RE: End of war29 Oct 2024 23:36
Gold is an asset class with history, widely accepted by nations and has zero counterparty risk.
Given fiat money currency is based purely on faith\trust by people then of course a country 'governments' are going to ramp up the benefits of paper money than gold; and especially when the link between (paper money exchange for gold) the gold and the dollar has been severed in the Nixon era in 1971. Nothing to do with Russia or any western adversaries on what they like paper money or gold, when a country prints their money like monopoly money it becomes worthless because of hyperinflation. Look at Zimbabwe or Weimar republic in 1923, it proves in history you don't wanna hold this currency when the government is weak and reckless in printing large amounts money to solve it's spending needs.
Therefore, keeping a £100 under your bed pillow for the next 50yrs is far worst than keeping £100 worth of gold under your bed pillow for the next 50yrs. I know which one I would choose.
In addition, try taking your really old £2, £1 or 50p coins to exchange for new UK circulating coins from the Royal Mint \ high street bank. They will decline it and hence it's just scrap metal and you giving a perpetual loan (gift) to the UK government. Modern coin collecting is really a scam so forget holding these novelty coins like the 50p Paddington bear or Beatrix potter coins; as one day in the future the Royal mint will say no exchanging these coins.
Wise Up fiat money is Trash.