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.

  • nagaram@startrek.website
    6·
    2 days ago

    Societal collapse? No gold won’t save you. Tools and how to use them will.

    Maybe during hyperinflation though.

    Gods not a terrible investment but it doesn’t have a short term ROI just a REALLY long term one.

    I hate Bitcoin but its probably a better investment (and just as useful) than gold.

    I’m a fudd though and ONLY buy stable stocks that yield reliable dividends though. ETFs, S&P stuff.

    • Canaconda@lemmy.ca
      2·
      20 hours ago

      I feel like silver is a more practical apocalypse metal than gold because of its anti bacterial properties. Even if you can’t turn it into surgical tools you can use it to help preserve drinking water.