Gold Is A Brilliant Store of Value
(Edited)
Gold started rallying in 1971 when Nixon was forced to take the dollar off the gold standard. The gold standard had been a fake one for some time because, in reality, all the dollars in circulation were not backed by the gold reserves held by the Federal Reserve.
Is there anyone among my American readers who remembers what happened at that time? The price and wage controls? Were there really long lines at gas stations? A gold mania triggered by people wanting to protect their savings?
Source: https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart
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I have some "Silver certificates" somewhere. I was told I could bring them to a federal bank and redeem them for some silver, but upon further investigation, that was a lie.
They wouldn’t give you any silver?
Source
Should Bitcoin ever become reserve currency, the great thing about it is that while it couldn't scale, second-tier solutions like the Lightning Network or some sort of tokens pegged to it through a smart contract would be infinitely better than some piece of paper.
Yup! But it was so difficult persuading my friends and families to get some gold a few years ago! Now they must be felling the pain!
Probably, yes! But in the long run stocks and tech stocks in particular would've been a better investment because technology is more valuable than money. Cryptocurrencies are money but they're also tech. Time will tell how profitable investing in them will ultimately be.
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