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Comment by Shadonototra | Hacker News Reader

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Shadonototra·

When nobody has money, the first thing governments will go after is land/houses, you can't move/hide them ;)

It is a mistake, gold is the only safe bet

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Mate they'll go after your gold before they go after your land.

They can't go after something they don't even know you have.

They can make it illegal to privately hold gold. Wouldn’t be the first time in history. Good luck trading your gold for goods and services under these conditions.

I don’t think outlawing gold would stop the trading. Drugs are also illegal. Also in a crisis such as the one being discussed the laws and the concept of legality doesn’t mean much.

Btw it is estimated that the last time gold was declared illegal, only about 5% of gold owners gave it up.

But I can't eat gold. I'd rather have a homestead away from population centers than an equivalent in gold, because how likely - government takeover of your home - is that scenario? Where / when has that happened in the communities that HN people are active?

I mean it's happened to Russian oligarchs, but those were investments that they didn't even live in. It's happened to Palestinians, who live under an apartheid regime. But other than that, I can't recall anything like that happening. WW2 Europe maybe, for specific demographics.

What are you going to do with the gold? That's called bagholding, not a productive asset.

Actually, have you tried figuring out WHFIT taxes on $GLD? I ended up invested in it once and had no clue how you do it.

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