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.

  • Retro_unlimited@lemmy.world
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    5 days ago

    I bought some gold a few years ago, the price has gone up quite a lot since. I invested in small little pieces recovered from a lake somewhere. I figured it’s easier to barter with a tiny piece than a huge coin or bar of gold. It’s only a small part of my portfolio. I decided to invest in a mix of stuff, as you never really know the future. A little bit of cryptos, gold, silver, bullets, canned foods, solar panels, batteries, rain catchment and containers, etc. I also worked on my survival skills, tool skills, crafting skills, etc. it’s a huge way to barter with people when you have skills they need. The biggest thing I invested in is raw land in the middle of nowhere. The land has an RV and working on systems to gather water, power, etc. 99% of the stuff will be solar powered, but we do have a diesel heater, it doesn’t use much fuel as we only use it when it’s really cold.

    I think gold is just one of the many things needed to survive if things collapsed. If it’s even needed. It’s just one of those things that makes me feel better as an insurance / just in case. But I feel the other things I have done will make a bigger difference if it ever comes down to it.