RE: Gold v BTC4 Oct 2021 10:49
I think a soupçon of realism is needed to balance the equation....
Firstly - if the day arrives where Russia drops a 'bomb' in the N Sea.....gold bullion will be the least of your problems. There will be no need for bullion because the owner won't be available to use it!
Secondly - consider for a while, why British military forces have been reduced year after year? Consider, too, why - at the same time, the defence budget continues to rise above inflation? Cyber war is the new front. Russia and China are nearing completion of their own independent internets. They will no longer need to rely on a system driven by the western world 'should' matters get out of hand in cyber world. Bringing the internet to its knees in the west is now a very real threat to the economy and to oneself. Assuming this to be the case, individuals and businesses will cease to financially function. You won't be able to buy anything because the banks won't work!
Thirdly....leading on from the above.....how many people actually 'hoard' gold in their basement? Even if one does...exactly how do they go about their daily business if the WWW is down? Do they cycle to the street corner and barter their ingots? Do they go into Tesco and buy food for a few grams of gold. What therefore is the point of gold/money/btc when the internet stops?
All this fuss about gold being the best place to be in a crisis....excuse me....does the crisis bypass you if you have gold under your mattress?
Gold is great IF....IF you can still transact online, unless of course you are happy to swap an ingot for a months food supply?
Let's keep this Gold Vs anything argument realistic eh?
Z
Sign In
Follow the stocks
