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
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.