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I've simply kept my original position which was at the $400/oz mark and never sold. I'm not a gold bug.
I don't give blind faith to anyone, especially in the financial services.
Not a good example.
but counter-argument is that money-printing and debt-monetizing crap is now in its 3rd decade and apparently has had little major effects. May be it is different this time, who knows.
There's overwhelming evidence to support his position, and he's not the first one to say this. It's a matter of denial for you, and to justify it, you pull out the strawman of there is no ultimate truth.
WookieMan saysNot a good example.
It is, your just not familiar with the sport.
I frankly do not understand jack shit about economy any more. I was raised not to have any debt, to live below my means, etc, but that is out of fashion these days, both with respect to individuals and countries. I do not get how one can go into debt at war-time levels and all is fine and dandy. I do not get how stocks can rise while 50+% of country is fucked. I do not get how 80% of crap we buy is from China and everyone seems to be fine with that, and how our economy can survive. I see @NuttBoxer's point very well, but counter-argument is that money-printing and debt-monetizing crap is now in its 3rd decade and apparently has had little major effects. May be it is different this time, who knows.
They behave like oligarchs, beholden to nobody but each other, and government serves their interests.
I've simply kept my original position which was at the $400/oz mark and never sold. I'm not a gold bug.
If a/o when the central bankers and I don't just mean the Fed but also, BoE, ECB, etc, lose control [ as a group ] and then I'll be back in. For now, however, they have the system setup so that PMs do not look like another long term commodities play.
So you really just have another stock. Kind of defeats the purpose if you're hedging against collapse.
ignoreme, my pal bought a shitload of silver at $45+ dollars/once, he's so far underwater there is no way up in his lifetime.
Long term, metals, ones that are recognizable and don't carry high premiums.
Muh Axioms are always right!
ignoreme, my pal bought a shitload of silver at $45+ dollars/once
I have a friend who fled Indochina as a kid with his family after the Communists took Saigon. These folks, long generations of ethnic Chinese in Laos, were fabulously wealthy. They fled with only their clothes and the oodles gold bullion they could carry with them. They had just enough to pay the pirates ("boat people") to smuggle them to somewhere where they got picked up and transported to refugee camp in Hong Kong. I think they were probably robbed of most of it. I suppose, your gold might be practical in that situation. Surely your guns will not be as you will be out gunned.
I meant cash on hand, not in a bank.
I meant cash on hand, not in a bank.
Low rates mean people trust the future.
Fiat! Currency! Will! Collapse! Gold is $30k/oz! Silver to $5000/oz! You'll see, disbeliever! Muh Axioms are always right! Start you Acme Gold IRA today!
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