Fiat currency and even a home built with a number of different commodities and or textiles will all burn to the ground whereas gold will stand the test of time and it never tarnishes. You can fill 2 safes with $100 bills or even 500 euro bills and you can fill 2 equal safes with gold and toss two into the ocean and the other two into a home in the path of a wild fire. The home and the safe filled with money will ve worthless and after a short anmount of time the safe filled with money that sank to the depths of the ocean will be worthless as well but the two safes with golf will both withstand the extreme fire and the pressure of the ocean’s depths
exploitedamerican
joined 2 months ago
This is a room temp iq take. But whayever helps you sleep at night.
Basically you are saying the valuable metal that makes the glowing screen in your hand function and has limitless technological and industrial applications isn't worth the arbitrarily valued pieces of cotton paper we print faster than an army of rabbits shit and breed and are only deemed valuable because wealthy people who treat laborers like disposable cattle and engorge themselves on industries literally propped upon fraud tell us that those paper notes are valuable….
Sure buddy what ever you say. If i had to choose to follow “the doomsday prepper idiots” who have amassed arsenals, and stockpiles of ammunition valuable currencies that will outlive any paper fiat currency and all the other commodities needed to live or the group of people laughing at them when shit hits the fan, im definitely going to be following the former while you all shit your pants and beg the “idiot preppers” to let you followed them while you have nothing to offer of any value.
Keep trusting billionaires considering it has gone so well For us this far…..
You’re just made the <= $50/hour wage you earn is garbage compared to some kid straight out of high school at any time from $1950-1971.
Also this is fact, do the research yourself. Rich people also teach their kids that labor is far beneath them and the only jobs worth having are high paying corporate lawyer jobs and c suite executives but they aren't going to say these quiet parts out loud. Hell even their owned media outlets are all attempting to convince us that gold is not inflation proof but it is. The numbers dont lie and you dont have to have a degree in advanced trig to figure it out.
But believe what you want, its bullshit, but go ahead and believe it. The sooner everyone understands that what i am saying here is true the sooner people who keep working dead end jobs because theyve been conditioned to believe that “everyone needs to work” and have bought into the idea of individual value being tied to the labor they produce, can refuse to produce labor in a system where the effort they input far exceeds the return value they are compensated with.
All the people trying to say I am talking out of my ass sound to me like people who are supportive of capitalism and wage slavery and want people to keep on devoting their lives to earn peanuts and scraps while those who do jack squat spend more on weekend vacations than you or i could earn in a dozen consecutive lifetimes
Only large bills are worth more than gold and not by much u less were talking 200 and 500 euro notes and last time i checked if your house burns down the money is gone but the gold is still salvagable and doesnt lose any value
Lmao, would have had fuck you money unlike the results she has had giving 3 decades to employers who treat her like shit. But sure, whatever you say. Bitcoin is where it is because its the future of money. Jamie dimon and all the other fraudsters on wall street say its a ponzi scheeme and other illegitimate smears against stablecoins while they pour billions Of dollars into the development of their own block chain tech behind the scenes.
Any day now elon musk will take us to mars too….. any day now….
At the point where gold becomes an infinitely abundant resource is the point where money will loose its value and those in power will be forced to restructure society so that poverty is impossible and class does not exist. Or they will undertake this monumental effort in complete secrecy to hide the fact. This will not happen in our lifetime. Unless et/ed contact and advanced hidden tech is disclosed that is.
If you think printing money out of thin air with nothing to back its value besides petro chemicals is a good economic model you've been sleeping for the last 3+ decades.
You can only mine so much gold, money can be printed infinitely. And there will be a point, albiet far in the future, where we will have depleted natural gold reserves to the point where mining costs will far exceed the profitability. Even right now to start an industrialized gold extraction project costs over a million dollar once you figure in equipment costs and claim agreements (usually anywhere from 10-20% of total gold mined is the price to mine a claim) The fluctuation of gold price in the 1800’s was nowhere near the 8000% fluctuation we have seen in the last 54 years, from 1799 till 1971 gold price only fluctuated from $18/19 to $35 when in the 19th century did the price of gold ever increase beyond $20-22? And this was enough to cause panic back then but the ignorant masses today just keep working while rent prices mirroring the price of gold hit all time highs every subsequent month.
And treasury bonds are merely Fiat currency on steroids. Just more printed rubber money.
I think thats also a result of nixon shock policies. Namely the cutting of education funding and standards that was doubled down by Reagan under the influence of advisor Roger A Freeman who is quoted as saying that an educated proletariat was a real threat to the society they were working to create. Leftism was far more popular in the 60’s and 70’s as a result of the higher education standards we had after the end of the second world war. Then leftism was smothered in the 80’s and 90’s and now what many people consider “left” is just right leaning centrist neo liberalism. True leftism has pretty much been wiped from the chat since then.
Today education centers are just there to condition workers to be smart enough to run the machines that generate profit for those with capital but not smart enough to understand how ruthlessly exploited they are. After Reagan the working class in the US were turned into low paid service industry wage slaves almost overnight after Reagan’s cafta turned to nafta under clinton and all the high paying manufacturing jobs that gave many Americans an unprecedented amount of prosperity/ quality of life were sent to the third world so corporations could reduce labor costs by 90-95%+ all while our currency was being intentionally devalued to reduce labor costs to all the jobs that couldn’t be outsourced to the third world
Gold is considered "inflation proof" because its limited supply, unlike paper currency, tends to maintain its value even when the value of a currency decreases due to inflation, making it a popular hedge against economic instability and a declining currency; when the purchasing power of a currency drops, the price of gold rises in response to increased demand from investors seeking a stable store of value.
Key points about gold as an inflation hedge:
Scarcity Gold is a finite resource, meaning its supply cannot be easily increased, which helps maintain its value during inflationary periods when the money supply expands.
Safe Haven Asset Investors often turn to gold during times of economic uncertainty, driving up its price when other assets are losing value.
Negative Correlation with Currency Historically, gold prices tend to move inversely to the value of a currency, meaning when the dollar weakens due to inflation, gold prices typically rise.
generally, the price of gold tends to increase when the circulating currency supply increases, as a larger money supply can lead to inflation, making gold, with its limited supply, a more attractive store of value and thus driving its price higher; essentially acting as a hedge against inflation.
Key points about this relationship
Inflationary pressure When more money is circulating, it can devalue the existing currency, causing prices of goods and services to rise (inflation), which incentivizes investors to seek assets like gold that can maintain value during such periods. Fixed supply of gold
Unlike fiat currencies which can be printed by central banks, the supply of gold is limited, making it a valuable asset in times of economic uncertainty.
Market psychology Investor perception plays a role, as many view gold as a safe haven asset, leading to increased demand when the broader market experiences instability.
Here are some more tidbits that paint a more full picture
https://www.reuters.com/plus/beyond-cpi-gold-as-a-strategic-inflation-hedge
Bitcoin definitely was the better buy. Gold really is not a good investment. Its value doesn't exponentially increase. Its not a speculative asset. Gold only maintains its value. So you ensured you didnt loose value, you just protected your wealth. But if you bought bitcoin you would have multiplied your wealth by 3500% i told my family to buy bitcoin at the outset of the pandemic when it was around $3000 or so. I told my mother to empty her 401k/IRA take the tax hit and buy bitcoin. i was pretty much laughed at. But now i bring it up all the time and I laugh about it. I didn’t have the money to do it myself since i live in abject poverty but i still saw what was coming a mile away. Bitcoin is ultimately the future of money. Banks already digitized currency decades ago and the numbers on the screen that represent your bank account have no concrete backing. It’s just as funny as funny money can get. Whereas bitcoin and legitimate cryptocurrencies have blackchain/ distributed ledger technology(it was designed to be a peer to peer distributed decentralized currency/ banking system. And people like Jamie Dimon (one of the biggest fraudsters in modern times and someone who’s hands were covered in some of the most blood after the 08 collapse of MBS bonds/ the housing market) tell us that bitcoin is a ponzi scheme and is valueless meanwhile behind the scenes all these big banks are investing billions in developing their own blockchain technology which shows they are full of shit and just saying whatever they can in order to perpetuate ideas that serve to protect the financial interests of western capitalist hegemony.
I do not believe it is true that once the gold standard ended that severed the relationship between the value of gold and the value of currency. Printed paper money is valueless. The only thing that gives it value is our faith in markets and those who control them. It is merely fiat currency and its value only exists because of fiat or by decree of those in power. Since we live in a class dictatorship it is difficult for many to see this because so many are blind and continue to trust the social institutions that are actively defrauding and undermining them.
As i said above Gold was the first currency ever used. At any time in history an ounce of gold can purchase the buyer a fine set of garments (a 3 piece suit with undergarments, a button down shirt and leather shoes or a nice evening dress suitable to wear at a fancy restaurant or an upper scale wedding) one months rent for a 2 bedroom apartment in a decent area. And those who have examined the value of money back in biblical times specifically by examining the Sumerian cuneiform tablets in ancient Babylon have seem that although the weights used back then, ie; shekels and talents were widely varying that one could buy between 300-400 loaves of bread for what would be an ounce of good in today’s weights, and today if you are buying bread from a bakery it is going to be around $8 for a one pound loaf. So that means an ounce purchases 350 quality loaves of bread. But if youre ok with super low quality preservative laden dish sponge bread then you can buy over a thousand loaves but they didnt have access to industrial machinery and all the chemical additives we have today so bread made in small bakeries is the best comparison since the labor and resources required to produce are still similar some 5000+ years later bread making and the oven havent changed all that much in this time.
But ultimately gold’s value doesnt change. The value of money used to replace/ represent gold is what changes. We are currently experiencing unprecedented hyperinflation and subsequent austerity caused by 5+ decades of right wing economic policy the intentions of which are to turn the American working class into new age slaves or get conditions of the labor market as close to chattel slavery ad possible which would be the most beneficial outcome for those with capital.
That is 100% incorrect. Compared to paper and cotton gold is scarce also the diamond market is manipulated by debeers and some other players and the gold market is not the only thing limiting how much gold is available is how fast it can be mined and processed. And that is not easy tk do otherwise we would all be panning rivers for as much as possible instead of working garbage wage slave jobs
Gold was the first currency, paper currency is a replacement, up till nixon withdrew from the bretton woods agreement and then subsequent administrations made a shady dealmwith the saudis and opec to make the USD be the only currency accepted to buy crude oil which solidified in 1979 right before we printed the first trillion in 1981. But if it werent for that one strategic move which changed the playing field of currency as we know it then the us dollar would have tanked harder than the titanic and worse than it has in the last 54 years
Platinum and paladium arent gold though. You cant hammer either into paper thin layers or mold it and separate it with minimal tooling like gold. These are different metals with different properties.
But without the whole fabrication of the concept of a petro dollar then the us dollar would not be the global reserve currency today and that would have 100% been due to the fact that we ended the convertibility of paper money to gold in 1971 which was brought on by the us acquiring a massive debt before 1971 due to awful conservative policies and the countries who held this debt began trading it in for gold so the us governemnt did what they could to not loose what little they had left at the time.
If the value represented by paper currency isnt representative of golf then what does it represent besides thin air and the promise of those who regularly commit fraud with impunity?