And just like that, gold reaches an all-time high of $1930 USD right at the start of the week.
What an edge!
Could be headed to 2500-3000 by year end, who knows...
8)
In this world that's gone mad, 10k is possible.
That's because the only thing holding fiat currency together is dying (confidence). People are seeing the scam. And the elite know they're on borrowed time.
When people don't trust the government, many buy gold.
And with things like bail-in laws, people are expecting a repeat of Greece. That means in a collapse, money in your bank will be legally stolen by banks.
Gold is mostly a store of value though. But if that's your intention, get physical and certified gold. And a really good place to store it. Paper gold is worthless in a collapse.
I personally prefer land. But it needs to be where it's scarce for an investment, unless you're actually doing something with it.
Old Rule: Leave the market, when gamblers come in.
So when it comes to capital control, banks can do whatever they want with the money. The same applies to gold stored in bank.
As far as I know, people who own gold store it in banks!
Quote from: Roulettebeater on Jul 27, 07:18 AM 2020
As far as I know, people who own gold store it in banks!
Lettebea,
wise people don't leave their gold/precious metals abroad into someone else's hands. Even if the institution is most trustworthy.
If you don't hold it you don't own it.
Best is to bury it under a tree on your land.
*****
Silver has quite a way to go to its historical top.
Mitigated: it serves both an industrial usage and investment. I believe it will also get to its high, but not sure when.
Silver coins are beautiful and more accessible to the common man due to its lower price.
Depending on industrial demand, Gold/Silver ratio might go lower to 50/1 or 30/1. Better leverage in a tiny market.
But gold is the major indicator.
Quote from: Taotie on Jul 27, 04:48 AM 2020
In this world that's gone mad, 10k is possible.
A question of time.
At some point, precious metals will not be denominated in $ or any other currency.
This is when markets start to go berserk...
Jump ship. Fiats are sinking, like in Venezuela. Fiats are literally a scam.
Quote from: Roulettebeater on Jul 27, 07:18 AM 2020
As far as I know, people who own gold store it in banks!
Storing your gold in a bank undermines the whole purpose, unless you are so confident that the banks won't crash, but why would anybody be?
Quote from: Steve on Jul 27, 08:27 AM 2020Jump ship. Fiats are sinking, like in Venezuela. Fiats are literally a scam.
It's funny how the government can just print any "value" amount on a green piece of paper to make it worth whatever they want.
So can I put lot of money on gold?
Quote from: Mister Eko on Jul 27, 12:33 PM 2020So can I put lot of money on gold?
Gold and silver are great investments to diversify your portfolio. Cheers
Here's info from: link:s://:.moneyunder30.com/buying-gold-is-it-time-to-add-some-to-your-portfolio#:~:text=Since%20gold%20only%20performs%20well,metal%20is%20the%20best%20course.
Since gold only performs well in very specific markets, it's best to hold a very small percentage of your portfolio in it. It's generally recommended that you not invest more than five percent to 10 percent of your portfolio in precious metals. Investing in the metal is the best course.
Quote from: pepper on Jul 27, 09:09 AM 2020
It's funny how the government can just print any "value" amount on a green piece of paper to make it worth whatever they want.
It wouldn't surprise me if soon we see the completely digital currency from governments, and people will get "covid-stimulus" payments with it. It will help it become more accepted. Come to think of it, that should be an obvious step.
Holy crap!
Something's going on big time.
Guess naked short selling is no longer happening...
Will we reach 2020 by 2020?!? ::)
The best investment is to invest in yourself.
Your healing, health, happiness, education, abilities, experiences worth living.
That is all yours to claim and expand upon. :thumbsup:
The new normal!
Crypto has done far better. But you need to be holding the right crypto.
Quote from: Steve on Aug 04, 09:35 PM 2020
Crypto has done far better. But you need to be holding the right crypto.
But can you hold cryptos?
Can you hold rather your silver/gold coin in your hand?
If you don't hold it you don't own it.
Quote from: Bigbroben on Aug 04, 11:09 PM 2020But can you hold cryptos?
Technically, you "hold" them on the blockchain. It's very secure there. And what you "hold" physically are the keys, like the seed phrase.
The value in cryptos can be as a trader (buying and selling at profit). And while I do that too, you can stake crypto, which I also do. Staking is the modern day interest. And you don't need to do anything to get paid. But you need the right blockchain, because most will eventually become worthless.
Gold should be part of a portfolio, but it's more to hold wealth, rather than make it. Still very important the way the world is going.
But I still think the overall best investment (financially) is land. It's more useful than gold, or anything digital. It's value is it can sustain you, keep you alive, grow food, etc. You can't eat gold or crypto.
Either way we're clearly heading towards a financial iceberg. More people are seeing it now. It is deliberate. The old system is unsustainable, and nothing more than printing money.
Still 10 acres of land will be 10 acres of land, whether it's worth $10m or $1000.