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haxor@derp.foo

Rising costs mean food companies are making snacks, sodas taste worse (www.businessinsider.com)

submitted 9 months ago by haxor@derp.foo to c/hackernews@derp.foo

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[–] manucode@infosec.pub 2 points 9 months ago (1 children)

Why wouldn't its value fluctuate over time? What's actual value, anyway?

[–] grayman@lemmy.world -2 points 9 months ago (2 children)

Gold and silver hasn't changed in value long term. What you could get with it 100 years ago is what you can get with it today. The price has tracked inflation well since the day we went off the standard. What has changed is its price. Fiat currency is just that... Fiat. The value of fiat is only the confidence that people have in it having that value.

[–] SciPiTie@iusearchlinux.fyi 1 points 9 months ago

This is simply wrong:

https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart

That's not to say that depending on strategy there's no place for gold - simply that your statement is absolutely wrong.

[–] manucode@infosec.pub 1 points 9 months ago (1 children)

The value of fiat is only the confidence that people have in it having that value.

The same could be said about precious metals. While they have some usefulness in technology, most of their value comes from what we attribute to them.

[–] grayman@lemmy.world 1 points 9 months ago

It's scarcity and usefulness.