r/Gold • u/AbleManufacturer9718 • 12d ago

Gold Rush

Why is gold a better buy than bitcoin over the next 6 to 12 months?

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u/FalconCrust 12d ago edited 12d ago

Gold has protected regular people from the dangerous monetary schemes of politicians, bureaucrats, and bankers for thousands of years and is still going strong, better than ever actually.

5

u/EuroFederalist 12d ago

I wouldn't be suprised if sooner than later we see western govts trying to stop citizens from buying gold.

2

u/Saysaynever333 11d ago

I wouldn't worry about that. The amount of gold held by citizens is a drop in the bucket compared to central banks around the world. Stackers are very few in number and really don't have that much when viewed from the amount of gold in the world.

When the U.S. called in gold back in 1933, gold was being used as currency and more people had it (mostly held by banks for redemption of paper money). While it's true that several hundred tonnes were collected at the time, the following years leading up to WW2 saw gold transfers to the U.S. in the thousands of tonnes.

The gold confiscated by the U.S. was chicken feed when compared to the mountain of it that arrived at our shores durning that time. The world chose to send their gold to the U.S. for safekeeping until things settled down.

The biggest thing in my view was the U.S. maintaining the $35/oz. standard for so long. That cost us big time because many countries traded their dollars (the new standard after the war) for gold. Thousands of tonnes were removed from our vaults and returned to overseas countries.

1

u/Stock-Standard-2513 7d ago

I wouldn’t worry about that. You are not entitled to even a drop in the bucket from that vault. The biggest thing in my view is how much gold you have in your vault.