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Burt Gummer

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Never believed physical, not paper/cert, S/G is 'better' than any other physical asset. I do believe it is MUCH better than any fiat currency which can simply go 'poof' in the not too distance future. Build back better = resetting you to poverty like everyone else in the 99%. At least S/G will be worth something.

Still amazes me that many do not understand that fiat (say dollars) in paper or digital form are backed by NOTHING. The FDIC is a complete joke and underfunded. That is more of a stall tactic than anything else. For years we've heard of coming bank holidays where you will not have access to funds for extended periods. This is when the re-valuation begins. Or should I say robbery. The last variant is Communism.
 

Mikej

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Never believed physical, not paper/cert, S/G is 'better' than any other physical asset. I do believe it is MUCH better than any fiat currency which can simply go 'poof' in the not too distance future. Build back better = resetting you to poverty like everyone else in the 99%. At least S/G will be worth something.

Still amazes me that many do not understand that fiat (say dollars) in paper or digital form are backed by NOTHING. The FDIC is a complete joke and underfunded. That is more of a stall tactic than anything else. For years we've heard of coming bank holidays where you will not have access to funds for extended periods. This is when the re-valuation begins. Or should I say robbery. The last variant is Communism.
So, should I get the gold I do have in my portfolio in hand? Or spend it? Seeing as it's probably not going to go that much higher over the next 20 years. I may not live that long even and it would suck to not use it seeing as it is "old" gold.
 

Mikej

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If you die it won't matter will it.
My point was, I could buy something, like a new car. Considering that gold was bought by my father who was a young teen during the depression, and being in was gathered in small increments with his hard earned money, for a LOT less than it's worth today, it may be more fitting to spend it now. When we are gone the remainder (if there is a remainder) of the portfolio will continue slower increase in value, (presumably) with our heirs. I guess the democraps could destroy peoples hard earned investments in the next 10 years with their policies though and make it a moot point.
 

jayR

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Factoid: From May 1, 1933 - Dec 31st. 1974 it was illegal to possess gold . History repeats.
 

Mikej

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A new car is the worst investment you can make. Buy guns & ammo if you shoot. Buy land if you have enough.
I have investments. I'm talking about what was invested 60 years ago at pennies on the dollar of what it's worth today.
 
So, should I get the gold I do have in my portfolio in hand? Or spend it? Seeing as it's probably not going to go that much higher over the next 20 years. I may not live that long even and it would suck to not use it seeing as it is "old" gold.
Depends upon the future, and no one can honestly never answer as towards unknowns.

Folks can only make best guesses, based upon the past. Sometimes folks can get lucky, if they notice something "current" and act swiftly enough. Ex: getting "out" of "whatever" at the beginning of a crash, before being upside down.

So, yah, I'd say have physical PM's on hand. If said certificates (or whatever non-physical PM investment vehicle) IS NOT a large portion of ones investment portfolio.

Think about it. If you don't "NEED" said certificates (or whatever) day to day. Then it doesn't matter if they are in your hands or not. However, if something "happens" in the market, or the economy, or whatever.

Which would be better, a small portion of your wealth physically in hand? Vs your trust in whatever system it is currently in?

Now, as towards cashing said out & spending it? Also depends. However having NECESSARY hard goods in hand is better than NEEDING said AND being unable to GET them...
 

gmerkt

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One thing to think about with gold these days. There are these investment vehicles called ETF's, Exchange Traded Funds. They make money by trading gold. They sell shares as an investment, but they are actively managed and that results in a lot of trading. So when gold ticks up a little, they sell and take a profit. It doesn't have to be a large amount per unit, because they trade in large blocks which result in a significant aggregate gain. Then when gold ticks down a little, they "buy low" even if it's not a great deal lower. So they can hold it long enough for another modest up-tick. This might explain why gold has gotten into these narrow trading ranges for the past decade or so, with periodic interruptions from events outside the influence of ETF trading. At present, it looks like gold is in one of those relatively narrow trading ranges where the price bounces up and down within that limited range.

Then some seminal event will come along and knock that playhouse into the water. Up or down. Whereupon investors will bail from the ETF if it's down, and if it's up, they will pile in. These moves also telegraph into the retail gold market and may have an amplifying effect.
 

Burt Gummer

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In Zimbabwe and Argentina when hyperinflation hit people were selling their homes for one or two gold coins. Gold has had value for 5000+ years. That value is not going away. TPTB will be going after non-Federal Reserve digital currencies long before other assets. My guess is a FF supposedly funded by Crypto and overnight the US makes all of it illegal. A two for one special.

While Fort Knox is empty with the exception of a couple of displays for privileged but controlled visitors, China has been hoarding massive amounts of gold over the last ten years.

Is land, ammo, weapons, food, water more important? - of course.

All I was saying is many have funds in IRAs, checking, savings, Metals ETFs (700 to 1 paper) etc and physical Gold/S is a much better option.

Those that don't believe fiat will be destroyed per a plan have not been paying attention to how a complete monetary and social reset will happen. Every fiat currency has failed. The USA has had 3+ previous Fiat failures. Don't have faith in something that is nothing more than smoke and mirrors.

Look around and you know it is coming. The muzzled masses here are not like Italy or even the Swiss. As a populace we are ready to be fully subdued under the boot of fake medical tyranny. Banks close and will only re-activate (reduced) value accounts for those who can prove they took the latest booster. Every dirty trick is coming. Those that go along to get along with $$$ in the bank will be sorely reamed.
 
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If you die it won't matter will it. We come in the world like we leave it. I've worked hard & gathered up a lot of stuff I thought I had to have. Now my mobility is gone & my stuff has turned into a burden & you can't even hire anyone here. I'd like to be a minimalist.
I do not know you but if I lived near you - I would help you downsize and sell, donate, gift and/or trash your STUFF.

Been there - done that with some family and many friends over my lifetime.

Best wishes to you.

Old Lady Cate who is a Minimalist
 

ma96782

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Wait so the bank employee knows whats in your box how, if they do its because you opened your box in front of them and showed them? They are drilling peoples boxes in back by themselves in their free time, and some how replacing your keys??? The bank does not have master keys for boxes, you lose your key you then come in with ID they set up a lock smith appointment they re key the box while you stand there and watch everything. Bank closes they have all the costumers get their stuff or they move the boxes to another bank or you don't get your stuff it goes to the state who finds you, if not after years the state does eventually take it if no surviving family members are left.

Also its way easier to steal money at a bank out of the vault as an employee than it is to steal safe box contents, all federal crimes and all will get the FBI all up in your bootyhole. Out of 15 years in banks I have seen all types of robberies and internal thefts none ever involving a safe box, because only people in the movies hit safe boxes.
My bold.
It's a true story. However.....as I heard it.....NIXON didn't claim his loss, as it was "dirty money".

The long version of the story.

Aloha, Mark
 
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My stepfather has been investing in silver, gold, and the like for about forty years. He's at a point where he sees it more as passing on legacy. Mom sees it more as a hassle. Short of having a very real (and fluctuating value depending on demand and market) what are the actual downsides to maintaining value or even wealth in precious metals in today's world?

I know there's a lot of metal holders here. I'm curious what downsides you see (if any) considering the state of things.
Later when I remembered that period, I realized that even right at the beginning
of SHTF there were people who did not want to take money for goods. They asked
for valuables like gold, jewelry, or weapon for goods that they had.

Some of them were smart enough to realize that money was gonna become
worthless really soon, and even gold and jewelry were only good in the first

period, and then only if you had a connection to outside world to exchange it for
something useful.

 
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