I know people out there who have invested a lot in gold under the belief that in the event of like complete societal collapse or hyperinflation, they could use it for purchasing.

I have the hunch it’s a scam, but I haven’t learned enough monetary theory, business, or economics to understand why.

  • tired_n_bored@lemmy.world
    210·
    1 month ago

    You can have liquid, premium-free gold by buying an ETF/ETC. Whether you hold it or not is irrelevant in case of hyperinflation. Stashing it away may be useful only if you like to touch it I guess

    • diablexical@sh.itjust.works
      81·
      1 month ago

      Executive Order 6102

      If it can be taken from you with the stroke of a pen, then it isn’t yours. Gold financial products are useful speculative assets but not for calamity insurance.

      • tired_n_bored@lemmy.world
        11·
        1 month ago

        ETFs may be useless in case of a calamity (in that case I’d stash bullets and canned food, not gold) but they’re useful for hyperinflation scenarios because the financial system keeps working. See Turkey and Argentina