At best gold becomes something desirable once there’s enough security for me to value having pretty things.
Instructions heard: Invest in seed potoatos for the spring planting.
Like I said, you don’t understand value and that’s okay.
I’m going to ignore you now because you’re annoying me with your below-average intelligence.
Oh I get it. You’re also a coward.
That’s such a psychopathic response. It is not acceptable behavior, and you won’t win any arguments that way.
Cool.
I don’t have to argue with you people.
these idiots will never get it gold is cool as hell im with you brother
Projecting much?
I guess you don’t know what projecting means, either.
You can join the other ones.
I think people forget that gold is incredibly useful especially as a conductor. It’s not just for making pretty rings, our modern world as we know it would not exist without gold!
Yes, the issue with that though is it is used in very advanced conductors. The kind of conductors that can only be produced in advanced factories by advanced large societies. If a collapse actually happened how do you fancy that factory works exactly? You gonna run a conductor factory to sell those conductors to who exactly? The potato farmer you are trying to convince to give you potatoes for that very same gold?
Low grade electronics that would be valuable in even a simpler smaller community like basic generators and light bulbs use exactly zero gold. Copper on the other hand is needed for almost all of that
Lots of things are conductors. That gives gold some inherent value, yes, but there are probably dozens of materials that are more useful and thus more valuable.
If that were true people would value me
What uses gold when you’re buying/selling potatoes, nobody will think gold is worth anything if society has collapsed it’s just a useless hunk of metal
It’s really sad seeing how collectively-stupid you people are.
I’m just glad I can see it for myself.
Lots of easy blocks tonight.
“Everyone is an idiot! The only real helicopter is me.”
Why don’t you explain it then instead of just calling people stupid?
Arguing with you people is a waste of time and energy.
When you don’t know how to win an argument so you just call everyone stupid 🤡
At least I can communicate with people without resorting to petty insults
But I like petty insults.
I’ll trade you your gold for my petty insults
I don’t think I can eat gold, no deal
Well now I’m not giving you my potatoes for your gold just out of spite.
Good idea
Yep! You can join them.
Don’t forget me dork
lol do you?
More than the average lemmyer, yeah.
X to doubt meme
He means regular money would be worthless as well as stocks and such. And as rich people own gold, but own much more of the other, he argues they would like to avoid collapse.
However, I don’t think they really can. Also, if it comes to recession very rich people tend to profit.