/biz/ - Business & Finance

[Anonymous No.49813232]

>bro gold is best way to protect yourself from crisis
>in WWII people were paying with gold coins pound of flour
HAHAHA, sure chuds, so your gold coins will be worth like what $1 in today dollars in time of crisis
your whole stack of gold will be enough for month worth of groceries

[Anonymous No.49813272]

>>49813232
I'll trade a can of sardine for your grandma gold teeth

[Anonymous No.49813301]

>>49813232
Thanks just ordered more

[Anonymous No.49813322]

>>49813232
Well stupid that's because food was scarce so more expensive, at least your family would be eating

[Anonymous No.49813354]

>>49813322
yes, but that means that can of food and land are more valuable than gold in times of crisis

[Anonymous No.49814046]

>>49813232
Seethe jew
https://www.bloomberg.com/news/articles/2021-10-20/venezuelans-break-off-flakes-of-gold-to-pay-for-meals-haircuts

[Anonymous No.49814424]

>>49813354
Food spoils and is harder to transport than currency, and what are you going to do with your land? Trade a square foot of it for some flour? Fucking moron.
Fucking moron

[Anonymous No.49814492]

>>49813232
>in WWII people were paying with gold coins pound of flour
source? urban legends?
why is it that gold was used as currency for thousands of years through periods of famine, war, disease and other apocalyptic events that caused 50%+ civilian casualties, but the moment the jews take over our monetary system (early 20th century) using gold is somehow unfeasible

FYI in ww2 occupied greece, goldbugs made more money than food scalpers despite a famine that killed up to 5-10% of the population
drachma was getting hyperinflated, so people with gold could buy untold trillions of it, using it to buy just about anything they wanted. even if a local currency is worth less than dirt, gold still retains its value in relation to foreign currencies

if my word isn't good enough for you, make a little bit of research yourself
https://www.businessinsider.com/greece-and-gold-during-world-war-ii-2011-9
gold saved the lives of those smart enough to get into it early

[Anonymous No.49814570]

You're better of stacking non-perishable food, ammunition, fuel, sanitary items, medicine, tools, etc. if you want to prepare for that kind of scenario
also offshore bank accounts in different currency than your own, good transport (vehicle, fuel) to gtfo
gold is only important due to its history and that's why there is still a lot of liquidity in it
jewelry probably being the most important real use case for it

[Anonymous No.49814693]

>>49814570
>jewelry probably being the most important real use case for gold

holy low IQ.

[Anonymous No.49814943]

>>49814424
grow food and sell it
are you retarded

[Anonymous No.49814967]

>>49814492
source is history doc on WWII Serbia
People living in cities literally paid in gold flour at one period

[Anonymous No.49815050]

>>49814943
Sell it for what? More perishable goods? We're talking about a crisis.
>Grow carrots and own cows
>Take carrots and milk to designated trade spot
>Hope whoever is trading whatever you need needs specifically carrots and milk
>He doesn't
>If only there was some immutable, easily carriable currency that everyone recognizes as valuable so you could bypass dumb barter system
>Desperately try to find someone who needs exactly what you have before it spoils
>Fail because you're a retard
Barter economies are fucking retarded even in a crisis and that's why we abandoned them fucking forever ago. Even venezualens aren't trading milk for haircuts you fucking moron. See >>49814046

[Anonymous No.49815117]

>>49814693
just google gold demand lmao
it's 50% jewlery

[Anonymous No.49815144]

>>49814693
>>49815117
looks similar with the already extracted gold

[Anonymous No.49815229]

>>49813232
I just wanna buy gold cause it's shiny :)

[Anonymous No.49815368]

>>49815229
based

[Anonymous No.49815522]

>biz freaking out because the crypto casino they rely on is bust
>now all of biz thinks housing market and everything is soon to be in free fall
>some retard still wants to FUD gold, the only asset really holding steady

what kind of dumb shit think tank is this place??

[Anonymous No.49815757]

>>49815229
I just think they're neat bros :^)

[Anonymous No.49815813]

Yeah, I am pretty sure your cryptos will be in high demand when WWIII

[Anonymous No.49815901]

we pay precisely the same amount in tax on gold here as a jannie takes home each month in pay.
>t. bongland

[Anonymous No.49815980]

>>49815522
>>some retard still wants to FUD gold, the only asset really holding steady
LMAO, tell me you are trolling and that you are not that retarded

[Idriss moulay rachid debunker of neocolonialism No.49816158]

>>49815050
he knows all of that, he's a crypto broke that envy us stackers, 1koz silver and 10 of gold letsgo baby im gonna be richh boiii

[Anonymous No.49816580]

>>49816158
>1koz silver and 10 of gold

>bragging about a 5 figure pile of rocks

[Anonymous No.49816710]

>>49813354
Depends on the crisis, retard. Why not have both?

[Anonymous No.49817473]

Ignore the anonymous internet assholes who do not have your best interest in mind. Instead, watch what the uber-insiders at the world's central banks and independent governments are doing: packing gold bullion into their vaults like Japanese salarymen into a rush hour Tokyo train.

The remonetization of gold, in keeping with its 3000 year history, is coming.

[Anonymous No.49817496]

>>49817473
Is silver good too?

[Anonymous No.49817547]

>>49816580
when everyone else has zero hard currency except grandmas fake pearls that's going to be a lot.

[Anonymous No.49817584]

the real question i feel is like, so, you have gold, the economies collapsed, its turned into basically a barter/trading system...how are you going to actually...use the gold? do you have scales, a way to cut the gold effectively, how do you convince people its value? do you tell them "i bought this bar for 1.8 grand in 2020, so give me 100$ worth of flour for this section", and who will go "yes, i will consider this chunk of gold to be the value it was when half of it was used for jewelery, in this wasteland where we scour the earth for food to eat and step over jewellery constantly because you cant eat it".

like, even if gold holds its "value", 1/1 to the dollar, how much are these metalholders holding. do they have half a million in gold to sustain themselves for years? or do they think the 5k stack they have is going to somehow buy hundreds of thousands of food?

[Anonymous No.49817615]

>>49813232
Stay mad fiatchud.

[Anonymous No.49817643]

>>49817584
Kek stay poor nigger

[Anonymous No.49817694]

>>49817643
i mean, im just going to take your gold, since i have a gun. i just want to know how you plan to use it, for when i have it. how do you use it. so i can use it. when i have yours.

[Anonymous No.49817727]

>>49817694
Kek stay poor you black gorilla nigger

[Anonymous No.49817739]

>>49813232
I guess my question is why are so many threads fudding PMs being posted lately? No one had issues buying useless or speculative assets up to now, and short of cmmg and PMG no one mentioned gold or silver because they didn't give a shit. I've been watching fortune's and retirements getting destroyed for a few months now and somehow that will make hard assets completely useless.

[Anonymous No.49817928]

>>49813232
Lol ok whatever u say buddi

[Anonymous No.49817956]

>>49817727
no please, its easier to tell me now then for me to plier your teeth out when you come to my door asking for a loaf of bread for a bar of gold

[Anonymous No.49817963]

>>49813232
Ammo is king of assets.

[Anonymous No.49817975]

>>49813232
this is the zoomer's way of testing his point of view, just blurt out whatever retarded shit they believe, whatever strawman arguments they've been working on for weeks, and then wait to be corrected like it's somehow our job to convince them

[Anonymous No.49818012]

>>49817694
welcome to your first metals thread nigger. Stick around and learn a few things and eventually you won't be the laughingstock of the thread.

[Anonymous No.49818101]

>>49817496
Yes. It not only has a long history as a monetary metal, but tremendous industrial utility as well.

[Anonymous No.49818410]

>>49813232
I won't sell my PMs until the debt market implodes. People are going to learn the hard way that the banks are perfectly capable of fucking you over through both inflation & deflation.
There are hundreds of trillions of dollars in toxic paper, and over leveraged stocks and real estate that are going to be looking for a safe haven. Cash is going to flood into real goods and commodities like you would never even think possible. It's pretty amazing how clueless people are and unwilling to understand the world they live in.

[Anonymous No.49818530]

>>49813232
I don't know if you paid attention but one of the things Powell said is that they intend to push for real positive interest rate across all time horizons. Guess what happens to the price of gold in such an environment.

[Anonymous No.49818625]

>>49817584
gold will be worthless in that scenario, they could buy week worth of groceries at best
goldcucks don't want to understand that because their whole imaginary world that they built in their heads will fall apart

[Anonymous No.49818647]

>>49818410
High IQ post

[Anonymous No.49818738]

>>49817584
>>49817694
wait till this zoomie finds out that civilizations traded in gold/silver coins for thousands of years

[Anonymous No.49818780]

>>49817956
i love how we went from "how will metal trade work" to "i will mutilate you and kill you"
i only see this type of delusional derangement from extreme poorfags (often third worlders), rentoids and commie incels

[Anonymous No.49818826]

>>49818530
Powell also said that inflation is "transitory" and back in 2018 or so, Powell said that the Fed would normalize its balance sheet.

Guess what the Fed will do when all of the asset bubbles it blew in equities, bonds, housing, collectibles, etc. seriously pop and in the process of falling 50% or more from where prices currently are?

I very seriously doubt that the Fed will allow that kind of proper housecleaning which will also incur the risk of a self-reinforcing deflationary spiral (a debt deflation as Irving Fisher described it).

A large cash holding with a slug of gold to hedge the purchasing power of the cash is a perfectly good allocation right now.

[Anonymous No.49818856]

>>49813232
>gold

Have said this in other gold threads.

There is nothing magical about gold or other precious metals. It is like any other commodity in most ways. Gold can fill teeth, work with electronics and do other things. Other commodities do other things.

Gold does have some properties that make it a good store of value. It is durable, divisible, portable and uniform.

Milk is a store of value, but it is not durable, if you don't sell it soon it is nearly worthless. Gold you can bury for 100 years and it is still worth money.

The problem with gold is in uncertain economic times it can shoot up and become even overvalued. Usually you're better off buying something else that can be stored and sold at a later time.

[Anonymous No.49818867]

>>49818826
>seriously pop and in the process of falling 50% or more from where prices currently are
this is not going to happen, we are heading to hyperinflation, or just high inflation at best for the nest 2 years

[Anonymous No.49818880]

>>49813232
still stackin gold and silver
never buyin the crypto "dip"
simple as
dont like it?
seethe

[Anonymous No.49818905]

>>49818856
>Have said this in other gold threads.
well you can stop now
because it's retarded

[Anonymous No.49818963]

Ingotcels carrying gold to the post apoc market just to find out nobody wants to be making investments or jewelry in a crisis world. Dies of starvation.

[Anonymous No.49818987]

>>49818867
That's my point. The Fed knows that if they're not careful, financial assets will suddenly plummet in price. When you have a bubble this big and things are that grossly overpriced, you get something of a trapdoor function in the price curve where the price of things such as equities or bonds can fall 20% or more in a few minutes.

It is because of this trapdoor that the Fed will likely end all monetary tightening and resort of more easy money policies or, that failing, new ways such as buying equities of keeping the bubble inflated.

Due to the extreme inflationary bias of the Fed, gold is not going to fall sustantially in price due to a debt deflation. The only way gold falls dramatically in price is if the world for some reason repudiates the use of gold as a store of value. Hasn't happened in thousands of years so far and I don't see any credible reason now or in the immediate future.

[Anonymous No.49819074]

>>49818987
there is the other way, and that is that we magically found a lot of gold, which happened recently in Uganda
There is more gold in their deposits than all gold mined previously in the whole history
gold is going down

[Anonymous No.49819098]

>>49813232
That’s what silver is for retard

[Anonymous No.49819099]

>>49818856
Oh no! My investment might become over-valued? Whatever shall I do if that happens? I certainly would not want to trade my over-valued commodity for anything I need. That would just be unfair. The fair thing to do would be to wait until the value of my over-valued commodity falls to a more appropriate level and only THEN trade it for things I need.

Seriously, are you retarded?

[Anonymous No.49819103]

>>49819074
thats cute
he believes the uganda FUD
next he'll tell us about the gold asteroids

[Anonymous No.49819132]

>>49819074
And I found a golden asteroid in my backyard. I will be king of the world. Just believe me because I said it.

[Anonymous No.49819156]

>>49819103
Ha! You beat me!

[Anonymous No.49819178]

>>49813232
if you are in a crisis trading in gold makes you a target for bandits

[Anonymous No.49819304]

>>49817694
The amount of PM seething during a crytpo crash is the only reason i come to Biz. Whenever i think about the obsecene amounts of money people like yourself are losing, i cant help but to get mentally violent. Youve bankrupted your entire families future and i can only look like pic rel

[Anonymous No.49819540]

>>49819074
The Uganda "find" has pretty much been debunked as a massive lie. There's an infinitessimally small probability that it is real but to that I say, "Show me the gold."

Some numbers to prove my point. The claim is that there are 33 million tons of gold ore from which 320,000 tons of pure gold can be extracted. Here's the math:

1. 320,000 tons of pure gold is more gold than every gram of gold ever found which has been unearthed from 6 *continents*. We're supposed to believe that by comparison the relatively minuscule land area of the Ugandan find has a bonanza of gold exceeding those all the gold mined from all the other places?

2. 320,000 tons is approximately 1% of 33 million tons. This implies that for every 1 ton (1,000 kg) of ore, there is 10 kg of pure gold. Very good quality mines yield about 12 grams of gold per ton of ore. The Ugandan claim is that their gold strike has a concentration of gold 1,000 times greater than that of a very good, very profitable mine.

Leave it to the very low IQ Africans to not understand mathematics to create such an easily disprovable fiction. Note that Newmont and Barrick (I believe both got burned in the BRE-X scandal) are not nibbling at this sad bait at all.

[Anonymous No.49819619]

>>49819099
>My investment might become over-valued?

What I'm saying is it is already probably over-valued.

[Anonymous No.49819746]

>>49816158
you tribalists are so fucking cringe. i made $500k from crypto last year. i also own physical gold and silver. you're a fucking moron.

[Anonymous No.49819843]

>>49819619
seethe and dilate

>>49819746
seethe and dilate

[Anonymous No.49820205]

>>49815522
>bro just baghold this paperweight rock for 50 years to end up with the same buying power as you started with
Do you dumb retards really not understand the meaning of a HEDGE?!
People gamble on shitcoins to get rich, you cannot get rich holding gold the same way as speculative/technology assets.
You can buy the same amount of stuff with 1 oz today that you could in the 1500s. Thats both the blessing and the curse
Gold = protecting wealth, gold is useless for those that dont have the wealth in the first place.

[Anonymous No.49820276]

>>49817584
Might as well stack chinese gold plated bars, the average normie doesnt know shit about gold, they dont know the price, dont know how to verify its real, dont know about the carat etc.
Most normies would he sussed out
>bro trust me this is 18k gold worth 100$
They realistically couldn't verify it without an acid test, and those acid tests expire in a few years. So in a shtf scenetio gold would be a pain in the ass now that nobody knows shit about it

[Anonymous No.49820436]

>>49818880
Your the one seething Kek.
Crypto chads made crazy gains, you have been crabbing for 20 years.
What I noticed is, pm fags always absolutely seethe about crypto, while crypto fags barely take pm fags seriously, they laugh and joke about them.

>y..yeah im so glad I bought a silver coin in 2010 instead of bitcoins..haha...

[Anonymous No.49820469]

>>49820436
only thing I've noticed is a bunch of crypto fags making PM FUD threads as their shitty scams go to zero

[Anonymous No.49820516]

>>49813322
Rather suck dicks for food than give up me gold yarrr I love me booty too much

[Anonymous No.49820695]

In a crisis situation, exchanges will involve working debt's more often than exchanges of gold.

[Anonymous No.49820740]

>>49813232
How much flour you got stacked?

[Anonymous No.49821049]

>>49814492
>why is it that gold was used as currency for thousands of years through periods of famine, war, disease and other apocalyptic events that caused 50%+ civilian casualties, but the moment the jews take over our monetary system (early 20th century) using gold is somehow unfeasible
That's something I never got with gold fudders
Gold has been used throughout millennia of chaos, through famines, war devastation (hundred years war), the black death and basically through periods of complete civilisational collapse where any notion of state authority was nominal at best
Throughout all these shitstorms gold always retained its value and stood to define the very concept of wealth, while any notion of currency "losing value" or even "becoming worthless" was without exception the result of monarchs reducing the percentage of gold/silver in coinage and replacing it with cheap shit (infamous practice of the "bad" roman emperors)

So why is it that in a hypothetical modern economic disaster (not even complete collapse), gold will somehow lose this historically proven property and magically turn into a shiny worthless rock?
Do you have any theories other than your wishful thinking?
I don't own gold because my networth isn't high enough to justify it yet, but I am not emotional or delusional enough to disregard the very concept of precious metals as "outdated"

[Anonymous No.49821100]

>>49820469
This posters has zero gains. /pmg/ is a shitshow of "haha crypto is crashing", why does your main pleasure in investments seem to come from the "failure" (ignoring the multiple x1000s that have happened in the last 4 years) of others? Why are you allergic to gains?