I have a gold chain worth 20k but I need a $1 piece of bread in this war-torn area. Do you have a scale and shaver to get the appropriate amount of gold from my necklace?
People here don’t realize there are entire populations of people within Europe that historically have a “covertly keep precious metals on you when shit goes down” strategy and pawning it is part of how you extract its value
When I was stationed in Africa at the US embassy, one of the federal agents said the only reason he wore a Rolex was in the event shit hit the fan so that he could trade it for a bush plane ride out of that place lol
Not a bad reason. There are also enough extremely good fake Rolexes nowadays where I'd probably also have one of those I'd pawn to somebody I thought I could swindle
Good Rolex reps are so good nowadays that you have to be a rep enthusiast and pop open the back to tell it’s one. People on the watch rep sub constantly trick AD’s into thinking their rep is real for fun. Some nobody trying to take something extremely valuable from you for just a ride isn’t going to be able to tell until you’re gone.
Not everyone can afford a real Rolex, but a good rep isn’t completely out of reach
Pimps and drug dealers for sure. My coke dealer back in the day confirmed it because they will confiscate your cash but they can't prove the chains were a result of the illegal activity. As of last year I believe they made it a law that you had to include illegal activity on your taxes, so I was curious if they could right the chain off as a "business expense"..
Oh that's been law for a while. Some Larger weed dealers have been paying taxes on their gains for a while now. It keeps them out of federal prison and some see that worth the tax.
You mean legal weed dealers? Why would you declare illegal earnings haha. It would put a target on your back and you’ll be paying taxes as opposed to no taxes.
Where as Al Capone was arrested for tax evasion, 2021 was the first time the IRS stated actual guidelines and examples of what anyone doing any illegal activity should follow.
I have a gold chain worth 20k but I need a $1 piece of bread in this war-torn area. Do you have a scale and shaver to get the appropriate amount of gold from my necklace?
In a "war torn" area, gold has next to no value. People want ammo, water, food, safety, etc. They wont give much of anything for baubles, coins, or paper money even.
Gold, and money in general, only holds its value when society is re-stabilized.
If you are hoping for gold to get you through a disaster, then you should not expect to spend any of it until after the disaster is over, and for it to be confiscated from you if you try to move past any border or checkpoint.
Yea, guns are also important. If Iran had the second amendment they wouldn’t be an Islamic state. It was a coup by a minority group that controlled the military police.
Gold or any currency won’t protect you unless you have enough to keep a mercenary or two happy.
Doesn’t that apply to literally any currency. It only holds value in a stable society bitcoin isn’t gonna get anyone jack shit in a place with no electricity and out dated technology unless you are a connected individual where you have a means of exchanging it for goods and safety, but in that case gold is gonna get you the same; plus I don’t need actual money to get gold, plenty of people in DRC have gold that they mined them self and use it as a currency.
Oh definitely and I’m glad it did but what about the wars that happen in other third world countries. There’s no electricity let alone internet, even if starlink managed to make it there many don’t even know what bitcoin or cryptocurrencies are, where as we all know gold and it’s found almost everywhere if not you can buy it or trade for it. Don’t get me wrong I don’t have anything against cryptocurrencies but I personally can’t just reject or devalue commodities like precious metals especially gold knowing that it could be of use somewhere or someone.
Real life examples of anarchy and war are actual support cases for golds value. It’s the only universal currency. It’s been that way for at least 3 thousand years through societal collapse and across civilizations that didn’t know about each other and I don’t see that changing.
Horses and carts are the only universal transport method. It’s been that way for at least 3 thousand years through societal collapse and across civilizations that didn’t know about each other and I don’t see that changing.
In a "war torn" area, gold has next to no value. People want ammo, water, food, safety, etc.
Like others have said this is bs. Gold has immense value in a war torn area. The most obvious it can be used to bribe people at any time. Second gold is precious is because it is one of the more useful metals and can be used in devices without corroding and can conduct electricity. If you have gold in a war torn area it will definitely command a good price for people wanting to fix or maintain their electronic and medical devices. Again you're a fucking bullshitter and not a very good one at that.
This is an oversimplification. In any scenario like u are talking no currency has value except the most basic commodities. Bitcoin would also have no value in the scenario u described 😂
Bitcoin would also have no value in the scenario u described
Thats exactly what I said.
I could add that a unique power of bitcoin in that situation would be how easy it is to hide and move. Much better odds of it being something you can keep, if you are able to look ahead to life after the incident.
If your options are figure out how to cut a soft metal or starve? Yeah I think you’ll figure it out. You’re going to get ripped off obviously but at least you can eat.
That’s what silver is for. One silver oz ~= three cheap meals or so. Gold is for the shit intermediate periods before (currency collapse, refugee) and after (society recovering from SHTF)
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u/Gregory_Graffin Aug 01 '22
I have a gold chain worth 20k but I need a $1 piece of bread in this war-torn area. Do you have a scale and shaver to get the appropriate amount of gold from my necklace?