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Gold: 3 Reasons It’s Like Bitcoin


Gold_bars_2The power of fear is amazing to me.

For the most part, otherwise sane individuals will do all sorts of crazy things once things become a little bit dicey.

Want proof? Look no further than the gold market. How else can you explain the massive move in an otherwise worthless metal over the last decade?

If you are honest, ask yourself what real utility is there for gold?

Don’t recite what the so-called analysts or experts will tell you about gold being the only real currency in the world (it is not). Those folks will tell you that gold is the only thing that will protect you and your family when things go horribly wrong (fear mongering).

Really, what do you think the world is going to be like if things do really go horribly wrong? I highly doubt that gold bar will get you much if chaos truly takes hold.

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  3. Ignorance. Yet another ignorant loudspeaker proclaiming the paper decrease in the spot price of gold while ignoring the huge boost in demand for physical gold that occurred at the same time. If you tried to buy either gold or silver, and could actually get any, you would find that the price you have to pay has not changed. While the spot price has decreased, the premium has increased. Before the drop, silver was $30 and oz, after the 'drop' silver was still $30 an oz. (The actual cost to buy physical silver).

    Amazing that there is absolutely no analysis in this article at all, and no historical perspective, just hyperbole.

    Several huge differences between bitcoin and gold: bitcoin has not been used for thousands of years as money; bitcoin is not a store of value in and of itself; when fiat currencies collapse, societies don't return to bitcoin; to name a few. All of these are true with gold. Further, when governments overprint their fiat currency, it always revalues to true money – gold and silver.

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