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Posted: 1/26/2021 9:18:43 PM EDT
[#1]
Quote HistoryQuoted: Crypto is the new gold How will crypto function after an EMP? |
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Posted: 1/26/2021 9:21:18 PM EDT
[#2]
Thought I’d add this since I haven’t seen it mentioned yet:
Corn is up over a $1.50 in the past few months (that’s a big move). So are wheat, soybeans, and sunflowers. These markets have been stagnant for almost 6 years. So people are definitely putting money into physical assets. Just not gold apparently. |
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Posted: 1/26/2021 9:22:49 PM EDT
[#3]
Quote HistoryQuoted: Could you explain on a 5th grader level? @Regency Some things like savings accounts, money market accounts, Certificate of Deposits, etc are time deposits. There are usually restrictions on withdrawals. Your checking account however is a on-demand deposit. The bank has to have that cash available for you. M1 and M2 are different measures of currency and credit in circulation. M1 is a component of M2. So M1 + others = M2. If checking accounts are part if M1 and CDs are part of other, money is moving from other to M1. It's like 4 + 4 = 8 going to 7 + 1 = 8. 8 being M2. It's shuffling the numbers around. You would move money from time deposits to on-demand deposits if you are worried you won't get your money back. In 2008 we were hours away from money markets freezing. If that happened, who knows if or when you would get your money.  Is the Spike in M1 a Harbinger? |
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Posted: 1/26/2021 9:27:37 PM EDT
[#4]
What if we were going to have hyper inflation, but the COVID lockdowns were too successful and created deflation by happenstance. Temporary deflation before hyperinflation?
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Posted: 1/26/2021 9:30:19 PM EDT
[#5]
While the money supply has grown, the velocity of money has dropped, significantly offsetting the inflationary potential.
To put it in perspective, $100 changing hands 10 times in ten days is much the same as $10 changing hands 100 times in the same timeframe. This idea is also why inflation can go exponential so easily once it is out of control. When people start changing their spending habits for inflation, they stop holding onto cash. This increases the velocity of money, which makes the effective circulating supply larger because the same money changes hands so quickly. |
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Posted: 1/26/2021 9:34:57 PM EDT
[#6]
Quote HistoryQuoted: I bought a grand of AMC yesterday. It was at like 4 and change so I knew worst case scenario it wasn't going to move much. It's up 70% since I purchase it  Buy meme stocks  I bought it at close today and I'm up 65% lol |
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Posted: 1/26/2021 9:38:14 PM EDT
[#7]
Quote HistoryQuoted: I wouldn't buy it. What good is it? It's a hunk of metal with literally no use. Oh come on now, you would rather have $20,000 in paper money than my little tin box?  |
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Posted: 1/26/2021 9:43:46 PM EDT
[#8]
Quote HistoryQuoted: Oh come on now, you would rather have $20,000 in paper money than my little tin box? https://www.ar15.com/media/mediaFiles/335547/DB8490FC-D9E1-4B7A-B8CA-6E5282C381D5-1798354.jpg Quote HistoryQuoted: Quoted: I wouldn't buy it. What good is it? It's a hunk of metal with literally no use. Oh come on now, you would rather have $20,000 in paper money than my little tin box? https://www.ar15.com/media/mediaFiles/335547/DB8490FC-D9E1-4B7A-B8CA-6E5282C381D5-1798354.jpg No. But I believe there's better places to park the $20k. |
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Posted: 1/26/2021 9:46:57 PM EDT
[#9]
Quote HistoryQuoted: Oh come on now, you would rather have $20,000 in paper money than my little tin box? https://www.ar15.com/media/mediaFiles/335547/DB8490FC-D9E1-4B7A-B8CA-6E5282C381D5-1798354.jpg  Attached File |
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Posted: 1/26/2021 9:47:07 PM EDT
[#10]
Quote HistoryQuoted: Oh come on now, you would rather have $20,000 in paper money than my little tin box? https://www.ar15.com/media/mediaFiles/335547/DB8490FC-D9E1-4B7A-B8CA-6E5282C381D5-1798354.jpg I would much rather have $20k in a well diversified portfolio than shiny yellow metal coins that no one will take in exchange for anything I actually want. |
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Posted: 1/26/2021 9:47:08 PM EDT
[#11]
Get junk silver dimes - in a pinch you can load them into 12 guage shotshells and use them on Werewolves and Vampires.
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Posted: 1/26/2021 9:47:44 PM EDT
[#12]
Quote HistoryQuoted: Because people realize shiny trinkets won't do shit for you if the dollar really collapses. Exactly this. |
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Posted: 1/26/2021 9:48:29 PM EDT
[#13]
Quote HistoryQuoted: I would much rather have $20k in a well diversified portfolio than shiny yellow metal coins that no one will take in exchange for anything I actually want. Why can't you do both? Isn't this ARFCOM? Gold isn't an investment. Its a protection of your wealth for when/if things go tits up. |
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Posted: 1/26/2021 9:48:38 PM EDT
[#14]
Central banks manipulating the exchange rate.
The financial sector not realizing paper = Monopoly money. Idiot speculators in crypto who don’t realize it isn’t money. |
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Posted: 1/26/2021 9:49:12 PM EDT
[#15]
Quote HistoryQuoted: At least gold can be a physical asset. Worst comes to worse I can beat someone over the head with a brick of it. Can't say the same about some zeros and ones Quote HistoryQuoted: Quoted: Crypto is the new gold At least gold can be a physical asset. Worst comes to worse I can beat someone over the head with a brick of it. Can't say the same about some zeros and ones The same could be said for your 401k, stocks etc. |
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Posted: 1/26/2021 9:52:24 PM EDT
[#16]
Quote HistoryQuoted: What if we were going to have hyper inflation, but the COVID lockdowns were too successful and created deflation by happenstance. Temporary deflation before hyperinflation? From what I understand there always is "deflation before hyperinflation" but like you said it's temporary and short lived. I think it has something to do with the human mind, it's the process we go though as we lose faith in the currency. Part of what you see with Price Of Gold is gold is normally sold off to cover debits or margin calls and it's the price of fake paper gold. |
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Posted: 1/26/2021 9:57:45 PM EDT
[#17]
The very same people that are saying gold and silver are worthless are the very same people that can't buy squat when the computers crash and their debit cards don't work. Because they also say carrying cash is stupid also.
Trust me I've seen this happen first hand. Here in Florida after hurricanes and phone lines and power are out. Cell phones don't work too sometimes in certain areas. No cash your screwed. To say the samething about a currency that's been used throughout known history. Well OK then. People flip out when everything stops working. I saw a few become violent because they could not buy food, water or gas because plastic does not work. Gold, silver and even cash does work. In the real world. Especially during emergencies. I'd take gold and silver in a heart beat as a currency as do some other places will. Privately own of coarse. Wal-Mart won't even take cash when power goes out to be fair. LOL by ma and pop stores will. I do not buy gold or silver as an investment. I invest other ways. I do buy gold and silver though. As a physical asset |
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Posted: 1/26/2021 9:57:53 PM EDT
[#18]
Personally, I feel gold is artificially propped up! Gold is found somewhere between 5x to 8x more than silver and silver has become the go to electrical conductor.
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Posted: 1/26/2021 10:03:33 PM EDT
[#19]
Quote HistoryQuoted: Crypto has been going down too. Quote HistoryQuoted: Quoted: Crypto is the new gold Crypto has been going down too. It's all in gamestop calls. |
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Posted: 1/26/2021 10:04:20 PM EDT
[#20]
People are ditching gold for more tangible items like B,B,&B.
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Posted: 1/26/2021 10:04:50 PM EDT
[#21]
Quote HistoryQuoted: I bought it at close today and I'm up 65% lol Quote HistoryQuoted: Quoted: I bought a grand of AMC yesterday. It was at like 4 and change so I knew worst case scenario it wasn't going to move much. It's up 70% since I purchase it Buy meme stocks I bought it at close today and I'm up 65% lol 
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Posted: 1/26/2021 10:13:17 PM EDT
[#22]
Quote HistoryQuoted: Yup, gold is the boomers folly. What can you buy with bar of gold exactly? My friend bought a house and car with bitcoin. Quote HistoryQuoted: Quoted: Crypto is the new gold Yup, gold is the boomers folly. What can you buy with bar of gold exactly? My friend bought a house and car with bitcoin. Therin lies the problem. Sure, it has "value"... but how would one exactly use it in a transaction nowadays? |
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Posted: 1/26/2021 10:19:15 PM EDT
[#23]
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Posted: 1/26/2021 10:19:23 PM EDT
[#24]
Quote HistoryQuoted: Therin lies the problem. Sure, it has "value"... but how would one exactly use it in a transaction nowadays? Quote HistoryQuoted: Quoted: Quoted: Crypto is the new gold Yup, gold is the boomers folly. What can you buy with bar of gold exactly? My friend bought a house and car with bitcoin. Therin lies the problem. Sure, it has "value"... but how would one exactly use it in a transaction nowadays? It sucks. And converting to spot also sucks. My .02. |
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Posted: 1/26/2021 10:20:31 PM EDT
[#25]
Quote HistoryQuoted: Oh come on now, you would rather have $20,000 in paper money than my little tin box? https://www.ar15.com/media/mediaFiles/335547/DB8490FC-D9E1-4B7A-B8CA-6E5282C381D5-1798354.jpg I'd rather have the $20000 in cash. I'd have to sell the gold to get the cash to use for shit I actually need/want. If the dollar reaches the point that people won't accept it, they sure as fuck aren't going to want gold either. |
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Posted: 1/26/2021 10:26:22 PM EDT
[#26]
People are realizing brass and lead are better commodities for the coming future.
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Posted: 1/26/2021 10:28:51 PM EDT
[#27]
Quote HistoryQuoted: Oh come on now, you would rather have $20,000 in paper money than my little tin box? https://www.ar15.com/media/mediaFiles/335547/DB8490FC-D9E1-4B7A-B8CA-6E5282C381D5-1798354.jpg I would rather have lambos on the moon and you dont get there with gold. 
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Posted: 1/26/2021 10:31:44 PM EDT
[#28]
Quote HistoryQuoted: Aren’t we almost there, for 9mm and 5.56/.223? Quote HistoryQuoted: Quoted: In SHTF, if someone came to me asking to trade his gold for my ammo, gasoline, whatever, I say sure. I will give you a box of 9mm or 5 gals. of gas for your Krugerrand.. Aren’t we almost there, for 9mm and 5.56/.223? Lol. In a true scenario like that you will still have all your stuff PLUS his gold. For SHTF Gold and metals are as worthless as dirt. Ammo, guns, food, shelter. Lib neighbors not “gun people”.....now you have their supplies. |
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Posted: 1/26/2021 10:33:05 PM EDT
[#29]
Quote HistoryQuoted: Once upon a time, horse and buggy were our main mode of transportation. Then came a little thing called the "automobile". Eventually, there's a better way. Quote HistoryQuoted: Quoted: Quoted: Crypto is the new gold Lol. You are comparing something with absolutely zero intrinsic value to something that has been valued as long as humans can remember. Once upon a time, horse and buggy were our main mode of transportation. Then came a little thing called the "automobile". Eventually, there's a better way. When electronics and jewelry go the way of the horse and buggy you can say “I told you so” until then gold has a lot of utility outside of being used as a currency. |
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Posted: 1/26/2021 10:33:10 PM EDT
[#30]
Quote HistoryQuoted: Why can't you do both? Isn't this ARFCOM? Gold isn't an investment. Its a protection of your wealth for when/if things go tits up. Like I said, that Krug you paid $1200 for I will take for a box of my 9mm or you can go pound sand. If you don't buy it, I will sell the 9mm to some slouch who will use it to take your Krug and everything else you own. How is that protection for wealth? |
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Posted: 1/26/2021 10:34:51 PM EDT
[#31]
Quote HistoryThis is funny because it's true. |
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Posted: 1/26/2021 10:35:06 PM EDT
[#32]
OP is a fuckin dummie!
Gold has been aprox the same price for some time! WTF are you breaking down about?
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Posted: 1/26/2021 10:35:27 PM EDT
[#33]
Quote HistoryQuoted: Oh come on now, you would rather have $20,000 in paper money than my little tin box? https://www.ar15.com/media/mediaFiles/335547/DB8490FC-D9E1-4B7A-B8CA-6E5282C381D5-1798354.jpg Quote HistoryQuoted: Quoted: I wouldn't buy it. What good is it? It's a hunk of metal with literally no use. Oh come on now, you would rather have $20,000 in paper money than my little tin box? https://www.ar15.com/media/mediaFiles/335547/DB8490FC-D9E1-4B7A-B8CA-6E5282C381D5-1798354.jpg Yes, because I can use that paper for any purchase I'd need to make walking out the door tomorrow. Not to mention if the dollar crashes, there's no guarantee that your 20k of shiny bits could buy a loaf of bread either. It ain't like the local grocery store clerk has a usd/au ratio print out. |
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Posted: 1/26/2021 10:35:29 PM EDT
[#34]
Quote HistoryQuoted: People are realizing brass and lead are better commodities for the coming future. Don't forget copper. |
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Posted: 1/26/2021 10:35:48 PM EDT
[#35]
Quote HistoryQuoted: When electronics and jewelry go the way of the horse and buggy you can say “I told you so” until then gold has a lot of utility outside of being used as a currency. What was is it used for in a pre industrial world? Price of a well made suit! Gold has always been sought after because its shiny and doesnt oxidize. |
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Posted: 1/26/2021 10:38:09 PM EDT
[#36]
Quote HistoryQuoted: I'd rather have the $20000 in cash. I'd have to sell the gold to get the cash to use for shit I actually need/want. If the dollar reaches the point that people won't accept it, they sure as fuck aren't going to want gold either. Dude I don't know about that..... I think the SAS still issues sovereigns to troops going into high risk locations. EVERYONE takes gold when things are shitty.... Brits have been doing it for over a hundred years. And I have a personal story about seeing gold used as currency in a dicey situation, working in spite of language barrier, and not much trust, but gold made the deal work. So it works in 3rd world crap holes in times of war.... and your saying you don't think it will work hear??? I think people hear might actually know less, but I think they will learn QUICK if there's trouble with the US dollar. |
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Posted: 1/26/2021 10:38:21 PM EDT
[#37]
Quote HistoryQuoted: I wouldn't buy it. What good is it? It's a hunk of metal with literally no use. Quote HistoryQuoted: Quoted: This 3 inch by 3 inch box has $20,000 in it. It’s not that much of a liability, it’s a 3 inch tin box. https://www.ar15.com/media/mediaFiles/335547/D706B98C-51D3-4E22-87D4-851BFCF859A7-1798279.jpg I wouldn't buy it. What good is it? It's a hunk of metal with literally no use. You literally have no idea what you are talking about. |
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Posted: 1/26/2021 10:41:07 PM EDT
[#38]
Quote HistoryQuoted: People are realizing brass and lead are better commodities for the coming future. Aww the semi precious metals. A joke I have heard a few times, if you have Au or Ag, you really should also be stocking some OS. OS???? Ordinance and Steel. I always laugh when I hear someone say OS. |
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Posted: 1/26/2021 10:46:49 PM EDT
[#39]
Quote HistoryQuoted: Why can't you do both? Isn't this ARFCOM? Gold isn't an investment. Its a protection of your wealth for when/if things go tits up. Quote HistoryQuoted: Quoted: I would much rather have $20k in a well diversified portfolio than shiny yellow metal coins that no one will take in exchange for anything I actually want. Why can't you do both? Isn't this ARFCOM? Gold isn't an investment. Its a protection of your wealth for when/if things go tits up. Thats the problem, wealth only means something if you can actually use it. If you can’t convince your local warlord to part with a rusted can of spaghetti-os because he has no use for a gold coin, what good is it? It doesn't protect wealth if it isn't easily bartered. And even if you could convince someone to trade, that 1k in gold could get you a skunked six pack of natty lite and a stale twinkie. Gold is worthwhile in a stable economy with the means to utilize it. In a collapsed state? It's likely it won't protect shit imho. Maybe after a societal rebuild, I suppose. |
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Posted: 1/26/2021 10:48:21 PM EDT
[#40]
Quote HistoryQuoted: The price of gold isn’t real gold, it’s paper gold. So easily manipulated. What are you talking about, i can go down town and buy ounces of silver and or gold any day. I live in a small remote town, it gets easier in a city. |
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Posted: 1/26/2021 10:48:24 PM EDT
[#41]
Quote HistoryQuoted: When electronics and jewelry go the way of the horse and buggy you can say “I told you so” until then gold has a lot of utility outside of being used as a currency. Quote HistoryQuoted: Quoted: Quoted: Quoted: Crypto is the new gold Lol. You are comparing something with absolutely zero intrinsic value to something that has been valued as long as humans can remember. Once upon a time, horse and buggy were our main mode of transportation. Then came a little thing called the "automobile". Eventually, there's a better way. When electronics and jewelry go the way of the horse and buggy you can say “I told you so” until then gold has a lot of utility outside of being used as a currency. I didn't say gold didn't have utility uses to retain some value. My simile with the horse is gold just isn't a very good or practical store of wealth today so expecting some astronomical gold price simply given the world's state of affairs of money printing is likely folly by OP. People still use horses for a multitude of purposes, but the automobile is still a better means of transportation and most people don't find horses all that useful today or even own them at all. Same will happen with gold in that it will continue having industrial use and value, but as a store of wealth it isn't that great and something will eventually take its place with better liquidity, function, and acceptance as we move further into the digital age. Gold will go up long-term, just don't expect it to wow you like other opportunities. It isn't a matter of "told you so". It's a matter of "where are we headed? and "what makes sense when we get there?" |
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Posted: 1/26/2021 10:49:03 PM EDT
[#42]
Gold is a fear trade. The economy is doing well so people are moving back into stocks. Now is the time to buy gold
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Posted: 1/26/2021 10:50:12 PM EDT
[#43]
Gone up 800 an ounce since I bought a little. Nothing I have ever bought has gone up as much except HK P7. Banks are sure a hole to put money in. I was making 8 times the interest in 2011 that I am making in 2021.
The stock market is being manipulated beyond any logical theories in any books |
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Posted: 1/26/2021 10:51:31 PM EDT
[#44]
Quote HistoryQuoted: How will crypto function after an EMP? You mean when your iPhone battery is dead. |
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Posted: 1/26/2021 10:52:41 PM EDT
[#45]
Gold is artificially suppressed to make dollars look like they have value.
Per the debt clock gold is $34,461 an oz and silver is $186.40 an oz. https://usdebtclock.org/ Be grateful that metals are manipulated down as it is. |
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Posted: 1/26/2021 10:53:53 PM EDT
[#46]
Quote HistoryQuoted: Ha! That’s why I have fool proof digital crypto currency! Right up until a CME or EMP.......lol |
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Posted: 1/26/2021 10:55:20 PM EDT
[#47]
Quote HistoryQuoted: You mean when your iPhone battery is dead. I love how gold will be the means of barter, but before we make this transaction let me break out my acid scale and graduated cylinder to make sure its not fake. Which reminds me I should buy some to the Chinese tungsten filled coins for my preps. |
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Posted: 1/26/2021 10:56:21 PM EDT
[#48]
It's almost like gold has no intrinsic value and its price is as arbitrary as anything else that only has value because people believe it does.
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Posted: 1/26/2021 10:59:07 PM EDT
[#49]
Quote HistoryQuoted: Right up until a CME or EMP.......lol Quote HistoryQuoted: Quoted: Ha! That’s why I have fool proof digital crypto currency! Right up until a CME or EMP.......lol So the argument against crypto is always because an EMP may occur wiping out the grid? Going to worry about a lot more shit first than how much gold I have stacked at that point. Fucking world will go 180 and upside down from what we know anyhow then. Humans will do everything in their power and in short order to get that grid working again. BTC will still be there and if an EMP wipes me here I just leave here for somewhere unaffected to regain access. Or is it a global EMP ushering in the next Dark Ages? |
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Posted: 1/26/2021 10:59:51 PM EDT
[#50]
Quote HistoryQuoted: It's almost like gold has no intrinsic value and its price is as arbitrary as anything else that only has value because people believe it does. Like, say...a dollar?
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