You are viewing a single comment's thread from:
RE: Relationship Between Gold and Debt
Another factor to consider are the effects of inflation that depreciates the currencies.As commodities rise in price due the the dollar falling in value, which includes the blind faith in Fiat and debt instruments. This is a ticking time bomb which would cause a mad rush into precious metals. You thought the rise of crypto was something, you have not seen anything yet. Great post @outwalking.
Yes, I was remiss by not addressing inflation. In my opinion, I believe that a barter system will emerge in many areas but not all. Regarding cyptos, they will depend on the internet. If the net goes down in areas, cryptos will be of not use in those areas. Fiat will be toilet paper like the bolivar is in Venezuela and I think the governments know this, that is why they are pushing people to go cashless. Metal will not be the panacea or the 'silver bullet' so to speak. Just envision trying to buy a loaf of bread (let's say it costs a dollar) with an ounce of gold (let's say it is worth $1,000) how is the bread guy going to give you change? This is the reason dollars came to be. Bitcoin offers a solution but the problem is bitcoin is intangible as it only exists in a virtual world, it is totally reliant on the net. I appreciate your insight, it gets me thinking, thank you.
Well, here is one solution. Fractional silver, and the one gram gold that can also be broken off. I bought these a while back, also available in bar type. The romans did this quite often to make change..
Yes, the is a good idea for gold they came out with a credit card sized ingot that you could separate into grams. It is called a CombiBar.
Another way is to buy junk silver.