Posted: Feb 23, 2019 6:17 am
by Hermit
jamest wrote:There is no intrinsic value in any fiat currency

As opposed to...?

If or when fiat currencies go down the gurgler, cryptocurrencies will not be worth the paper they're written on either. Certainly less than the money you paid for the thumb drive or other memory chip you use as a wallet for your digital hoard.

If the situation gets bad enough, gold will be no use for you either. You can't eat it. Unlike with a dollar, pound, mark, lira or yen note, you can't even wipe your bum with it. Only people with food security and a food supply that exceeds their current and future needs might just swap one of their eggs for an ounce of your gold.

A better contingency plan for ameliorating the effects of a catastrophic collapse of the economic system is to invest in items such as guns, bullets, batteries and toilet paper.

Most of my assets are tied up in the shape of my home. I have owned my homes outright since about 2002 and have no intention of selling my current abode, so I basically don't give a fuck what its market value is.