Comment on Is gold investing a scam?
MyMindIsLikeAnOcean@piefed.world 1 week ago
I assume you’re talking about physical gold.
Yes, it’s generally a scam. Some middle man is going to take a cut of what it’s worth before you enter the market - and they’re almost always going to misrepresent it’s value, especially if it’s not in the form of a stamped bar. Then you basically have to store it and shlep it and secure it and keep it secret, which will further diminish profit. Then you have to sell it, presumably as part of your retirement plan…or leave it to somebody who’s going to lose even more of its value when they want to unload it inefficiently.
If you’re not wealthy in the first place it’s only worth investing in as a hobby…because you have to factor in the value of your time and subtract that from its value, as well.
Holytimes@sh.itjust.works 1 week ago
The amount of time it would take for a post collapse society to regain enough stability to return to metal being needed for a currency is likely longer then you would be alive to actually benefit from the investment.
Short term only direct barter and labor will be worth anything. You only need a currency when you have a non volatile society.
It’s why the whole post apocalyptic gold value nonsense is nonsense. You NEED an economy to make currency have value. A post collapse society has no economy.
MyMindIsLikeAnOcean@piefed.world 1 week ago
Yeap.
Like…depending on the nature of the collapse you might have a bunch of delusional former MAGA people in a region who all have a bunch of gold so they trade it with each other…but for the most part nobody would want it.