| |
| ▲ | jack_pp 3 hours ago | parent | next [-] | | How does holding gold protect from devaluation? No one has currency backed by gold any more. | | |
| ▲ | skybrian 38 minutes ago | parent | next [-] | | I don't think holding gold does much, but in theory, a central bank could prop up its currency by selling the gold. It's like selling any other asset. | |
| ▲ | scotty79 3 hours ago | parent | prev [-] | | > How does holding gold protect from devaluation? I think the idea is to rise the value of your currency, you rise the demand for your currency, by selling for it something that everybody wants, like gold. Of course this demand is artificial and you'll run out of hold to sell at some point, but it can hopefully carry you over thd bump. | | |
| ▲ | irishcoffee 3 hours ago | parent [-] | | I still don’t get it. Why does everyone want gold? Its uses are some types of electronics and jewelry. Almost seems like crypto, it has value because it is somewhat rare… and everyone else also thinks it has value. Sincere question. | | |
| ▲ | iamnothere 3 hours ago | parent | next [-] | | It’s similar to the valuation of crypto, being based on scarcity and mutual agreement, but without the risk of losing your funds from hacks or bugs, and without the benefit of online transfer. You can put it in a hole in the ground and it will be the exact same in 50 years. It’s shiny and has a history. Nations like to use it for reserves because it’s stable, historically fit for the purpose of exchange, and well-understood. You can “count” it and use this to settle balances in a way that outsiders can’t easily interfere with. Almost all “value” is strange and complex. Why is Francium, which is less useful than even gold, worth a theoretical $28 billion per ounce? (Not that you would find any buyers for that quantity.) Why is a Black Lotus card worth $3 million? Why is a dollar worth whatever you can buy for a dollar? | | | |
| ▲ | Supermancho 3 hours ago | parent | prev | next [-] | | Gold ingot relative rarity + desirability + physical durability means it's a 'physical good' that is likely to retain value above a relative floor...ie it will always be worth something to someone, and virtually every country tracks their own estimate. Gold is a standard element of trade historically as it's a little difficult to steal (easier to defend physically) while being fairly simple to verify and measure. | |
| ▲ | _ache_ 3 hours ago | parent | prev | next [-] | | The value of Gold isn't linked to any currency.
Money is just paper (or a number) and can be de-valuated. Gold doesn't. | |
| ▲ | theendisney 3 hours ago | parent | prev | next [-] | | To trade with Anunnaki. They need it to repair Nibiru's failing atmosphere. | | |
| ▲ | KellyCriterion 3 hours ago | parent [-] | | LOL Massivly surprised to see a link to this storyline/paradigm here on HN, great! Cheers! :-)) | | |
| ▲ | theendisney 2 hours ago | parent [-] | | You'd be surprised what livered onions go for on Zeta Reticula. | | |
| ▲ | KellyCriterion 2 hours ago | parent [-] | | I really like this conspiracy behind this story/tale! If you belive in such stories, it may explain why humans are so focused on Gold, and not other precious metals, which are much more rare. The idea behind the story is just great, isnt it? The idea of whatever space travelling species to come here to mine for gold with human "robots" is really cool. While they could have landed on asteroids which much more Gold-per-ton, they chosed earth because the bio machines available here didnt need any "outer planetary" maintenance or refills? :-D edit: and they can replicate easily given enough environment, so you do not need spareparts when e.g. a disk fails? | | |
| ▲ | theendisney 33 minutes ago | parent [-] | | You can see it is true in how well we folow instructions but as soon as we build any kind of hierarchy we act like we are in a tunnel chiseling riches as if there wont be food end of the shift. Ï would design them like that, no uprising, no revolution, no union. Their biggest fear, universal basic income, no more digging. Half a million years later we are still at it. Innovation is like, rock music, bitcoin mining, minecraft etc Pretty deep |
|
|
|
| |
| ▲ | AnimalMuppet 2 hours ago | parent | prev | next [-] | | Gold has been valued across almost all cultures for thousands of years. That creates an expectation that it will still be valued. And, gold is limited (in recoverable quantities) in Earth's crust. Nobody can print a bunch more of it, unlike fiat currency. Between those two, it's what many people reach for when they fear that the government is going to devalue their currency. They can buy now, with currency that will soon be worth less, and what they buy will be worth something even after the currency becomes worth less. | |
| ▲ | scotty79 3 hours ago | parent | prev [-] | | > Why does everyone want gold? Because you sell it cheap. > Almost seems like crypto, it has value because it is somewhat rare… and everyone else also thinks it has value. Exactly. It has value because it won't spoil and you can sell it later gor the same or more because it's scarce. |
|
|
| |
| ▲ | _ache_ 3 hours ago | parent | prev | next [-] | | If you have USD and you think it will value less soon, you change it to gold instead.
If you own gold in the US and think that the USD value will drop very low, you move out of the USD fearing gold retention. | | |
| ▲ | ericmay 2 hours ago | parent [-] | | But there isn’t a good reason to think that since countries such as Italy, UK, France, and others are in much worse financial positions. A lot of this stuff is just business as usual, and then tabloids like to turn it into some doom and gloom nonsense. | | |
| |
| ▲ | scotty79 3 hours ago | parent | prev [-] | | If you sell something in US, you get paid in US dollars. If you believe dollars soon won't be worth the paper they are printed on, you immediately spend dollars on something that has durable value and take it with you instead. |
|
