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Can’t imagine being a goldbug.

Like what scenario is this guy planning for that would make this amount of precious metals a good investment?

Its basically an anchor keeping him in place. Can’t fly anywhere with it that’s for sure, seaports also closed to him, maybe he has an unguarded border he could drive across but then by the time you’d want to leave those crossings will def be manned and the giant stash of shiny rocks is going to get confiscated, if of course they’re not already taken in door-to-door raids.

He seems to have skipped all the possible reasons that holding sound money is a good idea and is simply planning to rebuild society after the rapture.

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Discussion

noerms 2y ago

It is hard to drop something you invested in (time, energy, money, beliefs) multiple years or even decades.

StackSats.IO 2y ago

Sure, but a quick think through of his circumstance and what I wrote should be pretty obvious - this is a giant anchor, he can’t do anything with it and the scenarios in which it would be useful are way out at the long tail.

Getting stuck in a sunk cost fallacy because you refused to pick up a book for a decade seems awfully stupid.

noerms 2y ago

💯 but unfortunately it’s not logical most of the times. It’s about emotions. Doing things that cause bad emotions it hard. For example choosing to read something that goes against your beliefs. Instead most ppl choose to consume informations that back up their beliefs.

Brisket 2y ago

Yup.

Sunk cost fallacy - aka gamblers bias.

Who's the greater fool 🤣

Marcelinho 2y ago

but its so shiny 🥹🤣

Brisket 2y ago

They're betting on the history side of gold being a world reserve asset.

Money is a technology.

Gold was a better monetary technology than glass beads, shells & silver. The best money acquired a greater % of monetary premium. Look where/what the monetary premium is sitting in now.

It's a bit sad. They can see that the music will stop.

It's not the flex that they think it is.

Mr⚡2MB 🐇🏴‍☠️ 2y ago

According to the biggest goldbug I personally know, my father, an ounce of gold should be worth around $10k currently, which I also agree with.

When I ask him the reason behind this, he immediately blames paper gold and how the price of gold is constantly manipulated, which I also agree with.

So then I ask: "What benefits do you see to always worrying about your stash and its storage, plus the the manipulation of gold prices AND having to exchange it for fiat, which ironically, you were trying to avoid in the first place?

He just sits quiet when he hears such questions. He is basically wrong about investing in gold but he can't bring himself to stop.

ivar 2y ago

Lmao, exactly. It’s the same with all these goldbugs.

pukka 2y ago

😳