http://www.zerohedge.com/news/2017-06-07/numbers-dont-matter-hyperinflation-welcome-world-broke-mill

Comments

  • ike11ikeike11ike Posts: 142 Bronze ✭✭✭
    Gold, silver, and cryptos. What is the USD?
  • ike11ikeike11ike Posts: 142 Bronze ✭✭✭
    Love the article
  • CampeadorCampeador Posts: 101 Copper ✭✭
    That is why is hard to set the Gold value. There is no reference point and right now is the Nation's Currency to give you an idea on what is worth. In case of a Hyperinflation, Gold can go all the way up to $100,000 a gram... that means what? $100,000 of Hyperinflation Dollars might get you a loaf of bread; so then, a Gram of Gold worth as much as loaf of bread?

    I think, that is where Crypto comes in place; the measuring stick for the chaotic world.

    One thing that you need to invest that cost very cheaply is a Thermometer, Micrometer/s, Calculator, a Scale and Test Kit. Why I am saying this... will be a lot of hoax and snake oil sales people. Learn to do some math based on density, volume and weights. You might need to check if it is the real deal if you trade and not to be fooled by "Electro Plating".

    Made a cheat sheet for Silver that I will like to share.

    5.53 Troy OZ = 6.06641 OZ
    1 OZ = 0.16484 Cubic Inches
    1 OZ T = 0.18083 Cubic Inches
    Melting Point = 7,763F / 961.8C
    1.097 OZ T = 1 OZ

    The rest is regular Geometry
    Cilinder/Coins
    V=3.1416 (R)"squared" x H
    V=3.1416 (D/2)"squared" x H
    Bar or Cube
    V=LxDxW

    I bough some Silver 1 Oz T Bullion Coins from Miles Franklin. To be sure, I used that math, since the coins were embossed, I had to take multiple measurements with a Ball Ball Caliper. I came within 0.20 OZ Troy error; I can say, not bad for a field expedient method. Could used water based on the Archimedes Principle. At that point, had not beaker on hand, so had to go "dry".

    Is going to be a lot of chaos. You might be able to buy a House with few GAUs and later might go up to an Oz Troy.. Nobody really will know the true value of Gold and Silver, it will be a lot, but how much is a lot? Are we going to pair Debt to all the World's Gold to balance the "debt sheet"? That means that will sky rocket to high heavens. Most of us will own few grams of ounces, what about the Super Rich that accumulated "Tons" (figure of speech).

    I bought Gold here at Gold Money and Silver on hand, just to have flexibility, have some invested in Ammunition (will be scarce and trade is always welcome)is cheap, but I am not banking (pun intended) to be mega rich.

    Prepare for the worse, hope for the best.
  • Marco_1983Marco_1983 Posts: 66 Copper ✭✭
    @Campeador In a hyper inflationary situation, even if fiat currency would be worth practically nothing, everything, specially commodities, would always maintain some kind of proportion within each other. To get to your example, if a loaf of bread is going to be worth $100.000, a gram of gold can't be worth the same. It would probably be worth, let's say, 1.000.000, because even today, a gram of gold is worth, let's say, a least 10x - 20x a loaf of bread.
    That being said, I agree with you that it would probably be wise to also start taking into consideration cryptos as a measuring stick for the future chaotic world.
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