I’ve never had enough money to just buy an ounce of gold. But where would I even store it for safekeeping? I wouldn’t want to keep it in a safe deposit box because if the bank goes belly up, then what was the purpose? And I’d feel super paranoid having it at home. But mainly, if SHTF, and one needs to leave the country, there’s nothing stopping the government from passing a few laws that prevent you from leaving the country with your gold, or even better, confiscate it like they did in the past. I like the idea of it, I just don’t find it super practical. Another point is that if you need to have peer to peer transaction, gold is not readily divisible. You won’t be able to pay your neighbor a whole ounce for a chicken, say. Those are my concerns.
Thus the value of companies like Glint and CyberMetals which allow you to buy fractional gold (tiny amounts) without price penalties and store it for you in a safe. And with a system like Glint you can spend it as if it was cash (via credit card) or transfer it to another person.
However in "SHTF" scenarios where civilization collapses, that is when you want physical gold and silver.
Gold is not a solution for every possible scenario. But it covers many. Take for example a case where runaway inflation hits absurd levels like 100%. Cash becomes "worthless" very quickly but gold retains it's value. This has occurred many times, in many countries. It's naive to believe it can't happy to us.
Then of course there are my closing words that investing in your own health and education is truly the best investment you can make. (especially if you don't have much cash)
I’ve never had enough money to just buy an ounce of gold. But where would I even store it for safekeeping? I wouldn’t want to keep it in a safe deposit box because if the bank goes belly up, then what was the purpose? And I’d feel super paranoid having it at home. But mainly, if SHTF, and one needs to leave the country, there’s nothing stopping the government from passing a few laws that prevent you from leaving the country with your gold, or even better, confiscate it like they did in the past. I like the idea of it, I just don’t find it super practical. Another point is that if you need to have peer to peer transaction, gold is not readily divisible. You won’t be able to pay your neighbor a whole ounce for a chicken, say. Those are my concerns.
Thus the value of companies like Glint and CyberMetals which allow you to buy fractional gold (tiny amounts) without price penalties and store it for you in a safe. And with a system like Glint you can spend it as if it was cash (via credit card) or transfer it to another person.
However in "SHTF" scenarios where civilization collapses, that is when you want physical gold and silver.
Gold is not a solution for every possible scenario. But it covers many. Take for example a case where runaway inflation hits absurd levels like 100%. Cash becomes "worthless" very quickly but gold retains it's value. This has occurred many times, in many countries. It's naive to believe it can't happy to us.
Then of course there are my closing words that investing in your own health and education is truly the best investment you can make. (especially if you don't have much cash)
Agreed about investing in health and knowledge. Doing that every day. 💪 📖 trying to impart it on my sons too.
{giggle} Pounding knowledge into your children's heads can be frustratingly challenging. {smile}
We do the best we can. :)