this post was submitted on 05 Oct 2023
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Costco now sells gold bars. Are they a good investment? (www.cbc.ca)
submitted 1 year ago by grte@lemmy.ca to c/canada@lemmy.ca
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[–] HubertManne@kbin.social 5 points 1 year ago (2 children)

yes but if the world collapses you could trade that gold bar for a chicken if you needed to.

[–] CADmonkey@lemmy.world 4 points 1 year ago* (last edited 1 year ago) (1 children)

Would you be able to do that? Or would the person with the chickens rather have something more immediately useful like fuel, soap, or feed?

[–] HubertManne@kbin.social 3 points 1 year ago (1 children)

yeah so again its really a joke around folks that buy gold for a collapse when it would be better to have something useful and the gold bar can't be easily subdivided. Im sure gold will be a thing even in a collapse but the modern cost of it is so high it makes no sense in a trade situation.

[–] ininewcrow@lemmy.ca 3 points 1 year ago* (last edited 1 year ago) (2 children)

Which is why all the rich people are buying up land and property ... an old farmer friend of mine once told me a long time ago, land is the most important thing to own, there's only a limited supply, they don't make it any more and there will always be someone who wants it. Especially when the world comes to an end

[–] prodigalsorcerer@lemmy.ca 2 points 1 year ago (1 children)

In an actual collapse situation, nobody is going to respect property rights. He may have a head start in that he's familiar with his own land, but there's only so much land a single person can defend and maintain (and it's much smaller than even a hobby farm).

Best case scenario for farmers is that they mostly get left alone, and then someone (everyone) steals their crops just before harvest. It's unlikely people will have that much foresight, so I expect it's just going to be a bunch of fighting over farmland, followed by starvation because no one had time to grow anything.

[–] ininewcrow@lemmy.ca 1 points 1 year ago

Part of the process is not what you will be left with after the collapse happens. You are right, no one will care about property rights or ownership during and after a collapse.

Part of the process is in building wealth before the collapse happens. The wealthy are building and hording wealth of all types right now ... property, hardware and shelter ... while at the same time building monetary wealth that will help them after the fact. Whoever has the most wealth right now or right at the moment of the collapse will be the ones who will survive the longest.

Those that have little to no wealth right now or at the moment of the collapse will be the first ones fighting some ugly conflicts over food and water while the rich hide in their defended small plots of land.

The poor will do the fighting and dying among themselves while the rich will sit quietly watching the fireworks from far away.

[–] HubertManne@kbin.social 2 points 1 year ago

I guess this makes sense if society is holding together well enough but if it is then you can likely sell gold for currency.