It's just a fucking yellow metal, isn't it? Who in their right mind would invest in a yellow metal? What's the use of it? In a different course of history it could have been some other metal instead, like Iridium.
In an apocalyptic course of events, you have gold and they have shelter and food. Would they exchange their shelter and food for your yellow metal? I highly doubt. So what is up with gold reserves?
C60
That's verbatim what was posted the other day. Same OP pic, too.
>Whats the use of it?
Whatever device youre using to post on, its using that yellow metal now.
Okay, I have been wondering, imagine - we live in post - apocalyptic society. Why would you need gold? You cant make tools, armor, weapons or something. Or if you make them, they are really low quality and simple iron is better than them. Why would we need currency in say post - apocalyptic society? Then the only useful thing would be food, seeds, weapons and medicine. Not some shiny shit. And no bullshit like remaking civilisation. Why would you keep it all your life waiting for civilisation if there is no signs of one?
Yeah i know. The whole "building civilization" thing was fuckin stupid.
The point of the gold is that is a "noble metal" this mean it doesnt oxidate in contact of air or humidity, what makes it perfect for stocking without it losing its value without further procesing.
Also gold is an element, this mean there i a number limitate of gold in the earth aka you cannot create more gold out of nothing, unlike water that you pick oxigen and hidrogen and you got now more water.
This makes gold being limited, so its good for speculate, if you save your gold there are less gold for everyone else, raising its value and making yours more valuable.
According the definition of currency everyone has to give a value to make it real, so this happends with gold, its also a very good electric conductor but this is no further use, becouse so expensive.
Other metals that fits more ore less this requierements are platinium (too few to proper speculate, silver and more or less cooper)
Gold got higher hability to repeal oxidation than silver, but still silver is valuable.
So this is what makes it valuable, there is not going to be more gold created, also is very easy to melt so early civilizations could make theyre jewelry out of gold, also is shiny and people used to like shiny things.
So that is why we are using gold as a currency at the moment
ends up gold is the reason you're shitposting on the internet, so the metal has value for electronics by a huge amount now.
Because it is abundant enough to not be too rare (like Iridium) while not being as common as copper.
It wont lose its luster nor will it disappear over time due to rust or mold.
So it is the perfect constant of value.
It's rare and doesn't rust, break down or change color.
Iridium kind of requires mining asteroids...
So definitely it justifies the fact your country's entire financial reserves are a couple tons of this metal, yea.
>Who in their right mind would invest in a yellow metal?
Nobody, assuming that with "investing" you mean trying to accrue profits. There are way better options for turning a profit.
But gold is a good emergency asset. If things turn to shit and your paper money and shares turn worthless, gold will still be seen as a valuable asset.
>Would they exchange their shelter and food for your yellow metal? I highly doubt.
They surely would exchange part of the food and a place in their shelter for enough gold. Because they'd know that for that gold, they can get ammunition and booze from some other guy.
Every fucking relevant civilization on this planet eventually came up with some kind of currency, simply because it is superior to bartering.
>So definitely it justifies the fact your country's entire financial reserves are a couple tons of this metal, yea.
Gold standard it's not anymore
>t.double digit IQ moron
Try googling it you filthy subhuman.
Ok then answer me this. What if one day somewhere (say in China) they find a huge source of gold, wouldn't it fuck up the fact federal reserves of many countries are stored in gold? Or if we simply discover a better metal for the same purposes? Or we discover an easy way to make gold artificially?
Man will run to anything before finding that love and friendship is the only real valuable thing
What's in Fort Knox then?
>What's the use of it
literally anything that requires electricty could be made better with gold.
your phone, laptop, car, solar panels (the really good ones) and looooots more.
its not diamonds, old actually has a very useful purpose, but people want to fucking wear it instead forcing the price to go up.
>Iridium
For starters its not as good as of a conductor, and second, are you fucking serious?
If you replaced all the gold around you with iridium, you'd be fucking dead.
Potentially. That's one of the reasons people are curious about just how much gold China is sitting on, and noticing how it's been buying up mining operations and mineral rights.
Will the world ever get a (partial) gold backing again? That's not known, but who has the gold is a bargaining chip for the future currency regime. Where's Gaddafi's gold? Is there anything left in Ft. Knox? How much is sitting under the NY Fed? Will Germany ever get its gold back?
>how about these fantasy scenarios that are highly unlikely to happen?
Yes, in those cases it would fuck with the value of gold, but for no we have no indication that any of these scenarios might happen, so there is no point in trying to include them in the system.
Inflation nigga. Look what happened to Spain in early 16th century.
>If things turn to shit and your paper money and shares turn worthless, gold will still be seen as a valuable asset.
I don't believe this. I believe the real value is firstly in things that are needed to survive in the worst scenarios. Most importantly food, and control over food production. Then land and housing. And an army to defend it all.
How federal reserve system is still in any way connected to the metal is beyond me. Makes no sense as for me. We're not living in medieval times than we need a shiny metal that doesn't rust. We have technologies to store other metals while avoiding rust, at the very least.
Google has more answers, but the main reason it was used as currency is it does not rust or corrupt like most other metals.
Explain what? it's a reserve, do you know what reserves are for? Why do you think they use gold as a reserve?
I can't tell if you are stupid or just trolling.
There's some gold inside the PC that you used to type this OP.
>Every fucking relevant civilization on this planet eventually came up with some kind of currency, simply because it is superior to bartering.
This is the reason modern economy is so fucked. Barter should have never been abandoned. Evil elites like Rothschilds invented this whole mess with paper money and now it's all fucked up.
>I don't believe this.
Millennia of human history prove you wrong so what you believe is quite irrelevant.
By now it wouldn't even matter anymore if gold has some inherent value, it would already be seen as valuable simply due to its cultural importance throughout the millennia.
Bartering is a shit system and any civilization of relevant size eventually realized that and replaced it with a currency driven trade system.
socks are more valuable than love and friendship
>2008 GFC
>Price of gold sky rockets
Hmmm...
Put yourself in the 1400's. Black plague ravaging Europe.
Did gold have value, yes/no?
that would mean price decresing for all electronical devices except for intel based ones ^^
You said gold standard is no more, yet the country's entire reserves are exactly stored in gold. How does that not make it a standard? Yes I am stupid.
they still had societies and infrastructure.
It's not for post-apocalyptic, it's for post-petrodollar or post-fiat. If fiat collapses, we're going back to metals, and the value of the stuff you hold will increase. That's it. It's nothing you're gonna make millions off of, because you can't own a lot of a physical thing
Yet it can all be made without gold too, and it is the way it's being made now. However without food entire planet's population will go extinct in a couple months. It makes more sense to store snickers candy bars in Federal Reserve than gold.
>petrodollar
no such thing. By the time all petroleum reservers are out we will find something better than that
>fiat currency falls
Stop with this bad meme. Nuclear winter is more possible than this scenario.
It does not because your snickers candy bars are perishable goods.
All trade depends on a (local) surplus of goods. If you wanna talk about scenarios where such a surplus does not exist then your bartering system will also not work. No one is going to give you food in exchange for medicine if it means they'll starve either.
I literally picked iridium randomly. Ok let's say silver. Why are reserves not in silver? Just because gold is a tad better in some ways? Yet having ALL reserves in gold is so much risk if a huge source of it will be found somewhere. Not saying about the fact the use of gold is really limited. Gold won't feed people, won't hide you from a bomb, won't do shit. unless there is someone willing to exchange it for gold. But will there be such one if a price for it drops drastically?
>yet the country's entire reserves are exactly stored in gold
False, every country has stored foreign currency and bonds and a lot of other valuables.
>How does that not make it a standard?
It's just a SECURE way to store value because
a) its scarce
b) it's not likely to lose value anytime soon
c) it's nightly incorruptible
What do you think they should do with it? dump it in the ocean?
Silver is much more of an industrial metal than gold. It's partially a monetary metal, and a reasonable store of wealth, but it can't compete with the practicality of gold.
The value of gold is trust
>trust that it is unique
>trust that it is finite
>trust that it takes x amount to acquire y
Now you trust in American arms. I don't think the russians, chinese and co trust in American arms.
Silver tarnishes. I'm serious, this is why not silver.
Gold used to be very valuable during the dark ages because it looked really nice.
Nowadays we have shinier, cheaper alternatives but gold is still a cultural thing, a way to show your wealth and prestige, and it's rarity just makes it more alluring.
And if we manage to build 40K tier laser rifles that can be recharged by simply dropping the battery into a fire place your ammunition won't be worth shit either.
You are trying to argue based on scenarios we have no indication of ever becoming true. You can only plan around the current situation and its likely development in the future. If you try to include every single unlikely fantasy scenario you'll just get stuck in eternal stagnation because no plan will ever be good enough.
>Also gold is an element, this mean there i a number limitate of gold in the earth aka you cannot create more gold out of nothing, unlike water that you pick oxigen and hidrogen and you got now more water.
Your understanding of physics is shaky at best.
It's nearly as hard to make more hydrogen and oxygen as it is to make more gold. The difference is that we have lots of hydrogen and oxygen and very little gold. Water can be as rare and hard to find as gold under the right conditions.
>The point of the gold is that is a "noble metal" this mean it doesnt oxidate in contact of air or humidity, what makes it perfect for stocking without it losing its value without further procesing.
The processing for gold is harder in terms of chemical leeching and refining than it is to make stainless steel which is also highly resistant to oxidation. To name a single metal that meets the same standard.
>So that is why we are using gold as a currency at the moment
No one uses gold as currency at the moment.
why is gold so practical? just because you can store it for hundreds of years and it wont move?
Ok I see it was used as a currency 1000 years ago. Ok. I know that. OKAY. Why do we need 100 tons of it stored in Fed, and have reserve system revolving around it in year two thousand fucking seventeen AD.
>Yet having ALL reserves in gold is so much risk if a huge source of it will be found somewhere
Also, the Gold standard was abandoned because there is not enough gold in the world to represent the current wealth of a nation. That statement is so Ignorant it hurts.
I don't think that speculating on living in a post-apocalyptic wasteland is a wise basis for investments.
That. Also it's comparatively less used for industrial purposes, meaning its value is less related to industrial demand. And an oz of gold is typically something up like 100x more valuable than an oz of silver giver or take, so you can store more value in a smaller area.
Do you want to drag around 500oz of silver in you backpack? Or tuck 5 1oz gold coins in your pocket?
Ok so? There is some DMT floating in my (and your) brains naturally too. I suggest we convert Fed reserve to a DMT storage. BTW it doesn't rust.
Diamonds have an even higher value to mass ratio than gold.
>And an oz of gold is typically something up like 100x more valuable than an oz of silver giver or take, so you can store more value in a smaller area.
Another relevant point.
When the central bank in Europe wanted to flood the market with cheap money to jump-start the economy again they ran into the problem that the banks just kept hoarding it. Since negative interests would have led to a huge uproar, they just started abolishing the 500€ bill. Now instead of storing one 500€ bill, you needed 2 200€ and 1 100€ bill. That increased the costs of storage by a factor of 2.5 and put a serious pressure on the banks to not just let the money lie around.
Just as an example of why the "wealth density" matters.
When the 80486 came out, it was worth more than its weight in gold. But now it's trash. Diamonds depend on artificially limited supply.
Plenty of ways to store value. I'm not going to argue with that. But gold holds a certain sway all its own.
>just because you can store it for hundreds of years and it wont move?
It has a very distinctive specific weight that's really hard to fake and can be forged cold
Incredible. Humanity liked something because it is shiny, discovered it won't move for years, made it is very currency from that and used the said currency for centuries. And even when we stopped using gold as currency, if this shit perishes it will mean global destabilization.
Diamonds don't lend themselves well to being split into smaller pieces for smaller transactions.
Gold can just be cut down almost indefinitely and eventually molten and recast again.
>it wouldn't even matter anymore if gold has some inherent value, it would already be seen as valuable simply due to its cultural importance
This is just stupid, I guess you're like native americans who sold their land for glass beads.
>not finite
are you reading
when you see gold you don't see pretty and shiney, you see sparsity and finite you moron
If gold was not so rare it would be more used. It is the best conductor of electricity. Dense, non-toxic, gold shot is superior to lead shot.
A gold buttplug shows your ladies you value them.
Well, it's a fallback. When other systems falter people can resort to gold. Will that always be the case? Maybe not. But it's a good bet if you're the kind of institution with enough wealth that you need a vault to store your gold.
Of course NO, medicine and cure has value. Shiny metal? In what way?
>Diamonds depend on artificially limited supply.
When someone hooks the first asteroid and starts smelting iron for space infrastructure they will be making gold and platinum as unwanted byproducts.
What happens to the value of gold when someone says, oh yeah I have a few trillion dollars worth of gold up here I think I'm going to import it to the Earth.
because when you cure everyone with that medicine you will need the said shiny metal.
In the long run it will be more valuable for electronics than as an anchor for currency. Ironically goldbugs who shit on fiat currency as having no intrinsic value fail to realize that gold only has value placed upon it by humans nearby. In an isolated group of people or societal collapse would you rather have to carry around this heavy metal or have things that actually give you the ability to survive?
Could be a big upset. Or maybe not. We're not there yet.
>Gold can just be cut down almost indefinitely and eventually molten and recast again.
Good luck making change for a snack from your gold bar.
of course yes
you can trade a gold to a healthy person in exchange for herbs or silver
you will make some medicine and he will have new golden ring to be fancy with
If its not a total collapse but If currency collapses. Lets say Dollar collapses in Value your 100 000$ in bank will mean nothing. So you take out gold and exchange it for worthy currency. It always had value from start of time. In WW1 and WW2 it was used as big value
Gold is not a good at all. Who fucking needs it. Are you gonna build PC yourself out of gold? In a post apocalyptic world? Without food, because you sold it for gold? Wake up.
>This is just stupid
It's not. All currencies depend on people believing that the currency holds some kind of value and can thus be exchanged for something else.
Even if you ignore gold's properties, which make it an excellent currency (doesn't perish - rare enough to hold value while not being so rare that you cannot make smaller transaction - can easily be cut into smaller pieces or recast into larger bars, and so on), it's cultural importance already assures that almost every single person on this planet will accept it as valuable.
You are just intentionally daft and trying to push your inferior bartering system for some reason. Every relevant civilization eventually switched to a currency, because the advantages by far outstrip the disadvantages.
The Key of Solomon. Solomon's gold.
New gold mined from the earth is used in electronics and does not represent material wealth.
Old gold has remnants of Solomon's great treasury that had been melted down. Even a few atomic units of Solomons gold are magically powerful, and are used in Jew rituals.
Separating Solomnic gold from regular gold requires knowledge of alchemy, and so jews and elites who understand jews, hoard gold that may have Solomnic remnants in it, until such a time an alchemist can be procured to extract the particles.
Templars knew this and controlled a vast amount of Solomnic gold, but as they began to disband and become persecuted around the world, they melted it down and dispersed it among currency and treasuries around the world to ensure that it could not be used for evil, but that someday, a great alchemist could perhaps reassemble the treasury to perform great works of good with the power it represented.
The reason why the elite hoard so much wealth is because they seek solomnic gold, waiting for the end of days, when it can be used (they believe) to purchase lordship over the earth from the antichrist, or secure a barony in hell.
And by the way if you cool candy bars to near absolute zero, it won't perish. Same with meat and other foods.
people are stupid and attracted by unuseful stuff like gold and other materialistic shit since the beginning of time.
it's used in electronic chips that most handheld devices use to function since it's a great conductor,you can melt it over an open fire so it's easy to purify it to a degree and to put it more simple it's easy to put a price on a gram of gold who's value rarely fluctuates over time since it's rare but not as rare as other metals and a lot of people invest large amounts of money to get their hands on it.Bitcoin is similar to gold at this point.The more people try to mine it,the more valuable it becomes.
>Could be a big upset. Or maybe not. We're not there yet.
We have had the ability for decades now. I"m being honest what happens when someone has a few thousand tons of gold they bring to the market?
All the claims of gold has value and only gold is money sorta fail.
The first trillion ton nickle iron asteroid we process drops the value of gold to less than the fuel value needed to melt it.
And scalpers make a bunch of money selling bread for gold bars, since you'd rather lose your money than starve. In societal collapse those who control the means of survival are the richest, not those who have the most shiny metal.
And when you see the first signs of this actually being a realistic scenario, you can start ditching your gold reserves and reinvest it into something else.
But with that argument you might as well go
>And what if we manage to push automation to the point where robots can create medicine and food from natural resources?
Then both of those would drastically lose in value, too.
>Then both of those would drastically lose in value, too.
Seems like a good deal.
Nothing stops you from having GOld and FOOD stored up. Its not 1 or other
>We have had the ability for decades now.
And yet it hasn't happened (that we know of). You don't have to like gold and it doesn't have to make personal rational sense to you. But what-ifs are what-ifs until they happen.
Why don't you go down to the NY Fed and tell them they're sitting on a bunch of worthelss gold and they should pay you to take it off their hands so they aren't so stupid? I wonder what they'll say. You can also remind them that those stacks of $100s are nothing more than stupid cloth with pretty pictures and that you'll be happy to burn them for heat so that they don't have to pay for guards and storage costs.
>if you cool candy bars to near absolute zero, it won't perish
Then you will have the constant cost of keeping it at near zero Kelvin, which would probably be an even worse loss of wealth than just letting it perish and regularly replacing it.
if your premise is that the world has gone to post nuclear holocaust survival, then gold won't do you much good when food and clean water is priority.
if you are expecting inflation, then gold has always been the best bet.
Make a more realistic premise before posting.
>What do you think they should do with it? dump it in the ocean?
I don't know, use it in production like other metals are used. I admit I don't know this topic very well, I felt like federal reserves and economics around the world are heavily revolved around gold, this is why I made a thread and asked. Maybe I should read/watch something on this topic. Suggest me anything? I watched "The Money Makers" recently.
So when your 100,000 becomes worthless you can't just exchange it for a sizeable sum of gold. Thus you must make a choice, do you invest heavily in supplies to the point of sellable surplus or do you gamble on gold?
Nah, just install a candy bar vault next to the arctic seed vault. This ensures the future of mankind.
>Your understanding of physics is shaky at best.
Shut up you stupid faggot...
just get some gold, best is to buy it from a bank, you can storage it there.
I'm OP and check out my actual flag.
It mostly just means that your argument was weak.
>what if I can suddenly procure an almost unlimited amount of X?
Then X obviously massively loses its value, but good luck doing that. And it goes for absolutely everything, so with that scenario there is literally nothing that's worth investing into.
Also, since some people in this thread seem to assume otherwise, you obviously don't dump all of your excess wealth into gold, that would be fucking retarded. There are way more profitable investments than that, and a total collapse isn't that likely anyway. Just use some small amount of your excess funds to build up a "crisis deposit" if you think that is necessary. Buying gold also doesn't stop you from also buying booze, ammunition, tobacco or whatever else you consider to be important for a collapse-scenario.
Okay, what about fullerenes? Diamonds?
what am i supposed to feel?
diamonds aren't rare,just a jew scam as per usual
Ok so basically gold has nearly nothing to do with security of US economy, just another 'thing', am I right?
Reminds me of that quote where that famous historian and philosopher spoke about how white people went to Africa and found kids playing with diamonds because Africans were too dumb to take advantage of their natural resources and were content to live in mud huts not accomplishing anything.
The fiat money gives access to the economy behind it. I can use a bill to acquire goods and services anywhere in the nation.
A chunk of gold gets me some of that fiat money that I use to buy my goods and services when I take it to the ghetto pawn shop and gun store.
Try paying your phone bill with some flakes of gold. See how well that works out.
I'm not saying that we do not yet have space mining. Clearly we do not. However, this is in reply to the claims about gold always having value and how only gold is money and other goldbug nonsense that gets spewed out.
i mean youre somehwat right, copper would be better to have during SHTF.
But if you're saying civilization would just abandon electronics, or literally anything that requires power after the apoc, you're fucking retarded.
Its like saying aliens must have visited the nethanderals, because how the fuck did we get from there to here.
I don't know about fantasy scenarios, but if my employer says he'll pay me with either gold or nice food and a huge fridge that cools down to nearly absolute zero, to store it for decades, I'd choose second.
You and I might not give much value to gold, but your garden variety nit-wit has been brought up believing it represents class and desirability.
Just cause we're right doesn't mean they're wrong.