Three Monetary Truths:
Over time...
1. The US dollar (and other government fiat currencies) are DEPRECIATING stores of value.
2. Gold is a STABLE store of value.
3. Bitcoin is an APPRECIATING store of value.
Discussion
Frankly, that's all everyone needs to know
Oh, they need to know you dirty pajeets are parasites too
The only thing stable is the fables
Gold is not as stable as some people imagine...
This.
Gold is the stable depreciating asset the dollar wishes it could be.
I still have some physical gold, I'd say almost symbolically at this point. Should one keep it in your opinion?
I will keep mine until normies start begging for Bitcoin. My physical is strictly to bribe the boarder guards as I make my way across the boarder with my full life savings on a cold card in my rectum (I know i could just memorize the seed but that story wouldn’t be nearly as interesting to my grandkids).
in a nutshell, yes.
I broadly agree but I do think gold outperformed the actual rate of inflation (rather than the "official" one) in the last two decades, albeit not as much as bitcoin of course.
No lies detected
So I should get a second job to make more dollars and then spend them as fast as I can on real things like a nicer car so maybe I can drive for uber between shifts?
Regarding gold's stability over millennia, here is ChatGPT's response:
Is gold holding its value if it purchases the same amount of bread as it did in ancient times but the real cost of production of bread today is much cheaper due to technological advances?
Ok.
Let's just use our own brains to think about this instead of relying on chatgpt to think for us.
1 incorrect information
2 incorrect information
3 incorrect information
4oh wow that statement is actually true.
So chatgpt got 1 out of the 4 statements it made correct.
While the other 3 statements are nonsense.
One ounce of gold = $5k Australian
One sheep = $500 Australian
I can't imagine being stupid enough to pay $5k on a suit.
And I can assure you, $5k worth of bread is way more than a few months.
Like just stop relying on chatgpt to think for you.
Ask yourself, come on its a very math puzzle.
Ask yourself.
"If bread costs $2 a loaf and gold is worth $5k an ounce how many loafs of bread can I get for an ounce of gold" (the answer is 2500 loafs of bread)
let me assure you that 2500 weeks, or 1250 weeks if you personally eat two loafs of bread every week, or even 625 weeks of bread if you eat 4 each week or whatever number.
Let me assure you it's more than a few months worth of bread.
There's only 52 weeks in a year right.
Nobody is eating the much bread nobody is paying that much for sheep, nobody who isn't retarded is spending that much money on a suit. Etc.
This is a great presentation from 2018. Even the most hardened bitcioners will learn something.
I agree on all 3 fronts, Jeff! Bitcoin is such a protection from fiat. I feel incredibly thankful that I get to store my labor hours in something that holds up.
Well said
Few understand