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.

  • Holytimes@sh.itjust.works
    3·
    2 days ago

    The amount of time it would take for a post collapse society to regain enough stability to return to metal being needed for a currency is likely longer then you would be alive to actually benefit from the investment.

    Short term only direct barter and labor will be worth anything. You only need a currency when you have a non volatile society.

    It’s why the whole post apocalyptic gold value nonsense is nonsense. You NEED an economy to make currency have value. A post collapse society has no economy.

    • MyMindIsLikeAnOcean@piefed.worldEnglish
      21·
      2 days ago

      Yeap.

      Like…depending on the nature of the collapse you might have a bunch of delusional former MAGA people in a region who all have a bunch of gold so they trade it with each other…but for the most part nobody would want it.