Comment on Gold hits $3,500 for first time as US dollar sinks to three-year low
10001110101@lemm.ee 1 day agoThink about it; the government is gone, there’s no gasoline or power of any kind, no way to get food.
That kind of complete collapse, world-wide is unlikely. Gold could be useful if a country’s currency collapses, which does happen sometimes. Gold dealers will still exist and they can sell it to other countries if they have to. Central banks do buy gold for various reasons. Though, gold is super volatile and highly speculative compared to central-bank currencies (usually), so I don’t really trust it as a “store of value” or currency. Gold has the reputation it does mostly for traditional reasons. Theoretically, any rare, expensive to mine/acquire resource could take its place if enough people/institutions agreed on it.
Dagwood222@lemm.ee 1 day ago
It’s fruitless to speculate on what the collapse would look like.
I think it was John Dillinger who said that there are a thousand things that can go wrong in a bank robbery, and if you’re a genius you can plan for fifty.
10001110101@lemm.ee 1 day ago
I agree. But countries having their currencies collapse/hyperinflate happens somewhat often and can be studied. It’s not exactly the complete economic/societal collapse preppers seem to think about.