We will survive it if it really will happen. If its a global economic crisis, that would mean there will be war but I don't see that happening actually when the other side like the China and Russia ain't up to war. These countries seem not experiencing anything in their economy other than going up. Warren will always spread fear, he loves doing that because he wants to invest, the old dog is getting old.
Few people realize this, but I think there is a high probability for gold to go down in price in the years to come. Around 80% of all gold consumed each year goes for making jewelry. Imagine what if wearing gold comes out of fashion? It's not hard to imagine for me because most people I know don't wear gold. It is considered as something old-fashioned already, not by everyone, of course, but by those who want to keep up with the times. People have been wearing gold for many centuries because it made them look richer than they were. But being rich is not what is considered cool nowadays, right?
Many people consider gold a safe haven, never bothering to look at the charts.
Quote from: https://goldprice.org/
But look closely. During the past 40 years gold wasn't always the right thing to invest in. If someone bought gold in September 1980, what was awaiting them were years and years of frustration, until when in September 2007, 27 years later, gold price reached the same level, and started to rise. As of more recent years, those who bought gold in August 2011 are still waiting for the price at least at the same level.
I mean, history shows that, even without going out of fashion, gold shouldn't be always considered a good investment. I'm not trying to say that Bitcoin or anything else should, no. But gold shouldn't either.
Gold is definitely not something to invest because we have to wait ages to get some sort of profits but it does not worth the waiting period but gold can be used as a secured way of storing money by converting it into gold as gold is at least upto the market value of fiat if not profitable.
If one 1 gram of gold costed $5 before 15 year it now costs around $50 now and the expenses has inflated as well so I would say gold can be used as savings to match up to market inflation rather than storing the money as fiat but it's not a successful source for investment.
It feels like you didn't read my post, and didn't take a look at the graph there. The point is that gold is not a secure way of storing money. Look at the graph. Many of those who invested in gold in 1980 and in 2011 lost significant amount of their money. I bet most of those who invested in 1980 cashed out earlier (with a loss) without waiting 27 years. And how many years those who bought gold in August 2011 should wait until they can just get their money back is a big question.
