Imagine how comfy you would be in Venezuela had you bought even just 5 ounces of gold using your bolivars 6-7 years ago?
PROVING gold is the Ukraine store of value. because the exchange rate right now dollars to bolivars is 1 dollar for 9 bolivars.
BTFO you mentally ill anti gold cucks
FORBES
"Gold Could Save Your Life
So where does this put gold? At some point, hyperinflation gets so ludicrously out of control that discussing exchange rates becomes pointless. But as of July 30, an ounce of the yellow metal would have gone for 211 million bolivars—an increase of more than 3.1 million percent from just the beginning of the year."
It's all relative though, no good being a millionaire if inflation means a loaf of bread is 100k...
Yeah it's relative sort of..... but if you were in Venezuela right now with $1,200 you'd only be able to get about 1.5 million bolivars. But if you bought just 1 ounce of gold pre bolivar collapse you'd have 300 million bolivars right now.
So basically you'd be like warren buffet with a few ounces of gold in comparison to 99.9% of the rest of the population that probably doesn't even have 15$ to their name
So if you exchange those 300 million bolivars to dollars you end up having a shit ton more dollars than had you exchanged your worthless bolivars for dollars right now
Are you retarded or socialist scum?
Yes, gold is worth millions of bolívares, but that's because in the first place gold costs dollars.
Wether it was gold or $, you could've protected yourself from inflation.
Fucking boomer mamahuevo...
If, buts and maybes. Just imagine buying Bitcoin 5 years ago and selling last year. In the US gold has only risen 25% in 5 years. Yes it's a store of value but not a great method of wealth growth.
>muh rocks
Fucking idiot
>store of value
This...could have been Snickers bars. Anything except the native currency.
Yes... I made a mistake on the math. 1 dollar equals 250k bolivar so your wealth was protected in gold and dollars. But why in the fuck would you hold dollars living in Venezuela pre collapse.
Also.... what happens when the dollar implodes? The idea is to protect yourself from a dollar implosion since the dollar is continually losing value and has been for 100 years
Silver is like 3.6million bolivars. If I have like 500oz of silver can I just bring a bunch of it to Venezuela, sell for VEF, convert that to USD and then become a millionaire? Or am I stuck with my hyper inflated poverty tokens?
So let's say you have inside info the dollar is going to collapse. And you have 100k. What are you going to do? Put your entire net worth into snickers bars or 85 gold coins.
Look at the wife of Peter Schiff and we take a look at your ... well you don't got a wife.
>Because you are a poorfag without GOLD
>Ukraine store of value
Someone answer this
Wrong! Gold IS wealth! If you bought bitcorns and made a million dollars. Your still in worthless fiat.... so when the dollar implodes you are fucked just like in Venezuela. If you take your 1 million dollars made in bitcorns and exchange it for gold then you have actual real protected wealth and savings
Doesn't matter how much paper wealth you have when the currency crisis hits....because it's not real wealth. Gold is real wealth! Get it now?
That's why the dollar used to be convertible to gold at banks in America. The dollar was as good as gold.... and it isn't anymore
Snickers bars is irrelevant, it's just to prove that there are many stores of value that would work just as effectively in that scenario. I'd transfer it to euros or sterling.
Lmao why would you exchange your silver for bolivars all at once?
Inflation here is DAILY. Two days ago $ was at 570BsS, today is 600BsS.
A car piece I needed was 6000BsS one day, and three days later it was at 13000BsS.
It's fucking hell in here. But if you want the easy life, come here with a shitload of $ and a person you can trust to sell them into BsS.
Snickers aren't a store of value! Fucking Christ! Snickers melt. They aren't wealth. They aren't money. Of course snickers have value because you can eat them but that doesn't make them a fucking store of value for Christ sakes.
He wants to arbitrage to make a lot of money. He doesn't want to bring his silver there and live there
I wouldn't necessarily do it all at once, even if it goes up or down 100%, it would still be a shitload of money if there's an easy way to convert that much into USD right now. I just can't see somewhere like a bank taking a large amount of bolivars for USD.
You're a retard. It was just an example that anything outside of the native currency would retain value. Any other currency, stocks, crypto etc. would have protected the wealth as well as gold. Yes crypto has gone down but like I said before, if, but and maybe. Gold is a solid stable investment, there are many other more profitable vehicles that would have paid of better using your scenario. Snickers are a store of wealth, just temporary. If I have 100k worth of Snickers this week, guess how much they'll be worth next week...the same. Gold can fluctuate either way.
People in Venezuela are using bolivarcoin as store of value
well nevermind, if I want to do anything I'll have to find a local with a bank account (really hard for foreigners to get) they would be willing to lend me since apparently there's not enough paper money going around the island. It seems like the likelihood of getting murdered for my shiny rocks is way too high to be worth it. I've also currently been reading lots about people visiting venezuala who buy something with their visa for what they think is like $20, then getting charged $400. How does a country even let that happen?
Because the country is a spic country
Yes shit maintained its value outside of bolivars. But you weren't able to buy any of that shit post collapse. So you got fucked. Unless you held gold or dollars.
The issue is the dollar hyperinflating and imploding. There won't be another currency like the USD that Venezuelans could have put their bolivars into pre collapse that Americans can put their wealth into after the dollar collapses. So gold will be the only way you will be able to protect yourself.
And gold is not an investment it is real money. Golds value doesn't fucking change you idiot. A gold ounce 900 years ago is still that same ounce of gold today idoesnt matter if the dollar exists or not.
Why in the fuck do you think gold has been money and a store of wealth for milennia? Because it's stable fuckhead. Stop valuing gold in terms of paper fucking dollars.
You value gold using ratios to OTHER REAL ASSETS.
A silver dime used to be a days wage that would buy you food and shit. Today the dollar value of an ounce of silver equals 13$. 13$ doesn't even buy you lunch at Taco Bell today. But historically that silver ounce was the equivalent of 2 weeks worth of pay. So silver is undervalued as fuck and the central banks have been stealing all your wealth through inflatjon
You will run into liquidity, security, and regulatory problems very quickly if you did this with that amount user. You would probably be killed by elements of your own staff. If they were loyal, someone you dealt with would betray you. If that didn't happen, the government would find you and confiscate it. You would never complete your goal.
Why is KFC there accepting crypto and not gold then faggot?
>the exchange rate right now dollars to bolivars is 1 dollar for 9 bolivars
That's the government mandated exchange rate, you cuck. I went to Venezuela a couple years ago and the black market exchange rate (if you go into any store and ask to exchange dollars to bolivars) is like 1 dollar to 120 bolivars. I'm sure it's probably even bigger now.
>he thinks anyone wants 300 million bolivars
how do you find this stuff