GOLD

[zombie no.one]

^They started something like that in Brazil.... Barter clubs, and they were pretty successful at the time, but I don't know how they're doing now...^
Somebody tried the same thing in several American cities, but they couldn't gain enough interest......

yeah I mean, it's not very economically viable (or whatever the clever-sounding term would be)

but the point is no one can walk in a shop to buy something and demand the owner takes their coins/notes because it's 'legal tender'...

the shop owner can refuse a sale for any reason at all, unless the reason is prejudice against a protected characteristic of the customer (i.e. age, race, gender, disability etc)

I had to be on top of all this stuff in my previous job.

it's possible there might be slightly different laws in the US but I don't think so.

[Trevor]

I see that those in charge in my birth country of Zimbabwe are now going back to a gold based currency in order to prop up a struggling economy with skyrocketing inflation 😔

[Rev. Powell]

Rev-  Gold might not have tons of "intrinsic value" but it has a lot more than paper bills. If you had German marks in a safe somewhere they'd be utterly worthless now.

Off topic, but this made me interested in looking up what people did with old Deutchmarks. Turns out lots of people are saving them for some reason: https://www.dw.com/en/free-money-why-are-billions-of-german-marks-still-floating-around/a-67875558

You can still exchange them for Euros at a fixed rate.

[Alex]

Gold is heavy to transport and not particularly useful by itself. If society was to collapse it would not be my currency of choice. Hell, Fallouts bottlecaps would be a better idea than trying to carry a lot of that stuff around. Food, water, alcohol, cigarettes and toilet paper would be my bets for what to trade in.

[Alex]

Oh and weapons (inc ammo).

[lester1/2jr]

You can still exchange them for Euros at a fixed rate.

okay bad example. the point is paper money is made of paper. speaking of which

I see that those in charge in my birth country of Zimbabwe are now going back to a gold based currency in order to prop up a struggling economy with skyrocketing inflation 😔

a better example.

[lester1/2jr]

Food, water, alcohol, cigarettes and toilet paper would be my bets for what to trade in.

Well again, the selling point here isn't the absolute end of the world as we know it, it's inflation which is caused, generally speaking, by printing excessive amounts of currency. Would you want to be paid one ounce of gold or ten quadrillion Zimbabwe dollars which might be worth even less in a month

[LilCerberus]

I think America used to have several different bills...
These days, we all use the Federal Reserve Note...
The Lindberg kidnapper was found by using a discontinued Gold Reserve Note...
In the movie Flashpoint (1984) Kris Kristofferson goes to a rare coin shop to ask about a Silver Reserve Note...

[lester1/2jr]

^ in the Underdog opening credits, Shoeshine boy bites the coin to see if it's real and not a softer lead based (counterfeit) one

[LilCerberus]

I'm also reminded how Butch Cassidy & The Sundance Kid were betrayed after using a railroad bond....

At the time, railroad bonds became preferable to cash, as they were insurable and easy to trace if stolen, thus making them legal tender at the time...

[Alex]

Food, water, alcohol, cigarettes and toilet paper would be my bets for what to trade in.

Well again, the selling point here isn't the absolute end of the world as we know it, it's inflation which is caused, generally speaking, by printing excessive amounts of currency. Would you want to be paid one ounce of gold or ten quadrillion Zimbabwe dollars which might be worth even less in a month

Since Zimbabwe has just launched a new currency, I'd take the dollars as a future investment. I'd gamble on even a small increase in it value beating any increase in value in an ounce of gold, due to the sheer numbers involved in ten quadrillion. With those figures a tiny increase is going to make you vastly more wealthy. Even if it takes a couple of decades to improve you'd still end up much better off. Of course, there is a chance the value will crash further, but any investment has that element. An ounce of gold might make you a little bit of money, but not that much. I mean an ounce of gold today is only worth what, $500 more than it was 4 years ago?

[lester1/2jr]

Alex- ahh but the new currency is new because it is now backed by gold!! so we're back where we started

I mean an ounce of gold today is only worth what, $500 more than it was 4 years ago?

oil is worth more or less the same as it was 4 years ago / pre covid.  gold is commodity not a stock

it's something you would have in place of cash not like owning Tesla or something

it's not any kind of great investment it's just crazy that it's going up again. or slightly interesting or not at all depending on your perspective

[LilCerberus]

Kopi Luwak.....

[Rev. Powell]

Kopi Luwak.....

Uh, OK? 

[LilCerberus]

Kopi Luwak.....

Uh, OK? 

It's Lemur $#*t...
And people think it's worth a fortune for some reason.....