I just bought some of my first gold ever. I've had too much money just laying around doing nothing, so I decided to diversify a little.
It blows my mind that a ~30gram tiny bar like this is wort as much as a few months worth of food, or a really big screen, or so many other things. It feels a bit absurd when I hold it in my hand and I think how much it's worth.
Is this just a meme?
it only has the value people are willing to pay for it
or if you manufacture electronics or stained glass i suppose
Bitcoin is a meme, commodities like gold aren’t
>It blows my mind that a ~30gram tiny bar like this is wort as much as a few months worth of food, or a really big screen, or so many other things. It feels a bit absurd when I hold it in my hand and I think how much it's worth.
More people should have that experience. Isn't it awesome? It stores durably, too. It will still be what it is long into the future.
>it only has the value people are willing to pay for it
Thanks for stating the obvious.
But isn't it true that more than half of all the gold in the world is actually sealed in the underground vaults of a few banks? Wouldn't releasing that gold into the world completely destroy it's value?
I feel wierd buying gold now that I look at how little of it my money has bought, but at the same time I don't feel weird holding so much value in the form of 1s and 0s in a bank. What the fuck is wrong?
It is a bit awesome, but it's also a worrying thing. When I look at it it feels like it could lose most of it's value very easilly in a world where gold isn't that valuable because most people are struggling to get basic needs met.
>has too much money just laying around
not gonna share with the class OP?
>is shiny metal a meme
pretty much. similar to the diamond industry. artificial scarcity + shiny = expensive rocks
That's exactly why I'm a capitalist! Socialist systems bring poverty, but they expand inexorably if not checked. We need people to care more about poverty than they care about political solutions to poverty.
There is no creating gold. You can create shiny rocks. Theres a difference.
Gold has special properties that make it uncounterfeitable
It is arguably God's currency and goes back to the dwarves
Don't stop buying metals. They keep their worth better than fiat money. I too bought gold but switched to silver as I think it's less volatile
Actually I just bought $50 000 of gold as a hedge in my portfolio..
Yeah but when you need to turn it into cash again some middle man is going to take 10%. There's much better ways to store wealth.
>not gonna share with the class OP?
How about you make your own money nigger?
What are you on about?
Just because it was valuable when humanity was in it's infancy technologically and in terms of quality of life doesn't mean it should be as valuable now. Before fiat currency gold was indeed one of the best stores of value, since it was so "light" compared to how much it was worth. But now, it seems like most people don't have gold, nor do the care about owning gold.
I'm no economist, but my instinct tells me that somehow current value of gold is inflated by ideas about economic collapses and such. But in reality during a real economic collapse no one would give a shit about gold, they would need clean water and bullets.
> me gold
>no creating gold
where do you think it comes from? has all the gold in the world already been mined and is sitting in a vault?
as other user pointed out. this might act as a good buffer to hedge your portfolio. i hope you got a portfolio. because gold alone as an investment is just...
you're gonna be patient enough to baghold a while user.
Create in a lab. You can't make new gold without mining it like you can with diamonds.
Currently, there is no large-scale method of synthesizing gold. We can do it, by the way. There are bacteria that can create gold, and supercoliders can create gold. But we don't have any way to do it on an industrial scale.
Take an olympic swimming pool. Now melt all the gold ever produced. It fits inside that.
Will we invent new methods of drilling and identifying where to drill? If we do, it could obliterate the value of gold. Will we ever figure out how to synthesize it? It will obliterate the value of gold. Will we ever get off the Earth? That could do it, too.
It is probably a safe investment during your lifetime. But if any of those three things happens, then it won't be.
>It blows my mind that a ~30gram tiny bar like this is wort as much as a few months worth of food, or a really big screen, or so many other things. It feels a bit absurd when I hold it in my hand and I think how much it's worth.
I've done some historical research into relative value of gold going back centuries. Basically its always been the case that 1 ounce of AU = a month of living expenses (food + shelter). Sure its variable on where you choose to live, what you choose to eat...but basically from roman times to now 1 ounce of gold will get you squared away for a month.
Best way to think of gold is as a meta-currency. If the EUR would disappear tomorrow, you could exchange that 1 OZ AU into whatever the new local currency would be and roughly get the same purchasing power for it.
I'd advocate everyone have at least 6 oz AU for national disaster preps
Economic collapse doesnt mean fight to the death
It just means prices go way up and people lose their houses/retirement
You can, actually. Supercoliders can and have created new gold atoms.
Currency will continue to inflate as governments all around the world continue to print more and more of it. When you buy gold you will always get more out of it than what you put in it.
Can you actually go and see your gold or is it all on paper??
Should have bought Bitcoin.
yeah maybe 10 years ago
I did think about buying some platinum too. Having only gold seems like a bad idea.
Jesus, that's about as much money as I have in total...
10%? Really that bad? That seems pretty crazy, and if true why would anyone buy gold?
I'm not sure what you mean by a portfolio, but I do have various types of investments, shares, land back in poland too.
Hmmmmm, only one olympic swimming pool? I gotta google that shit.
That's about how much I bought. Thanks for that info.
>Drill for it
Nope
>Synthesize it
Nope
>Leaving Earth before the game is finished
Nope
If you want the real redpill, think about how many men have tried to accumulate all the gold in the world and how they have all failed
Gold is Earth's dragon balls or parts of the one ring if some greedy cunt ever gets them all
That's great Jimmy. Too bad it costs millions to make a few atoms of it.
ONLY BUY GOLD YOU CAN FUCKING HOLD, MOST OF GOLD PEOPLE BUY IS ACTUALLY ON PAPER AND THE GOLD IS "RENTED" OUT TO OTHERS, I.E JEWELERS
>Memedurps have created fake gold
Yeah ok
At a rate of something crazy like 10000 years for an ounce
In the begining of a potential disaster where everyone is scrambling for water and ammo there would be virtually no markets so you wouldn't necessarily have any way of having a currency.
But once people settle in and you have to start trading it's a bitch trying to trade goods without currency.
True. The point being that you are incorrect to state it can't be done. Yep: it's prohibitively expensive to do with current technology.
But it's doable.
Mah nigga, if you don't hold it you don't own it.
Gold investments are a pretty solid idea, especially since it's used in the majority of consumer electronics. I can see it retaining it's value much better than any fiat currency, at least until a cheaper to produce alternative can be found/made for use in electronics. It's a good bet.
> my instinct tells me that somehow current value of gold is inflated by ideas about economic collapses and such
Probably but that's the case for every form of investment, there is so much capital slushing around that people are desperate to tie down to something that it ends up inflating every commodity. It doesn't make assets less valuable, it's that cash alone isn't worth as much, look at chinks willing buy anything at any price.
You bought the meme, good lad. You know Gold prices are controlled similar to Diamond prices right? Artificially inflated. You're paid for a hunk of mineral worth only what people are willing to tie to it, and in a SHTF scenario it won't be much. People will be trading cigarettes and booze for a long time before they start trading gold/silver/anything with only a perceived value.
Fine. It can't be done while making a profit so it won't be done.
>But isn't it true that more than half of all the gold in the world is actually sealed in the underground vaults of a few banks? Wouldn't releasing that gold into the world completely destroy it's value?
No it won't because there isn't a lot of gold to go around in the first place. Gold is a rare metal. One of the rarest.
Unless asteroid mining happens (it won't at least during this century), the price if the gold will be stable. It is definitely not something on which you can make a profit on short term, it is mostly used as a way to store wealth and leverage against inflation.
People struggle to get basic needs met because systems aren't arranged in a way that creates incentives to meet basic needs abundantly.
Attempts to solve poverty with politics often create long-term dependency issues and perverse income incentives, when they are not actively counterproductive like the minimum wage. (If you ban the least productive from being employed, they don't become productive enough to be more valuable.)
You end up with populations who only ever have so much money, and a surrounding economy geared to providing them no more than what that much money affords them, with little slack and little hope.
Breaking free of these things requires human initiative, but we've bound human initiative in a thicket that requires a college education to pierce.
or like ....one year ago. or you know, one month ago.
what a fuckin retard
Annual mining production of gold, even with the most ultra-modern technological methods, is decreasing exponentially with each passing year on average. The whole point is that it's rare, generally indestructible, fungible, and has a natural history as money. BItcoin I believe is the modern day dutch tulip bubble. Good on all of us that got in relatively early and made 10X or better on it. Hell, 50% profit is amazing. But guys be careful. This trendy mania bubble is going to implode eventually. I have been unwinding my BX position for a month now.
I actually had it shipped physically to me, it arrived yesterday. Having it in some storage somewhere seems to completely miss the point of owning gold in the first place.
lol
That's my assumption too. I've always preffered austrian economics, and that's what I based my puchase of gold on.
Yeah, so the initial crash would not be good for gold, but once the economy starts recovering, I would be in prime position to become rich if I use it wisely I guess.
Well that's the thing. Gold won't be that useful initiall after a big crash, but it will be a ear or two from that point, when people start trading again, economy slowly recovers.
What the fuck are you talking about?
In diamonds one company has a monopoly. No such company exists for gold.
Spoken like a true ignoramus.
Now, what would you say is better, gold coins or bars?
Not actually true. DeBeers intentionally broke their own monopoly a few decades ago, by selling their stocks.
>When I look at it it feels like it could lose most of it's value very easilly in a world where gold isn't that valuable because most people are struggling to get basic needs met.
Not true, look into how deep the diamond memes goes, it's not one company, there's a family above that company, a family who also control most of the gold and set the prices.
Gold bars 1oz.
Or you could just buy actual gold
How does one stop their gold from getting stolen without a gun?
There has been price fixing by London City in the past, but that is no longer the case since the Chinese and Russians entered the game with their massive reserves.
Proofs?
You mean after artificial diamonds started to become cheaper than real ones?
Metal prices will skyrocket when btc shits the bed. If it shits the bed. I think those in power have the ability to do that by dumping it. Still wish i would have gotten in early.
A concealed safe in your household?
>Memeflags
>"BITCOIN IS FINISHED"
>"GOLD HAS NO VALUE BUT THIN AIR JEW MONEY DOES"
I hope you are taking notes Sup Forums
I'm not going to spoonfeed you, it's the Rotschilds, they're more than just a boogeyman, they've had their hands in Rhodesia, Brazil and any country with a railway system, they control both industries and much more.
Yep. That's why they busted it. They knew someone would have to run a marketing campaign against them, if they remained the only one with a stake in artificially propping up the price of diamonds, so they sold stocks to decrease the price to just-above the price of artificial diamonds. That way jewelers could get the diamonds, sell them for more than the artificial, and have a stake in defending the value of found-diamonds on the market.
Rite.
Hasn't been true for like 30 years. See . Diamonds haven't been controlled by DeBeers for a while.
Gold will be useful at the very beginning of happenings(when there is still some hope,and when happenings are over).
That is the case of a global day of the rope style happening.
For anything less than it like an economic crises or a local happen ing,it's fucking great since you can simply go elsewhere that it still holds value and buy shit in exchange for it.
I have some gold and silver but bullets,food and weapons are even more important to me,and those things that you don't need to carry such as skills are even more important,also a good stock of tools can make you be useful and survive happenings.
Its just a meme.
I mean if you buy gold, the guy you bought it from and the people who watched you buy it and the financial institutions that track your money all can leak the info the hitmen that know you have it
They dont have to find the safe or hurt you. They just break in, put you on your knees and say give me the gold or ill rape you
Feelings are just that, feelings. I'm not a woman so I don't go by my feelings along, which is part of the reason why I started this thread, to see more opinions about gold.
That's kinda what I'm expecting. The only time I ever boight BTC is to buy some weed on Tor. Holding value in BTC seems retarded to me.
I do not have a safe, but I do have a decent hiding place. Though next time I'm flying back to poland I'll take my gold with me and put it in my father's safe.
>bullets,food and weapons are even more important to me
Wish I could buy weapons and bullets. Can't in Ireland, and can't really in Poland either. If it wasn't for how hard it is to get guns in my home country I'd consider it almost perfect.
Just starting a thing without argumentation is the definition of a shitpost.
One hypothesis that is reasonable is that BTC and other BX are financial honeypot schemes set up to pump and dump the average Joe. This is the business model of the Wall Street and City of London fuckers so it would not surprise me in the least. The fact that puppet govs are not only not pulling out all the stops to go after it but some govs are egging it on (Iran, Saudi) throws up HUGE red flags for me.
Careful newfags that are jumping on this one. You could get robbed blind if you are not diligent. Don't get caught up in the hype. Remember the housing bubble? I was mocked by friends for shorting the housing market from 2006-2007, and lost a ton of money, until late 07' when I got all those losses back and STILL doubled my initial investment. I was just way too early or I'd have made a windfall. Ughh.
What do you do if someone breaks into your house and says show me the gold or you die?
BUY cryptocurrency.
You store it on a decentralised network spread across the earth. If shit hits the fan you are safe unless the entire global network goes down.
You can store it multiple ways, even with a pure brain wallet where you memorise your private keys.
You don't have to have an arsenal of weapons to protect it like you do with gold, and you can easily convert it instantaneously into other things internationally, unlike with gold.
It also is deflationary rather than inflationary (dependant on coin)
1 bitcoin is worth more than 1oz of gold at the moment
Yeah in the scramble for life situation you wouldn't be able to enter a market so your gold would be practically dead weight. But I would bet someone would gladly slit your throat to take it regardless.
Afterwards it is down to the people trading in the markets to determine which currency they use. You could make wooden coins and use them if you agree on it and are able to deal with counterfits. But that is where I think golds physical properties come in.
It is very easy to melt it into an appropriate shape and just soft enough that you can imprint your symbolism on it and create coins. Counterfiting gold coins is a bitch of a process too.
>Someone breaks in and points a gun at you
Thats the only real downside to Gold
Good point user, buying blackmarket ak47 and training in brazillan ju jitsu as we speak
This, gold isn't fait money or some shit. It has actual value since as long we have mined it.
Fight him I guess?
I have notoriously bad temper with people who think they can order me around.
well, why make coints if you can just cut gold bars with some pliers and just weight it?
Hmmm, I guess the problem is knowing it's purity. That's why it's minted and put into tamper-proof boxes. To make sure it's known how pure it is.
it's a nice way to store value, if gold is going up it usually means inflation so you can buy the same amount of food for the same amount of gold and vice versa, ideally you'd not physically own it and invest in a derivitive but it's still better than cash although nothing beats cash for liquidity i'd like a couple % of assets in cash, 10% in gold type assets and the rest actually working to make money.
Think of it this way: The chemical qualities of gold are so rare that that is their value.
In America it's called the 2nd Amendment
Sorry m8, sucks to suck
I see it plateauing then a small crash. It'll drop like 2k then skyrocket to 10k or so then the hammer is going to drop and wipe out so much wealth people will an hero. I think I'll try to jump on at the bottom and ride up to 10k
That is also its upside. Theres always someone willing to kill you for it.
>Fight his weapons with me fists
Ok Jonny Wickerman
This
Gold is not for getting rich, it's for securing wealth
Some other elements like platinum also have similar qualities. Does any country have platinum reserves?
its nice to have some, but dont over do it. rather put some in silver/crypto/guns/food as well
That tells you the value right there
When you own it, you dont feel safe without a weapon
I feel safe with cash everyday because I would laugh at a robber who took useless paper
How do you manage a varied number of investments? Do you do the accounting of all the assets yourself, or do you use some service to manage it?
Sure, but that changes as the technology available to humans changes. Gold wouldn't be very useful if most humans don't know what to do with it.
>weapons
>carrying any length knives is illegal in ireland
Heh. They got cucked so hard by brits that they can't even carry a kitchen knife without having a good reson for doing it.
>silver
Sure.
>crypto
Don't make me laugh.
>guns
Not legal
>food
I have some military rations, but not much.
BTC more than doubled in the last month, and is over $7,000 each at the moment.
Platinum cannot be used in all modern electronics while also having all the properties of Gold
It also doesnt look different enough from silver
>Home invading gold stealers
>Caring about weapons laws
In the future maybe.
But dude bro its gonna crash!
Sounds EXACTLY like a bubble to me my friend.
That's the next thing I'm cosidering buying, platinum. Seems even a bit more practical than gold in the industry sense.
How would they even know I have gold?
Depends on how good the economy is.
In the 80's 90's gold was really really cheap.
In my case I don't have it in my house,it's buried,in some lands my family owns,also it's not all together.
Completely agree but there are enough retards in the world that know jacks shit about economics and simply see a value going up so they assume it will and can only go up so unless they get aboard it's a missed opportunity.
I do have some of it because I know there is a los of growing potential but only money I can afford to loose so I don't really see it as a hedge just an investment.
Don't you have shooting or hunting clubs,hunting is a mediocre training but you get to hold guns and it's a better training than nothing.
Btw if I were you I would buy smaller denominations so you can easily sell it away in case of need not a lot of people can buy one kilo bar,also coins are easier to identify and some might have numismatic value so you can always rely on some OCD retards to make your shit more valuable if there is no happening.
My last advice is get to learn your shit and buy from second hand buyers,i use Craigslist equivalents and get to buy and sell avoiding the 21%tax that would fuck you up if it's not gold(silver or other PMs.
I wouldn't go for platinum think about palladium,those metals are more of an industrial thing so you have to see what will the demand be for them so what are they used for,what types of catalysis are the future and what are the past in chemistry,i think palladium will grow more than platinum for the next year's but it's you who has to do the thinking user
I belive palladium has some unique properties while being very stable.
It's going to dip, yes, but it won't crash / become worthless.
Right now is a bad time to invest in my opinion, bubble's going to pop, it'll dip down, now is the time to SELL.
In a month or two it'll be back down to 4000 or under, that is the time to buy, then it will go back up to 5k - 6k, if not more,
Disclaimer: This is just my opinion, based on trends I've observed, I could easily be wrong.
>Gold has special properties that make it uncounterfeitable
What being an element?
Keep in mind that while more and more gold becomes available, more and more ways to use it are invented.
Well coins are pretty much what you described but instead of carrying around gold bars, pliers and scales you do it ahead of time, standardize it, stamp it and then just carry as much as you need with you.
All the people who know you bought it have friends and social media with robbers waiting for a tip
Most card company employees sell transactions like gold to the black market for home invasions. All they do is "leak" it on accident
Your transactions and posts here are monitored
Its a game of give me the gold or you die