Gold and precious metals as "Money"

[Sean K]

Arabs have always used gold for their store of wealth. They probably always will.

Is that 'store' or practical use of?

It's still just heavy metal under tha garage until you need to barter it for something.

How many siver pieces was it to buy someone's daughter back then? Or now???

 

[So_Cynical]

I have always failed to see the 'value' of gold also. In an apocalyptic scenario you are much better off with a pallet of canned food or even a heap of seeds that can be planted to grow food.

I met some south Vietnamese refugees in the early eighty's (boat people)
when they escaped an apocalyptic Vietnam in the late 70's they took there
wealth with them in the form of gold and jewels.....not canned food.

Sure they did take canned food to...but it wasn't where they stored there
wealth...and considering they hid there wealth up there rectum, a can of
beans would of been very uncomfortable.

 

[Sean K]

Sure they did take canned food to...but it wasn't where they stored there wealth...and considering they hid there wealth up there rectum, a can of beans would of been very uncomfortable.

Golly, chocolate coated gold star fish. Tasty!

I'm not sure if tons of the stuff would have made it onto those rafts and if so create any significant ripple in global supply and demand...

Perhaps we should be treasure hunting up in the South China Sea??

 

[sinner]

under tha garage

Knew you'd give it up eventually, be at your garage in 15mins!

Read this guys,

http://ferfal.blogspot.com/2008/01/about-using-gold-or-other-forms-of.html

A blog titled "Surviving in Argentina: Life in Argentina after the 2001 crisis".

The post is called "About using gold or other forms of foreign currency after the crisis (old post)"

 

[MR.]

Buy a whole heap of objects that can be bartered with and will still be worth something with any new currency.

Perhaps they do need to be small and out of site!
Even if that $50,000- piece of gold only bought some cow! moooooo

What else is small apart from gold/silver/gems (which can be hidden) but is actually useful?

 

[Temjin]

What else is small apart from gold/silver/gems (which can be hidden) but is actually useful?

Highly purified weapon grade uranium or plutonium.

 

[MR.]

Highly purified weapon grade uranium or plutonium.

To throw at the bloke next door when he comes a Knocking!

 

[overit]

Heres a good video for you! A real life example of gold being used for transactions in inflation ravaged Zimbabwe. 0.1grams of gold for a loaf of bread. Panning for gold is the only way of life for many of these people as their currency is worthless and not excepted in many places.

The painful reality of living in Zimbabwe

An interesting watch. Goes for 7mins.

 

[GumbyLearner]

Heres a good video for you! A real life example of gold being used for transactions in inflation ravaged Zimbabwe. 0.1grams of gold for a loaf of bread. Panning for gold is the only way of life for many of these people as their currency is worthless and not excepted in many places.

The painful reality of living in Zimbabwe

An interesting watch. Goes for 7mins.

Here's another

 

[Value Collector]

Heres a good video for you! A real life example of gold being used for transactions in inflation ravaged Zimbabwe. 0.1grams of gold for a loaf of bread. Panning for gold is the only way of life for many of these people as their currency is worthless and not excepted in many places.

sounds like baking bread might be more profitable than panning for gold.

 

[greggles]

Gold and silver has been money for thousands of years. There's a limited supply of the stuff and they have an ever increasing variety of uses. I've been giving a lot of thought to precious metals recently due to the amount of money printing that's going on in recent years. Fiat currencies are starting to look increasingly transient and impermanent.

Cryptocurrencies won't last as money because their perception as store of value is illusory. It's digital fairy dust. On the other hand, you can take an ounce of silver in any form, melt it down and use it in electronics, solar panels, electric cars or in a range of other industrial applications. That is what store of value means.

I think precious metals will be money for a long time to come and I think people are starting to pay a lot more attention to them as an untraceable way of storing wealth and transacting with others. The powers that be might be able to get rid of cash but they will never get rid of precious metals.