I listen to X22 everyday and Dave always mentions "saving your wealth and investing in precious metals and crypto". I don't know much about the stock market. My plan right now is to buy some physical silver and just hold it and wait for it to go up and the plan to go through. Is this a decent plan to have some money saved for the future or am I retarded?
Guys, enlighten me if I'm wrong but, the reason why Dave is suggesting investing in cypto and precious metals is because they're going to become the standard currency in the future when the Q plan goes through right? Which means they will have a lot of worth?
So that means buy cypto and precious metals right now, then when the plan happens you're safe and you have some money left because all of the fiat money from the central banks is going to be worth nothing. Is this correct?
Thanks frens
Dont wait for them to go up or youll be disappointed. PMs are a measure of actual purchasing power - an ounce of silver will hold its value compared to the fiat dollars at the time independent of inflation.
Take a pre-1965 quarter-dollar coin, it's made of 90% silver,
That quarter used to be valued at 25 cents in USD. That value was mostly based on the metal content. You could buy about a gallon of gasoline for that quarter. Now that quarter has a spot price value of between 5 and 6 dollars, that's enough to buy about 2 dollars worth of gas at todays prices on average. You could go to a coin store and sell that quarter, even letting the owner fleece you a little and still have more than enough to buy a gallon of gas but a modern quarter is not near enough.
Very perspicuous anon are you.
Buy, buy, buy! I’ve been investing in physical silver and gold since 1986; mainly US mint eagles. The price of silver is atrociously suppressed. They can’t mine, refine, and mint a one ounce silver eagle for what it costs.
https://youtu.be/b4QCOx-dVTc
tron and doge I'm heavy in since 2017 made a killing...im an IDIOT and sold my doge had 1.2 mill of them in 2018...when i dips down to .03 i'll load up heavy. BCC and LTC have also done well for me. and if yo can stomach the volatile XRP
im not a finical advisor
How to buy silver:
My recommendations: Probably buying sacks of old US silver coins is a good idea. You want little bits of silver to buy and sell with. Giant coins and bars are not ideal, but silver is so cheap that they can still be used. 1 oz is about $20-$30 or so.
Be sure to store the silver properly so it doesn't tarnish. No one wants dull silver coins.
Cryptocurrency: When the power goes out or the internet goes down, how are you going to use it?
US cash: I think keeping a few thousand in $1s, $5s and $20s is a wise idea. I feel like you'll get more mileage out of this than the others. IE, it's actually useful TODAY, because you can pay contractors in cash and they will give you a discount or be your best bud for life. It's always nice carrying a few $20s around knowing you can get more without going to the bank. Again: what happens when the power goes out or the internet goes down? How do you intend to withdraw funds?
Stocks: Avoid! If Trump were obviously president right now, then I would recommend index funds as these tend to grow as the US economy grows.
Real estate: I'd go here. It's a lot more work, and your cash will evaporate, but you will learn how to survive on your own land and it grants tremendous peace of mind knowing that if push comes to shove, you will still have your land. Ideally, own your land outright, borrow money to buy feed and seed and such. The bank can take your feed and seed, but they can't take your land.
Gold?
I purchased (2) Silver (1) kilo bars from APMEX, paid over spot, but I bought the certified and serial coded bars from Suisse Credit. Took (2) weeks to get. Others here recommended APMEX so I went for it. Now I’m going for 2-(1) ounce bars of gold.
Do your research. If you are going to buy metals, make sure it is physical not shares on the stock market. If you do research on the price ratio between gold and silver, you will see that (historically) silver pricing is very low in today's market. Many people believe that the Fed and others are suppressing the price on purpose.
Keep an eye on the market and purchase small portions of it when you see the price dip for any reason. As an example, I purchased several rolls of silver eagles from a local pawn shop at this time last year as we were going into the pandemic. The price dropped below $12. I purchased my quantity over several days as the price kept going down, by the time the price got down below $12, I bought the last coins you could find for sale in my town. There were none left to purchase because everyone was buying silver.
The name of the game is "buy low and sell high", so always try to buy on the dips rather than the peaks. Go into your local pawn shops or coin stores and ask them questions. Ask them what the current "spot" price is (market price) and how much of a margin that shop sells above spot (every coin shop sells with some margin in order to make money). Maybe go to a couple places to find out who has the best margin. (spot price + margin = your purchase price). When you make your purchase, I have a tendency to write down spot, margin, purchase price on my receipt and save that with the coins so that I know what my cost basis is on them. As you collect more and more coins, you can add up all of the purchase prices/ # of coins to get your average price to track with daily rates. Please keep in mind, I am not a financial advisor, I just like to type series of words. Good luck and have fun with it.
Personally, I'm not a fan of crypto's for investment because of how volatile the markets fluctuate. Though, overall they have done well for people.
Silver is easy to buy in small amounts consistently, gold is good but too just much pricier. Yes, the idea with PM is that you are storing the purchasing power, yes that doesn't hold true while prices are suppressed, but the biggest risk with PM is a) getting it stolen, b) having to sell at a lower price than purchased, but unlike stock would be something like buying at 30$ and having to sell at 25$ (a reason why we shouldn't invest with money that we can't risk losing).
TLDR: Buy silver, use it as an opportunity to buy housing, real estate, businesses, raw materials or whatever else you can make money on when the time is right.
The value of silver will probably not go up very much over time, so you won't get rich buying silver alone. The value of silver expressed in $ is what will increase as the market starts to realize the massive influx of printed dollars. All assets will realize that influx - housing, metals, machinery, raw materials. Commodities will also cost a lot more. The point is that if you have savings in $, then you should take some of those and buy "something" that will retain true value. Silver is great because it is already highly undervalued in $, and it does not degrade. One caveat about getting rich buying silver is that there will be an overlap of time where metals will rapidly increase in value, but other assets prices may not have risen as fast. That will be a prime opportunity to buy using your silver. It may be a short window, but it is how people get rich when everything else is going to the crapper. I plan on picking up more rental properties for pennies on the dollar as the pressure mounts from the collapse. It's a bit predatory, but life is war, and you can do more good being wealthy than you can being needy.