this post was submitted on 07 Jun 2026
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I have been ridding Gold with most of my savings since around 2012, because what I saw in 2008 and its aftermath (during which I was in the Finance Industry) made me believe that the trend in the way the system is operating was unsustainable and traditional wealth holding systems (including currencies) were bound for some kind of crisis.
(Also that was the second time I was in the actual Industry that got the most affected by a Crash - the previous one being Tech in the 2000 Crash - so I'm probably ultra-conservative in terms of how I try to protect my savings)
Essentially I expect Gold will act as a (very, very old) currency which is not controlled by any government so is less susceptible to the impact of the increasing corruption and ineptitude we see all around in the West (can't really comment on other places, maybe the same?!).
Anyways, in the time since I moved my savings into it, the value of those savings went up almost 5x, though since its peak at the end of January Gold stopped going up and came down, so is now were it was at the start of the year. Since I'm in it with a stupidly long term view (meant to fund my retirement, so measured in decades) and in a position 500% above where I started, I'm not actually worried.
(As somebody who at one point and for almost a decade worked in the Industry, I would NEVER, EVER, EVER put my retirement savings in the hands of the Retirement Fund Industry or in fact in any part of the traditional Investment Finance Industry - as we're seeing now in things like the Nasdaq 100 index changing its rules to allow insanelly overvalued - and thus bound to fall - IPOs to get into the index almost immediatelly after IPO, even the supposedly most conservative parts of the Industry are now rotten to the core and activelly cooperate in pillaging your savings. I really can't emphasize enough how we are nothing more than prey for those fuckers and in the absence of Regulators who do their fucking work - which as shown after 2008, they do not, in fact they're more like willing accomplices whose real task is to provide the APPEARANCE of fairness in the markets - nothing is sacred for them)
Judging by what happenned in 2008, in a Crash Gold will first go down (because when other markets collapse, market players take money from their Gold positions to cover their calls elsewhere) and then take of off (both because as a currency that can't be inflated any faster than mining rates - which increase the amount of Gold available by 1-2% a year - Gold price will reflect the crash in the true value of the main currencies and because there is a "run for safety" effect in times of crisis that moves money to Gold - because as its own currency, it's the ultimatelly safe asset for retaining value - from other investment assets.