When CBDC is implemented people will understand the value of gold and silver. Once again gold and silver will be the only physical money to exist..
When people understand the value of gold and silver they will use it for its original purpose.Seems to me that PMs only have value if they can be sold / converted to government fiat. When CBDCs are ushered in, that government fiat will be the CBDCs. All other currencies will be deemed illegal. They’re not going to exchange CBDCs for pms. If there was an industrial need for your gold, it would be purchased with CBDC. For a time, PM holders may trade between themselves on black markets, but how would value be determined when their is no government currency to peg it to? CBDCs will render pms and crypto worthless I believe.
Many US states have legalized gold as legal tender, and others are presently in the process of doing the same.I keep hearing this from PM bugs yet nowhere on earth has been the case in the past 50+ years (realistically much longer excluding isolated events), even in 3rd world countries. PM use will never be used outside of very limited use cases no matter what the global conditions are. Delusional fantasies of romanticized dystopian futures where every single thing that could go wrong has gone wrong to justify the long term use of PMs is the .00001% scenario so many of you are banking on. I'd prefer to prep for scenarios that are orders of magnitude more likely.
The genie is out of the bottle, humanity will have electricity and internet access moving forward. There will be no permanent return to the stone age because the path has already been tread and the heavy lifting done. Localized disruptions in electricity and internet sure, potentially even for extended periods of time, but that's it. If Africans in the middle of nowhere, individuals in war torn countries, and people during massive natural disasters use technology now, guess what, it'll be available and used in the future too no matter the global calamity.
What it does mean is that people will be very happy to use gold as moneyWhich I 100% support! That doesn't mean that human nature will drastically change.
Sometimes people don't do what they are told. It's been done before.Except it won't be allowed. Once they clamp down on us with the CBDC, the narrative will be that PMs are the "currency of terrorists." I would not be surprised if possession of gold/silver bullion is made illegal. It's been done before.
China and Russia are members of the WEF, they want CBDC's too.Yes, some governments have been stockpiling gold I will admit. At the same time, some are positioning themselves to force CBDCs upon us. That would be a contradiction of agenda, and it is a little confusing. I think the breakdown is this - the more Communist favorable governments lean towards nationalism versus globalism. China and Russia are gathering gold while the woke nations under the thumb of the deep state globalists like the U.S. are moving towards CBDCs. Just my observation.
I can not say what they want to do, but I can say without doubt that they are all members of the WEF.Are you sure sovereign governments are formally members of the WEF? I think the globalists embedded within worldwide governments are steering them towards it, but I don't think governments are formally considered as members. Do the oligarchs of Russia or the CCP leadership really want to share the power of the one world order with other globalists in the WEF?
Why do you consider a fiat currency necessary as a peg for gold ? I bought my first ounce of gold about 12 years ago for $1330 CAD, today that ounce of gold is worth $2731 CAD, yet it buys approximately the same as it did when I initially bought it.... How do you determine the value of a Canadian dollar ?Without a fiat to peg it's value to, how do you determine how much value an ounce of gold is worth? I'm not trying to badger you, I'm really curious how this would work.
For gold and silver, there are only a few ounces per capita worldwide. Meanwhile, the same population wants higher wages, better returns on their investment, borrow and spend more, etc.
Increasing the value of each ounce is pointless; you might as well drop any way to create a standard.
Also, as pointed out earlier, gold and silver are promissory notes, just like money; that is, besides any applications that are not relevant when things fall apart.
Gold and silver have been used as money for literally thousands of years, more recently is has been used to back the dollar. A problem has only arisen since the gold standard was dropped in 1971. Precious metals are the only proven way to go, there is no other.It's use as currency is limited by it's capacity to be divided, and dividing it sucks and is inefficient. There' not enough gold and silver in the world to facilitate trade. At best it could be used by large groups of people to facilitate large trade deals, but Joe Q public isn't going to use it for every day trade, ever. Eventually after even the most destructive TEOTWAWKI event imaginable, people will always return to paper fiat, digital fiat, and potentially decentralized crypto. PMs will never be a long term standard.
I get it, PM guys want to be proven right and want to come into survival scenarios sitting pretty like kings with their stashes they've collected over the past 50 years... it's never happening the way so many in here think it will.
Invest in guns, ammo, food, land, water/filtration/collection, solar, distilleries, tools, and any number of things that will prove far more valuable first. Invest in your mental, physical, spiritual, and social health, your knowledge/skills, literally everything before PMs. PMs are the very last thing that any logical prepper should be expending valuable time, energy and money on collecting.
Gold backed paper currency is rarely if ever what I hear mentioned in here when discussing survival scenarios. I'm not inherently against a gold backed currency, it would be superior to the funny money we've used for three generations now. I am against fractional (or no reserve as we currently have) reserve banking and massive expansion of fiat money supply that outpaces population growth by several times over and enriches the elite while enslaving the poor and middle class.
95% of the time when PM guys on here discuss this topic it's "electricity bad, Grog only trust physical gold". Gold backed currency, which would obviously sooner or later be used digitally, is perfectly fine, although I doubt I see any governments do so in my lifetime.
For my entire lifetime, gold has been a mediocre preserver of wealth and for the past 20 years it's been outpaced by literally everything under the sun. That trend will likely continue until a complete collapse.
Yes my ounce of gold can buy $2731 worth of goods, but the amount of goods it buys is more or less the same as it was 12 years ago, and yes in order to realize the $2731 in Canadian dollars I would need to exchange the gold to $. If the government were to buy my gold I would think they would simply do what they did in the US, they would pay the full amount for it and then raise it's value when they had it all in hand, thereby devaluing the $. Collectable gold coins and tom foolery were not affected.I don't view it as your gold can buy $2731 CAD worth of goods. Your gold must first be converted to the CAD in order to realize / spend the value of that gold. Once CBDCs are in place, there won't be CAD to convert your gold to. Wanting to remove PMs from circulation, the government(s) might buy your gold, but they're not going to pay what you deem it was worth in CAD. I doubt they would even bother buying it at all however.
They used to be money and they still are. US and Canadian mint issued gold and silver coins have face value and are legal tender.They used to be money. They aren't anymore, not without conversion. It would take the worst case, long term dystopian nightmare for humans worldwide to even try resorting back to PMs for daily exchange. There are billions more humans on the planet now that would need to utilize it than there were back in antiquity. There wouldn't be enough gold and silver to go around.
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If gold were to appreciate in value, then that would obviously give more value to any currency tied to it. Letting it float rather than fixing it would be the way to go. I can't see how that would increase monetary supply, monetary value would rise and fall with the value of gold....... It would keep politicians more honest.It's pointless because the purpose of a gold standard is to have a fixed amount and thus avoid increasing money supply.
Gold and siver are promissory notes because they have limited practical purposes, i.e., generally too soft and too heavy to be used for tools, armor, and weapons. What makes them practical is that they can be used as money because they're durable. And money is essentially a promissory note: a medium of exchange for trade.
That's why when things fall apart they become worthless. It's like that scene from the novel The Road, where a man and boy in a post-apocalytpic are looking for ammo and food. They find a box of coins made from precious metals, look at the coins momentarily, and then throw them away.
That's not to say that people should start throwing away gold and silver. Hold on to them for trade, but they won't save a capitalist economy that's needs more than physical media for exchange.
Yes, gold is essentially the same as fiat currency in that regard..Gold has a value in the mind of the holder on any given day because of the price in fiat money that the holder paid for it essentially.
It might be more realistic to pretend that gold existed as money long before the worldwide grid existed..Now pretend one of the dystopian fantasies plays out, let's say a CME wipes out the grid worldwide. Return to grid up is expected to be years away. How much is an ounce of gold worth? Who determines it and how?
Sounds reasonable.When PMs were originally used, there were not fiat dollars to buy them with, and traders just had to work out a mutual agreement of value between them.
If you paid one ounce of gold for a cow before the grid went down what's stopping you having the same value in mind after the grid goes down ?But now, people have a specific value in mind. Because they paid X amount in fiat for that ounce of gold, they are probably going to expect it to be worth that in the CME grid down existence. That won't be the case.
How is that any different to how things are now ?So you find yourself without a grid, gasoline is getting almost impossible to find, and you just got a flat tire. You're wife is stuck an hour away and you need to go get her. A guy down the road has a tire that will fit your car and enough gas to get you to your wife and back. How much gold are you going to pay him? His asking price is 5 oz. of gold. If you don't pay it, someone else will eventually. What is the value of them NO MATTER WHAT
Can't speak for Themanwithnoname, but I use fiat dollars to show the value of gold, as that's the official way gold is valued, and it's what most people understand.The fact that you have to use dollars to measure the value of gold shows your arguments falling apart.
My point is that many people do not think CBDC's will make all other forms of money irrelevant, and neither do governments worldwide, they are hoarding gold like there is no tomorrow.The point is we are not talking about how things are now. The thread is about CBDCs. The conversation is about "then" after CBDCs make all other currency irrelevant. You might think that an oz of gold is still work X amount, and perhaps a trading / bartering partner will as well. I suspect that that mutual agreement of value would have a short life span however. Eventually, "then" gold barterers / traders are going to need to buy something with which only CBDCs can be used to purchase with. Perhaps they have traded gold for cows or services or etc, and believe they have 100K worth of gold in pms but they want to buy a $80K new truck. The dealership will not / cannot accept their gold. Who is going to buy their gold with CBDCs so they can go buy that truck? PMs will be deemed illegal once CBDCs are implemented. They may be able to skirt the law and barter gold privately for some items. They may be able to buy all the cows they want with gold. But eventually, they are going to need their wealth to buy that truck. And PMs will not be an option.
These PM discussions are losing site of the premise of the thread title.
I think EVERYONE understands the value of gold. I have trouble understanding why some people have a problem with it. What am I missing ?The Jews bribed the Nazi guards at the border with gold coins
Pirate ships had gold as their most valuable cargo of transport
Kings horded gold coins
India, China, and Russia have been buying gold in the last ten years by the metric ton, guess why?
Our government (Roosevelt) STOLE the peoples gold with an executive order, to turn it in!
Our government wants you to turn in your guns too. Why? Because it makes you easier to control.
Why do they want your gold? Because it makes you easier to control, you can leave this country with your gold and start over ANYWHERE else in the world.
Case closed, you guys can argue about until you turn blue!