Bitcoin

[slang]

Originally Posted by xoxoxoBruce

Gold is great for electronics and makes pretty jewelry but other than that it's not of much use.

It's difficult to argue against your opinion unless there is some type of crisis. Long or short.

The two reasons that I appreciate gold is that it's concentrated money and if done properly, there's no counter party risk.

Most normal people have a pretty secure financial life, you live here, you do this, this is yours, these people know you and have for many years. There is very little tolerance for uncertainty.

If you don't have those circumstances something very valuable that you can physically carry with you may be reassuring.

Why is gold valuable?

Originally Posted by xoxoxoBruce

The reason it's valuable is the faith that it won't decrease and likely increase in value.

It does decrease as it did in the 90s. When credit is everywhere, things were hot and very few people had any concern with the currency.

When fiat is expanded, it generally increases in value.

Gold was a canary of sorts that a citizen could evaluate the currency. If gold shot up in price there was a problem. The spot price was a "dashboard" idiot light.

There have been methods to suppress the spot price so that even those that watch for the idiot light never see it because it never comes on.

Originally Posted by xoxoxoBruce

That's right the value is based on faith and tradition, the same as currency.

When things crash, historically it's rebooted with gold and silver.

Silver is a different animal as it's used widely in industry. After the event or crisis is over silver tends to increase. Holding silver boosts your investments for the recovery. Industry uses go up again.

Originally Posted by xoxoxoBruce

If there's a food shortage, I'm not parting with mine for gold or currency.

If there's a severe food shortage, I'm looking to assist someone with my excess food for someone that is capable of helping with security. Security tends to be difficult while you aren't fed. Hungry people are more likely to do things that are more risky.

You don't have to be some crazy assed para military setup. It can be as simple as holding out extra food, could easily be as cheap as rice, for that neighbor that you talk to a few times a year.

Another set of eyes to pay attention. Someone watching so that you might sleep soundly with all the additional stress. Don't ever let them know what you have but share some food and create an incentive for them for them to help you get through this so that they may also get through this.

This theme works well on very small and very large problems. Short and long.

You may have gold and silver at the start of the problem and that would help you after the problem has been solved. You wouldn't start at zero. Asset protection. But without food you'll give it away or fight battles you cannot possibly win to get it.

Of course, this is all just MY opinion and perspective. Years of comparing notes with military guys and preppers could be completely wrong for the circumstances that may exist today.