Originally published at: https://boingboing.net/2020/07/27/gold-hits-record-high-as-tensi.html
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Bitcoin spiking over the weekend as well…
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Always though gold was a peculiar basis for value. It’s not as if you can eat rarity.
The I realised that’s the whole point.
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Oh, boy, it’s up 28%! Now’s a fantastic time to buy, right? That’s what the commercials are telling me, so it must be true.
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Meanwhile, Johan Jooste of The Global CIO Office told CNBC’s “Street Signs” on Monday that there’s a “horrible feeling of chasing it a bit after the fact” if investors enter the gold market now.
If you didn’t get in back in April it’s a sucker’s bet now, unless you’re a full-time speculator with tens of thousands of dollars to invest in single commodities.
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The US dollar is heading for a crash. Having some gold would nice.
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Gold is worth its weight in microSDcards
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Or a lot of fixed interest rate debt.
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I got a “Is Now the Right Time to Buy Gold” yesterday and I said to myself “No, but apparently it is the right time to try to sucker people into it”
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I felt a great disturbance in the Force. As if millions of voices cried out “HODL”, and were suddenly silenced.
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I noticed that too. It’s been quite the climb so far. If it gets to Ferrari level I might have to cash out! (so much wishful thinking)
One thing that most post-apocalyptic mythos agree on is that currency and/or precious metals are pretty much worthless.
So either this isn’t the end of things, things will get better, and gold is going to lose this prepper value, or it is the apocalypse and you should be investing in car parts, firepower, and aqua-cola…
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Bought a bunch when coronavirus popped up in the US. Please tell your elderly friends: NOW IS THE TIME TO BUY. I thank them in advance for their participation,
^ Exactly this ^. REAL value is in seeds, air, water. The essential, baseline shit that everyone absolutely has to have.
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I must be out of touch, I thought Mercury Dimes is where it’s at?
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Record high gold price in $USD means record low value of $USD, right? The DJT Plague & Depression march onward.
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And we haven’t even priced in the recent extra trillions of debt on top of the trillion we already had, and then after that the extra crash from perhaps no longer being the reserve currency for the entire globe, if it gets bad enough (i.e. worse than the other major currencies).
Looks like it’s time to scrap and refine the gold off of the boxes of accumulated fingerboards, CPUs, etc…, and make a trip to a jeweler…
TBH, it’s pretty easy to refine, and you definitely don’t need to go the sodium cyanide route.
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