You are viewing a single comment's thread. View all
-1
Fabius on scored.co
1 year ago-1 points(+0/-0/-1Score on mirror)
You can dig up more of it.
Gold is basically infinite. It's not a store of wealth because of its rarity, it's a store of wealth because it's metal (doesn't decay), and fungible.
The price of gold is based on market forces and nothing else. When gold is expensive, they dig up more of it and it becomes less expensive. When it's cheap, they don't dig it up, limiting it's supply. It's all manipulated.
If we "lose electricity", gold is not going to save you. It's not a currency either. It's a store of wealth and requires basic civilization to hold value. This is why the natives didn't place much value on it. They much rather would have beads, whiskey, ammo, and textiles. The same will be true in any collapse. I'll be richer than you with ammo, salt, and bic lighters than you will with your "gold".
Gold is basically infinite. It's not a store of wealth because of its rarity, it's a store of wealth because it's metal (doesn't decay), and fungible.
The price of gold is based on market forces and nothing else. When gold is expensive, they dig up more of it and it becomes less expensive. When it's cheap, they don't dig it up, limiting it's supply. It's all manipulated.
If we "lose electricity", gold is not going to save you. It's not a currency either. It's a store of wealth and requires basic civilization to hold value. This is why the natives didn't place much value on it. They much rather would have beads, whiskey, ammo, and textiles. The same will be true in any collapse. I'll be richer than you with ammo, salt, and bic lighters than you will with your "gold".