Topic: Central Bank: If The Entire System Collapses, Gold Will Be Needed To Start Over (Read 874 times)

The fiat system of states is unlikely to collapse overnight. In the world, the economy is always weaker in some states, stronger in others. At the same time, periodic financial crises not only have a bad effect on the development of the economy, but also bring certain benefits to it. At all times, they complained about the imperfection of the financial system of states, but it continues to exist and so far there is no worthy and effective alternative to it.
Gold, like every financial asset, has its advantages and disadvantages. There is nothing ideal in our rough physical world. Therefore, we use different assets as money in relation to the current situation, and this is probably correct.

Yes. this is very interesting to follow..I also ask myself is it possible that we all will be able to pay at the end of the story using only 2 (two) types of payment modes, namely BTC and Gold..??

Another relevant thread which could use a bump.

It’s too difficult for layman to even tell the real gold, remember countless of people getting into buying fake gold scams Ponzi scheme that later on the investors who bought the custodial paper gold contracts, now worth nothing after the scam company getting exposed and all the fund collected get into nobody know whose fault and care anymore. I doubt people are getting smarter today or even have the prowess to actually doing all the tedious procedure of detecting counterfeit gold. I would tell you when central bank get into gold, the entire gold market would face the same fate of fiat, getting extreme inflation, irresponsible quantitative easing, all for the benefit of their self gain, and milking every last person who have faith on gold and sell their bunch of questionable gold products, many possibilities, you can’t trust bank to handle the gold again just like we trust them with fiat money but we get in return are a wobbling problem that would destroy entire generation.

In our world, not only gold has eternal constant value. Real estate, gas and oil reserves, precious stones and metals, antique products and much more are of almost constant value. Of course, gold has always been the basis of value.
However, I see no reason why our common value system should collapse. Economic crises have been, are and will always be periodically. They have both a negative impact on the global economy and a positive one. However, for the whole system of our values ​​to collapse, in my opinion, there is no such great danger.

Gold always had a value for human kind and that probably will never change. However, in the digital era it's oldfashioned and as far as I.know countries don't back up their national currencies in gold anymore. That is why remains unclear how could gold help to start over. Maybe for individuals but not for economy and financial systems in general.

This is nothing more than just a wrong view or point of view

The truth is, gold is rock-solid on its own. I'm damn sure you are looking at the dynamic of gold prices in dollars. But it is not gold that changes its value against the dollar as it is the value of the dollar (as well as that of other fiat currencies), present and expected, that fluctuates wildly (at times) against gold. It is a pretty common mistake. Just keep in mind that every equation has two sides to it, and if you change one side, the other should be adjusted accordingly

Gold is the best option only if you want to store your excess monthly earning and nothing more. The downside of gold is the fluctuation that is just as volatile as cryptos but in a smaller scale because the higher market cap. If I have some wealth that I need to keep and to avoid the currency or fiat fluctuation which gets worse and worse by the time passes, gold is very good. Otherwise, just invest to something that can give you passive income. However, I heard that silver is getting the bullish market as of now, and I always consider gold and silver as equal in term of investment.

I constantly read reviews of cryptocurrency users about their opinions regarding investments in gold and each statement is different from each other.  But as for me personally, I would not use gold for trade, but gold is suitable as savings, just in case.  Perhaps in the future we will face situations where no currency can resist the real precious metal.

After investors loss a fortune on betting the share market, in return they get warning letters for messing up their share market. How does it feel? It felt like marriage to a nasty wife, who later on decide to go off grid and dump you when you’re broke and also take the child along with her and ask for alimony or she will put you to jail for cheating on her.

Guy if you can’t see the entire narrative clearly, you’re properly the only person who still have faith on a feet biting dog who you spend entire life feeding them to be fatty bomb bomb.

im sure if someday gold will show their existence, but how they manage it. if they manage or make it same like fiat currency, its a problem. in history, they can live without any economic problem because they have same value, in a long time. so, this also about how to manage what we have.

No country uses gold as a backup for its currency nowadays

Muammar Gaddafi tried to launch a gold-backed dinar as a pan-African currency but was quickly overthrown and then assassinated. Gaddafi and his ideas aside, gold as a currency is only a medium of exchange just like any other currency out there, and in this regard its function is purely utilitarian, i.e. without goods and services to be produced and exchanged it means nothing on its own, not worth a dime, so to speak, gold or otherwise

For ages, gold has been the de facto standard in most trades and medium of exchange aside from barter, I think still gold is a valued asset until now. Gold is supported by all nations, and its good to the assets or currency for a country to be back by gold. But now, I think cryptocurrency is another option, for big secured and highly portable and flexible.

That is ow it is in confederation. Texas also cant do their own implementation on USD. They need other states to agree with their proposal first. Where would we be if all European countries would be against Netherlands suggestion but that suggestion would be accepted? Definitely not in Confederation.

If the current monetary system collapses is not only an alternative solution that must be sought but also the root of the problem that occurs so that the same problem does not recur in the future. I am among those who believe that the fiat money system will collapse according to what has been preached by the Prophet Muhammad. While forgetting about the forecast problem, let's discuss why gold is able to move the economy back after a collapse.

In international trade, not all types of fiat money have legitimacy and are widely used. while gold is international, there will be freedom of gold exchange, through exports and imports. the use of gold will cause a fixed exchange rate between countries. Each country will maintain its gold wealth so there is no gold flight to other countries.

The golden opportunity to return to being an international monetary reference is huge from a fundamental (economic) perspective but rather difficult from a political point of view. That can be seen from the strong international conspiracy to get rid of the influence of gold. The banalization (removal) of gold from the venerable arena is inseparable from the solidity of America as a world superpower. Every superpower country has the opportunity to become the world's currency.

indeed adoption of gold as a medium of exchange will not be able to solve all economic problems after the collapse. but it can at least be the first step to not further impoverish the people with the problem of losing their money due to inflation and currency depreciation.

At times of extreme stagflation and hunger gold could surely net you a lot of currency. But people then were not interested in monetary value as much as for mere survival. Value isn't a universal notion. Gold might have a more tangible sense to how its valued but context also matters, because in an economy you're not alone. If you're shopping for survival maybe money in general is not a good currency.

I have been investing in gold before I discovered Bitcoin, but now I don't invest much in it. My focus is more on Bitcoin than gold because that's where I make the most profit. Whatever happens to Fiat does not have anything to do with cryptocurrency unless it's one that is backed by fiat like most stable coins.

I also have two lands, and I have no intention of selling any of them, but to keep them. It's good to have assets like these. I can tell for sure that the price of land in my country has increased more than what it used to sell in the last decade. If I should sell land I know how much I will be getting. That's the same with gold and Bitcoin, they all increase. If you don't have any you are just missing out and when there is an economic crash it will affect you badly.

There is Sovereign gold bonds even now and you do not necessarily carry gold bars, just a peace of paper is enough to carry millions of dollars worth of gold through international borders and now we have BTCitcoin and you can move that easily and can sell those in exchanges and convert to the fiat currency you want and hence i consider BTCitcoin now a days and when ever i invest in gold i tend to go for gold bonds than purchasing the metal itself.

There were different forms of gold standard in the past

And you didn't necessarily have to move physical gold around, which seems to be your point. Countries on gold standard typically used paper money anyway which was redeemable for physical gold. So you could redeem a piece of paper which had been circulating as money for real gold if you chose so and when you felt it necessary

If we were on gold standard in this day and age, transactions would still be mostly electronic (digital), while gold would only be used for accounting and final settlements, without physically leaving its underground vaults and storage facilities. In essence, everything would remain as it is now for the most part

Yes I think people will use Cryptocurrency than gold if fiat currencies collapse. But after the Cryptocurrency period ends, I am very sure that gold will be re-used by everyone. Although gold stocks are scarce, public interest in gold is still very high.