/biz/ - Business & Finance

>>10444990
>>10445030
>Brainlet goldbugs are at it again
Get with the fucking times you dimwits, holy shit. How dense can you be? Gold used to be store of value because it was one of like three materials known to man who were all of the following:
>rare
>light and easily divisible
>resistant to rot and rust
>didnt mix well with other metals and therefore hard to dilute
>characteristic shine made it easy to identify

It's 2018 and not only there are hundreds of materials that fulfill some or all of these categories better than gold, its appearance is no longer trustworthy. It now takes a thorough analysis to make sure gold isnt part tungsten or some shit. It has become completely unviable for small amounts and average joes. The only ones who still care about it are mega corporations and governments, because they deal with such large amounts that testing for authenticity is a tiny cost in comparison. The blockchain is everything gold is plus easy transfering and testing for authenticity. It's the best store of value in itself that exists today, its biggest problem being the sketchy people who own so much of it

>>10360609
Takes a lot of balls to short this stuff, because the government might just try and prop the lie up forever.
My third world nation went through a similar ordeal:
>Be Brazil
>Have a commodity based economy
>Prosper through the 90s and 00s because of the boom in said market
>Irresponsibly increase govt spending
>Nothing happens because the economy is doing so well
>Come the early 2010s
>China slows the fuck down, commodities crash
>Govt gotta do some serious cuts and roll taxes back or shits gonna go sour very fast
>Stubborn leftie govt refuses to employ damage control
>Keeps on increasing spending. “This is temporary, we'll go back to having infinite demand for our exports soon”
>Go down squirming and refusing to accept reality
>But it's too late
>Country goes into recession for 9 consecutive quarters in 2015
>GDP goes down 8%, 25 million unemployed
>Still struggling to climb out of the hole to this day

If only they had accepted defeat earlier, there might have been less consequences. Also, whoever shorted the place had to endure some three years of artificial growth corroding their position before the reality sunk in