Hi Michiel,

On 2019-08-09 12:24:38, you wrote to me:

 WV>> The paper money is much easier to create, or those numbers in your
 WV>> bank account can be created at no effort at all, by a push of the
 WV>> button.

 MvdV> Creating paper money is still too hard to do it in my own garage...

As is creating gold...

 WV>> So maybe you think gold has little intrinsic value. The intrinsic
 WV>> value of those numbers in your bankaccount is 0.

 MvdV> Indeed. It has value only because there is consencus that it has value. 
If
 MvdV> society collapses that value will collapse as well.

 MvdV> My point is that gold is not immune to that process.

It depends largly on the kind of collapse. But untill such a thing happens, 
gold (and related products), is just another asset class you can invest in, 
with some unique properties, because it has little correlation to the value of 
other assets. It can protect against inflation and devaluation of your 
currency.

 WV>> If that happens I rather have gold than numbers in a bankaccount, of
 WV>> a bank that no longer excists...

 MvdV> If society as we know it collapses and we are back to the dark ages,

Gold was valuable in the dark ages...

 MvdV> you and I will not be able to survive. With or without gold.

How likely is a full collapse? If you think it isn't very likely, gold is a 
usefull investment.

And it's hard to protect yourself against a full collapse. Valuable things when 
such a thing happens, are knowledge about how to survive under such 
circumstances, and weapons. These help to protect your other assets that will 
help you survive, or aquire them when you don't have them.
But it's very hard (in Europe) to have these kind of weapons (== illegal). And 
knowledge takes a lot of time to study and practise. Time better spend on 
learning about how to invest in gold, if you don't think a full collapse is 
likely. ;)

Bye, Wilfred.

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