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Savers lost a ton of dough
It's intended use is to facilitate the exchange of goods and services
Try investing rather than saving currency.
Examples of inflation resistant investments please.
What value do precious metals actually have? Not much!
Trying To Trade 1 oz Gold Coin (worth $1800 at the time of the video's filming) for Worthless Random Stuff
Yawn
RWSGFY says
Yawn
So you think it is a 'yawn' that uneducated people turn down a Canadian Maple Leaf 1oz. of Gold for meaningless, worthless junk, and it done right outside a coin shop that deals in precious metals? Is that what you are saying?
People simply don't believe it's real and suspect it's a scam. Are you familiar with "too good to be true" concept? They are.
No, it's intended to rob you blind. This has always been the purpose of central banking cartels.
I'm pretty sure $100 invested in AAPL, GOOG, NFLX, TSLA, NVDA, AMZN and such 10-15 years ago has beaten inflation
The important thing is to value currency by weight of pure silver
Do you wish to store your wealth in a government-issued currency rather than in free-market investments?
No, it's intended to rob you blind. This has always been the purpose of central banking cartels.
With a mindset of abundance, feelings of powerlessness and victimization are replaced with empowerment and personal responsibility. When one accepts responsibility for their situation, they become empowered to change it. An outlook of opportunity, possibility, growth, confidence, and optimism takes hold.
Sure, there is excess worry, but saving for a few weeks of food and essentials is wisdom.
I suppose I can talk about my own case. I would ballpark my net worth at around $10MM. Over the years I have invested in real estate, stocks, and private companies e.g. startup equity.
This isn't medieval Europe, Kulak. We have a level of opportunity that previous generations couldn't have dreamed of.
This isn't medieval Europe, Kulak. We have a level of opportunity that previous generations couldn't have dreamed of. It's a shame to see folks squander it by wallowing in a mindset of scarcity and victimhood. The world is our collective oyster and t's possible for just about anyone in the western world to go out and not only seek, but find their pearl.
ust curious. Why did you feel the need to tell us the amount of your net worth in order to drive home your point?
I think excessive optimism and magic thinking is just as bad as excessive pessimism and dooming.
False choice fallacy. I stopped reading right there.
I think excessive optimism and magic thinking is just as bad as excessive pessimism and dooming.
Sure, there is excess worry, but saving for a few weeks of food and essentials is wisdom. Since the invention of Agriculture about 8000 BPY, it was necessary in most places to survive the winter season.
This isn't medieval Europe, Kulak. We have a level of opportunity that previous generations couldn't have dreamed of. It's a shame to see folks squander it by wallowing in a mindset of scarcity and victimhood. The world is our collective oyster and t's possible for just about anyone in the western world to go out and not only seek, but find their pearl.
I suppose I can talk about my own case. I would ballpark my net worth at around $10MM. Over the years I have invested in real estate, stocks, and private companies e.g. startup equity.
To address your real point, 10MM is within reach of almost anyone.
Patrick, I would like to hear why you think that tying currency to metal is a good practice.
Furthermore, low-level inflation prevents deflation.
Currency deflation is one of the worst conditions for an economy because it discourages investing and encourages currency hoarding. The velocity of the currency (i.e. the number of times it changes hands pur unit time) slows to a crawl and the economy stagnates. People spend only what they absolutely need to because that dollar will be worth more tomorrow.
I'm confused now. How does, say, a dollar bill "rob me blind." HINT: It doesn't. If you stuff your dollar bills in a mattress for years while knowing their value slowly lessens, you have robbed yourself. Government-issued currency is just a convenient medium to facilitate the exchange of goods and services and inflation insures that it is used primarily for that purpose.
Do you really think it's the government job to grow your wealth and keep it safe for you?
I'm pretty sure $100 invested in AAPL, GOOG, NFLX, TSLA, NVDA, AMZN and such 10-15 years ago has beaten inflation even with taxes taken into account. Heck, even plain old boring S&P index fund did that, so no stock-picking prowess or luck necessary.
With Gov. Jim Pillen’s recent signature, Nebraska has become the 12th state to end capital gains taxes on sales of gold and silver.
LB 1317 is the fourth major sound money bill to become law this year, as state lawmakers across the nation scramble to protect the public from the ravages of inflation and runaway federal debt.
Under the new Nebraska law, any “gains” or “losses” on precious metal sales reported on federal income tax returns are backed out, thereby removing them from the calculation of a Nebraska taxpayer’s adjusted gross income (AGI).
Supported by the Sound Money Defense League, Money Metals Exchange, and in-state advocates, Nebraska’s sound money measure passed out of the unicameral legislature’s Revenue committee unanimously before being amended into a larger bill.
Sponsor Sen. Ben Hansen said upon news of the formal enactment of his legislation:
Gold and silver are the only forms of currency mentioned in our Constitution and with that comes the people’s ability to use it as such without penalty from the government. Saving, and using, gold and silver is our right and one of the only checks and balances to our federal government’s unending devaluation of our paper currency.
Taxpayers often realize ‘gains’ when converting the monetary metals back into Federal Reserve notes even though the ‘gains’ do not reflect an increase in real value but rather reflect the currency’s ongoing devaluation.
Having to learn how to invest outside of your wheelhouse just to counter the corruption of the money that you earn through your livelihood
This is cute but they shouldʼve abolished SIT alltogether.
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This is kind of funny because "peso" literally means "weight" of silver. But there is no silver in the peso anymore.
The US dollar has lost about 97% of its value from the time the Federal Reserve was created.
Why do we bother with their shit fiat currency at all? There is plenty of silver to use as currency, no shortage. And you can be sure its value won't go to zero like it does with all fiat currency eventually.
Would be nice if there were easily available small weights of pure silver available, but in the meantime, we could just use old US silver coins.
The important thing is to value currency by weight of pure silver, not bullshit pesos or dollars.