- ORIGINAL NEWS
How doomsday preppers made gold and silver precious end-of-the-world assets
- SUMMARY
In response to growing worries about society’s stability and a sense of impending doom, people are turning to gold and silver as stores of value.
These precious metals offer a tangible and enduring form of wealth, contrasting with the perceived uncertainties of conventional assets like bonds and real estate.
Costco, a popular retailer, has recognized this trend and has added gold bars and silver coins to its offerings.
The staggering sales figures for these precious metals demonstrate the widespread fear of economic collapse and a desire for security.
According to experts, this obsession with gold stems from a nostalgia for the past and a belief that gold represents stability in an increasingly complex and ambiguous world.
The volatility of the global economy, the threat of nuclear conflict, and the looming climate crisis fuel these anxieties.
However, it’s crucial to note that while gold can provide some peace of mind, its performance as an investment has historically been quite modest.
As one financial advisor cautions, gold is primarily a form of “insurance” against extreme economic events rather than a primary investment.
The rise in gold’s popularity reflects a widespread sense of pessimism and a fear that the future will be worse than the present.
People are buying gold and silver as a tangible reminder of a simpler and more certain time, even though these precious metals cannot fully protect against the complex challenges facing our society today.
- NEWS SENTIMENT CHECK
- Overall sentiment:
negative
Positive
“Experts say its target audience for these products likely include at least some of the same people who’d consider buying its $6,000 doomsday prep kit, which comes with 600 cans of food.”
Negative
“At the heart of people’s apocalyptic fantasies is nostalgia, Berger said.”
“Morton describes global warming as a “hyperobject,” an idea that is too big for us to understand, and he believes that the purchases of precious metals feed into denial about climate change.”