Vienna 09/26/2024
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We live in times when not only pagers are exploding in Lebanon. The price of gold shot up at an unprecedented pace within a short period of time. It should be noted that the value of gold has not changed at all. It is the currencies we pay for it with that have lost so much value. The price of gold has exceeded the $2,600 mark. In October 2022, the price of gold was around $1,600.
Yes, you can speculate on the price of gold. With such a strong uptrend, speculation is relatively safe. However, it cannot be ruled out that this price may also fall, at least in the short term, depending on the market situation. In most cases, precious metals are not used to temporarily profit from a price change. The main reason we buy gold is to protect our assets, the value of which, when converted into paper banknotes, falls rapidly.
The advantage of gold is not only its stability but also its high value per unit of weight. For example, if we want to secure $26,000 in this way, we will receive 10 gold coins worth one ounce for this amount, or 0.311 kg of gold. For silver, this would be around 22 kg.
Silver has an undeniable advantage. Let’s imagine the great crisis. Shops have been looted, but you have to eat. A barter market is created where no one is interested in paper money because its conventional value is falling. Today, with an ounce of gold, you can theoretically buy a thousand loaves of bread. For every ounce of silver, 14 loaves of bread are sold.
None of us need 14 loaves of bread at once unless we’re running a canteen. However, if the seller adds a few eggs and butter, such a transaction with a silver coin makes sense for both parties. Gold coins can and probably will be divided into smaller pieces, but this requires an accurate scale, which is a bit of a challenge when we’re buying food at a nearby farm.
The rule is to buy gold to secure assets and hold onto it until we are in a new reality and stable gold-based money is created. Silver, in turn, makes it easier to survive during the Great Depression.
There are other precious metals. The list of the most important precious metals includes:
- Gold (Latin Aurum, symbol Au);
- Silver (Latin Argentum, symbol Ag);
- Platinum (Latin platinum, symbol Pt);
- Palladium (Latin palladium, symbol Pd);
- Ruthenium (Ac. Ruthenium, symbol Ru);
- Rhodium (Latin Rhodium, symbol Rh);
- Osmium (Latin Osmium, symbol Os);
- Iridium (Latin Iridium, symbol Ir). Source: Google.
Most of us have probably heard of platinum, but few people can appreciate the value and properties of an element such as osmium. Therefore, the first two chemical elements on this list – gold and silver – will be popular means of payment during the new great crisis.
Everything I have written here so far concerns a small group of people who have accumulated wealth. The vast majority of us, I think about 90%, have debt instead of wealth. It is not necessarily their fault. Not everyone has the opportunity or ability to make more money. To complicate matters further, I assure you that not all of the 10% of people who have accumulated their wealth acquired it dishonestly.
When banks tried to sell them at public auctions, the previous owner and local farmers showed up armed.
The previous owner had bid for a ridiculously low amount, and anyone who tried to outbid him got a beating.
This allowed the farmer to regain his property and only lose a few dollars. It was called “penny auctions.”
Author of the article: Marek Wojcik
Email: worldscam3@gmail.com
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