I’m very naive when it comes to gold and other precious metals. My question is, if times are bad (which is a very broad word), what will you then do with the gold? I guess the first question would be, what is defined as a bad time?
If there is inflation, paper money loses its value. When paper money lost a lot of value, the value of gold increased, that is, you can buy more things with it.
In a total collapse of paper money, people use gold and silver as money.
That’s a tough thing for sure! Bad for some might not be bad for others. Essentially, physical gold and other metals will remain generally stable when markets go up and down. They have real value when things like fiat currency fails. You’re not going to get rich investing in gold, but you’ll have stability.
Gold is traditionally used in third world countries with collapsed currencies to bribe police and other authorities.
We are working on getting there—forward, comrades!
It’s a means of exchange of goods and services if the wheels fall off. Someone on this board stated that if things got bad, lead is the most precious metal. Other items for consideration to have on hand is bottles of alcohol. People want their booze in good times and bad.