Global Depression 2022 - Time to do the Breadline Boogaloo!

[Dammit Mandrake!]

This might be a controversial question, but seriously, who is going to give a shit about gold?

You can't eat it, what practical service does it have other than being rare and looking kind of pretty? Any value gold actually has has just been pretense and I don't think 21st century humans are going to give a shit.

Pussy, bullets, food, shelter, alcohol and drugs are going to be more valuable than gold in some shit hitting the fan scenario, it's hilarious to me that boomers think gold is some magical cure all to avoid economic trouble.

lol never change Dom, you fucking retard.

 

[ToroidalBoat]

All I know is I sure miss 2002, how the hell is that year almost 20 fucking years ago already?

The 2010s were a blur indeed.

 

[Kujo Jotaro]

This might be a controversial question, but seriously, who is going to give a shit about gold?

You can't eat it, what practical service does it have other than being rare and looking kind of pretty? Any value gold actually has has just been pretense and I don't think 21st century humans are going to give a shit.

Pussy, bullets, food, shelter, alcohol and drugs are going to be more valuable than gold in some shit hitting the fan scenario, it's hilarious to me that boomers think gold is some magical cure all to avoid economic trouble.

Think a little bit harder.

 

[AlephOne2Many]

This might be a controversial question, but seriously, who is going to give a shit about gold?

You can't eat it...

I beg to differ...

 

[FAQnews Correspondent]

This might be a controversial question, but seriously, who is going to give a shit about gold?

Now you can give gold shits.

 

[Dom Cruise]

Gold is more of a preserving wealth while the violent transition from one economic system to another passes. Look at any hyperinflation ridden shitholes present and past you can still trade your gold chain for money and assets on the black market regardless of the fuckery . In chile for example working cars were rare and worth a lot but that passed once the economic system stabilized but your gold worth same as it was during the hyperinflation, prior and after . Sure it's harder to trade it for tools, food and materials but still hold value and is guaranteed to hold universally across countries and cultures.

My point is you don't know during shtf what will be valuable and what not even medicine and food is hit and miss. Same for drugs and alcohol . But gold is engraved in human psyche as vaulble thing and is the easiest to hold , transport and barter with

But it's just weird because what practical value does it really have other than jewelry or decoration and who's going to give a shit about that if they're starving?

You can't fuck it, eat it, get high off it, get drunk off it nor is it very practical as a weapon, I mean I guess you can technically eat it, but it won't keep you alive.

The 2010s were a blur indeed.

It's nothing less than insane to me to think of 2011 being a decade ago, 2012 being close to it and 2013 being the better part of a decade ago.

Especially in the case of 2013, which in many ways feels like yesterday to me, what the fuck happened?

 

[Look over there]

so far the 2020s kind of suck



(it could be nice if one could book a rocket flight off of what Futurama calls a "primitive dirtball inhabited by psychotic apes")

 

[ToroidalBoat]

It's nothing less than insane to me to think of 2011 being a decade ago, 2012 being close to it and 2013 being the better part of a decade ago.

When I think of how long ago the time of 2011 "feels without numbers", it really does feel recent.

But then when I look at the numbers themselves, 2011 really is 10 years ago, so I can see how it feels crazy.

For example, Skyrim feels like a recent game, but it came out about a decade ago.

 

[Sped Xing]

People talking like the only two options are status quo and Mad Max are talking themselves out of good ideas.

Sure, keeping some precious metals under your floorboards won't do shit for you when the Fiends show up with Laser RCWs, but in a less extreme scenario your kilogram bar of silver could still be worth a week's expenses, while your current weekly paycheck barely buys a stick of gum.

I'm very happy to own a farm in currentyear, but while that's certainly dumb advice, "just completely change your entire way of life, bro!" many people have enough land to make a dandy little vegetable garden, or keep three hens, or a rabbit hutch. While in the utter doom scenario Haitian raiders will torch your sweet corn and rape your bunnies, in the "things get 1930s" scenario, it could really make your life more secure. In the status quo scenario, you've traded a worthless patch of Saint Augustine for a delightful hobby.

So, tldr, preparations for the more likely future are a better use of your time. Training to run a 14 minute 3 mile and shoot the mustache off a flea at 1000 yards shouldn't be your only strategy. You're probably not a Rambo-in-waiting, but even Jersh can grow a pepper plant.

 

[z0mb0]

Learn to make booze. people like the guy who can make booze.

 

[Dom Cruise]

When I think of how long ago the time of 2011 "feels without numbers", it really does feel recent.

But then when I look at the numbers themselves, 2011 really is 10 years ago, so I can see how it feels crazy.

For example, Skyrim feels like a recent game, but it came out about a decade ago.

Skyrim's a great example, it's like "what? Ten years already?"

Morrowind was less than a decade old when Skyrim came out, but the gap betwen Morrowind and Skyrim felt large, hell, the wait between Oblivion and Skyrim felt like a long time.

But now Skyrim still feels like a fairly recent game, maybe it's because it's been re-released over 9000 times.

 

[tehpope]

Been getting into Silver. Haven't bought some in a few months, but I have a small amount. Its cheap and physical. If you have the cash for it, Gold is probably better in the long run. I watch Gregory Mannarino on yt and he seems to have his finger on the pulse of the market.

 

[Michael Janke]

I beg to differ...

food grade gold.
biggest waste of money ever.

 

[Kujo Jotaro]

But it's just weird because what practical value does it really have other than jewelry or decoration and who's going to give a shit about that if they're starving?

You can't fuck it, eat it, get high off it, get drunk off it nor is it very practical as a weapon, I mean I guess you can technically eat it, but it won't keep you alive.



It's nothing less than insane to me to think of 2011 being a decade ago, 2012 being close to it and 2013 being the better part of a decade ago.

Especially in the case of 2013, which in many ways feels like yesterday to me, what the fuck happened?

Barter isn't a sustainable system of exchange beyond a certain distance/quantity, never mind the headaches involved with matching value between two different goods. Yes in a true SHTF type of situation PM's probably won't do you any good, but I don't think most people expect it to get to mad max levels. Hyperinflation is scary, it can leave a lot of people hungry and destitute, it can cause the collapse of businesses small and large, any number of economic catastrophe's could follow hyperinflation. The important take away from the history of hyperinflation is that it can't reign eternal, eventually the circus comes to a close, and a new tent is pitched in its place.

The market can't operate without a true system of exchange, in Weimar when their currency hyperinflated they turned to PM's as well as foreign currencies (which were also backed by PM's). Your assertion that gold has no inherent value is true enough, its not used in many industrial or commercial use case's outside of jewelry; however you're ignoring the extensive history Gold and Silver have had as currencies, and the powerful effect that has on their current and future value.

Simply put the market demands a medium through which to transfer value, if not gold then what? You say that in the 21st century most would not value PM's so what would they value? Crypto? LOL, don't get me wrong I own some crypto myself, and I think it's a neat thing, but it's a long way from being a viable currency; right now crypto simply exists as a speculative asset, perhaps the largest speculative asset the public has ever had easy access to. Crypto also has it's own version of the fed propping it up, and (if you take bitcoin maxi's at their word) much of bitcoins price action is predicated on the idea that its encryption system's are unbreakable. "there will only every be 22 million bitcoins" appeals to finitude fall flat, at least for me, when they're made towards a digital asset. Not to mention that bitcoin necessitates both electricity, and internet access; there are a lot of things predicating the value of bitcoin, none of which are guarantee's.

If you're really concerned about tangible asset's having some sort of functional value you can invest in any number of other things such as land, machinery, perhaps even illicit substances as you proposed. That being said your best bet would probably be silver, constitutional coinage is easily recognizable, and widely known to contain silver; in a true SHTF situation I would expect that to be one of the first medium's of exchange to reemerge. Gold is not a medium of exchange during a hyperinflationary period, its for wealth preservation once a new currency is established(maybe you could buy some land or real-estate during hyperinflation).

 

[StuffedBallot]

many people have enough land to make a dandy little vegetable garden, or keep three hens, or a rabbit hutch.

3 hens, given you picked up the correct breed, will produce enough eggs for a family of 4 to have a breakfast of eggs every day. And if you don't fancy eggs for every breakfast, or even every day, your fridge will rapidly fill up with egg cartons, and you'll get into delicious preservation strategies like pickling eggs.

 

[mindlessobserver]

What's the alternative to crypto?

Physical Gold and Silver, Land, a brand new car, etc. I've been prepping for the long jump all year, so I got the land and silver. Crypto is as overvalued as every other asset class so if we have a crash it's going to crash with everything else.

Gold and Silver I think are undervalued. Central banks and governments have been keeping the market for both depressed for decades. So pre crash those are probably the best position to be in, along with Stocks in mining companies.

Crypto will recover though, so if you end up bag holding when the plunge happens just hodl through the long winter of our discontent.

 

[Shamash]

Question for all you economics aficionados, when will there actually be a collapse that affects the broad mass of the population? Or will this miserable situation of slowly declining real living standards propped by up debt and hedonism go on indefinitely?

 

[mindlessobserver]

Question for all you economics aficionados, when will there actually be a collapse that affects the broad mass of the population? Or will this miserable situation of slowly declining real living standards propped by up debt and hedonism go on indefinitely?

If you could accurately predict WHEN a crash is going to happen you would be an absurdly wealthy person. People saw issues with the economy back in 2006 and the market partied on for another 2 years.

 

[Shamash]

If you could accurately predict WHEN a crash is going to happen you would be an absurdly wealthy person.

I dunno, people have predicted collapse since 2008 and before. Sure, some people sink but there has never been a great depression level fall in living standards.

Apart of me wonders if the economy can be kept wheezing along indefinitely now that the Fed can just print money ad infinitum until the end of time?

Or am I wrong?

 

[mindlessobserver]

I dunno, people have predicted collapse since 2008 and before. Sure, some people sink but there has never been a great depression level fall in living standards.

Apart of me wonders if the economy can be kept wheezing along indefinitely now that the Fed can just print money ad infinitum until the end of time?

Or am I wrong?

Some very smart people seem to think it can. They call it modern money theory and it essentially boils down to how Orc Technology works in 40k, or how tinkerbell can come back to life. If you believe REALLY HARD shit just works.

I think they are full of shit. Our economy certainly seems to be running on Looney Tunes rules, but eventually gravity asserts itself and the Coyote stops floating on air. The issue is just how much debt is out there and just how much of it is denominated in USD. If the Fed keeps that money printer going, eventually inflation is going to start taking lenders to the cleaners. The interest rate on my Mortgage is around 2.5%, but with core inflation at 8%, the banks money is literally sitting on my front lawn burning merrily.

Eventually the Fed is going to have to do things. Stop the money printer, which would cause an immediate credit freeze and the banks to go under....or raise the benchmark interest rate, which will immediately bankrupt a huge chunk of the individual debtors and the more over leveraged corporations.

It's a damned if you do, fucked if you don't situation for the central banks right now.