@sillystring@infosec.exchange @cy

Usually these sort of myths have a nugget of truth in them. While he was, of course, completely incorrect about gold being illegal to buy in quantity, it is an idea that was cooked up from a misunderstanding of an actual regulation.

Basically you can own as much gold as you want, you can have as much as you'd like as a means of savings. What you cant do is use golda s a form of legal tender. Therefore you can not legally use it to pay off debt, a debt collector can not legally demand it as a form of payment of debt, and goods and services can not be offered in exchange for gold directly. All that means is if you want to spend your gold you must first sell it for money and then spend the money.