controversial personal finance opinion: if you have enough wealth you should own some physical gold
financialized gold has most of the downside of real gold and also none of its special upside, so not that
gold does not, as a rule, gain in value, and it’s vulnerable to theft, but it also does not, as a rule, lose in value, and also the rest of your assets are vulnerable to theft too. gold might have a higher risk but diversification is still valuable
in the event you lose access to your financials and have to leave – maybe not likely, but not impossible, apparently something like 1% of humans in 2021 are or have been refugees – gold jewelry particularly is both portable enough you can take it and universally recognized as valuable enough you can trade it. just don’t get it in your teeth
*Is* this controversial, even in the broad form stated here?
I kind of figured that there was broad agreement that there exists *some* level of wealth at which diversification into gold is worth pursuing (for the reasons you give), but that different people’s estimates of what that wealth level is vary by orders of magnitude, and some people would put enough forms of philanthropy above gold on the to-do list that in practice no one would ever reach the gold stage given our world’s current amount of philanthropic fruit to be picked.
(I’m not sure where I would place the threshold: I think it’s probably somewhere feasible to reach, but far enough beyond where I am now that it’s not urgent for me to figure out the specifics.)
#probably I should obtain a clearer sense of which pieces of our current jewellery collection are costume and which are valuable #and know how to grab the valuable ones quickly #seems like a good short-term action #reply via reblog #adventures in human capitalism #jewellery #101 Uses for Infrastructureless Computers
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