• Before posting anything about COVID-19, READ THIS FIRST! COVID-19 and Misinformation (UPDATED)
    Misinformation and/or conspiracy theories about this topic, even if intended as humor, will not be tolerated!

Ardillaun

Well-known member
Joined
Jun 4, 2010
Messages
13,511
Last edited:
Last edited:
The only time I made money on banking shares was when I bought a teeny bit of AIB on Sir Gerry Robinson’s recommendation way back in the last crisis. He sounded like he knew what he was talking about. For no good reason, I sold them on a bounce before they crashed again without the slightest idea they were in such terrible trouble. I had the same dumb luck with Nortel (who turned out to be fraudsters) but Air Canada brought me down to earth.
 

puffin

Well-known member
Joined
Aug 2, 2012
Messages
1,823
good man. 100% in on one class, neh, one investment. But McWilliams is at the back of your class?

snigger

do you at least have an investment in tin goods and bullets, ya know, for the zombie apocalypse?
Yeah , Gold is the bottom of the financial pyramid, not like your debt driven pyramid.
 

Lumpy Talbot

Well-known member
Top Poster Of Month
Joined
Jun 30, 2015
Messages
36,608
Twitter
No
So in the various scenarios post the Apocalyptic collapse when all the banks have tumbleweed drifting through their buildings how will you redeem your certificate for your gold holdings in Ashanti Mines in Zimbabwe?

I always love these American Prepper assumptions about gold preserving one's wealth through the collapse of the international economic system. If they are hiding boxes of kruger-rand under the floorboards let's game out what the most likely scenario would be. Joe the Gold Hoarder decides that the initial food supply is getting a bit low and decides to life the floorboards to dig out some of that lovely yellow security. So Joe goes off- where? To trade his gold for supplies. From who? The local Mad Max gang who are happy to trade honourably with this chap who has just wandered into the lanes looking to trade gold for bread...

The amount of people buying certificates that state they own gold to an equivalent sum of the money they've just handed over, who assume rather weirdly that in the post-apocalyptic world there will be an office vaguely somewhere where they can collect their actual gold is just bonkers. If you are sitting on a lot of gold in that post-apocalyptic world in a broken down society the gold would be yours for about five minutes and would be as likely to get you killed by people who don't have certificates and don't care about the paperwork either.

Never been able to figure just where or who these people think they are going to exchange kruger-rands with in a post-apocalyptic scenario at an equitable rate? The new gold standard would be the equivalent of a centimetre of lead at any given time for gold hoarders and would attract pirates like flies on shyte.
 

Lumpy Talbot

Well-known member
Top Poster Of Month
Joined
Jun 30, 2015
Messages
36,608
Twitter
No
The other thing is of course that most Preppers would try to impress their friends with their foresight in being in gold reserves hidden physically nearby, owning a family bunker and plenty of dry food and water supplies and will have told their social circle all about it. As well as having at least three or four workmen who know about the emergency facility.

I bet in a post-apocalypse scenario after a few weeks all the preppers would have mostly shot each other in an attempt to replace the stuff that has disappeared on them. Mind you there will always also be the weirdo who tries to call a meeting in the middle of the apocalypse to demand that the neighbourhood do something about the height of the lei-landi hedges at number six.
 

New Threads

Popular Threads

Most Replies

Top Bottom