Re:Gold price rises above $2k for first time
by fredfoobar on Wednesday August 05, 2020 @07:08PM
(#24066601)
why store it in a piece of metal though?
> Compared to other "real" things, gold can be liquidated into dollars VERY quickly if you need to make a transaction, and since it's a real thing, it cant disappear.
What happens when someone sticks you up and takes your gold away?
> Also, often gold is stored by the company you bought it from on your behalf, so you can sell it back instantly online. So no need to have to have a home safe.
Isn't that how the dollar got started and here we are.
> Compared to other "real" things, gold can be liquidated into dollars VERY quickly if you need to make a transaction, and since it's a real thing, it cant disappear.
What happens when someone sticks you up and takes your gold away?
> Also, often gold is stored by the company you bought it from on your behalf, so you can sell it back instantly online. So no need to have to have a home safe.
Isn't that how the dollar got started and here we are.