In 1980 the price of an oz of silver was about $49 , today it sits at around $25.
In 1980 $1 is worth about $4 equivalent now.
In 1980 if you spent all your money on silver - it wouldn’t have “frozen” your money in time , you would have suffered twice as much from inflation.
The reason is because as you astutely put it - you need to trade that silver back into the $ to buy the bread.
You not only get HALF the $ you paid for the silver. The $ itself has ALSO lost its buying power.
In that bread scenario here is how that plays out.
In 1980 a loaf of bread was $1. You bought silver at $50 for an oz.
Now, you sell that oz of silver today and get $25.
Bread costs $4. You can buy 6 loaves. In 1980 you could have had 50. OR if you just kept the $50 in 1980 and bought nothing, you could still buy 12.5 loaves today.
Better off freezing the fucking bread than “freezing your money with PM”
PMs are a hedge against inflation typically , sure , but the opportunity cost of -not- considering other asset classes with proven yields is huge.
Ever seen what happens to countries that go through hyper inflation ?
You think that you’ll be able to run around buying food and drink with ya silver while all the other people too foolish to buy PMs starve ?
More than likely hyper inflation will occur as a dictator takes power prints the dollar into oblivion then makes it -illegal- for you to have any precious metals. He will have his army confiscate it from you, and you’ll give it up.
OR you won’t, but you wouldn’t wanna be caught trying to barter with it , nor will anyone take it for fear of being shot.
You don’t think the government would confiscate precious metals … go do some reading.
why are you so angry? I was buying hundreds of Oz's of silver at 14$, so I made quite a bit of money as it has since doubled in price. Also we are agreeing with you that precious metals are good investment so you're not actually teaching us anything, its YOU who refuse to learn about crypto.
Stop acting like a smug big brain when you're clearly 5 miles behind us on this subject. You honestly belong on reddit with that attitude
Just wait for the Hinman deposition on the 27th XRP. Only so long the SEC can drag this bullshit out.
Hey Endgame, how much money have you made from precious metals ? Be honest here.
In 1980 the price of an oz of silver was about $49 , today it sits at around $25.
In 1980 $1 is worth about $4 equivalent now.
In 1980 if you spent all your money on silver - it wouldn’t have “frozen” your money in time , you would have suffered twice as much from inflation.
The reason is because as you astutely put it - you need to trade that silver back into the $ to buy the bread.
You not only get HALF the $ you paid for the silver. The $ itself has ALSO lost its buying power.
In that bread scenario here is how that plays out.
In 1980 a loaf of bread was $1. You bought silver at $50 for an oz.
Now, you sell that oz of silver today and get $25. Bread costs $4. You can buy 6 loaves. In 1980 you could have had 50. OR if you just kept the $50 in 1980 and bought nothing, you could still buy 12.5 loaves today. Better off freezing the fucking bread than “freezing your money with PM”
PMs are a hedge against inflation typically , sure , but the opportunity cost of -not- considering other asset classes with proven yields is huge.
You are an absolute Mong.
Ever seen what happens to countries that go through hyper inflation ?
You think that you’ll be able to run around buying food and drink with ya silver while all the other people too foolish to buy PMs starve ?
More than likely hyper inflation will occur as a dictator takes power prints the dollar into oblivion then makes it -illegal- for you to have any precious metals. He will have his army confiscate it from you, and you’ll give it up.
OR you won’t, but you wouldn’t wanna be caught trying to barter with it , nor will anyone take it for fear of being shot.
You don’t think the government would confiscate precious metals … go do some reading.
why are you so angry? I was buying hundreds of Oz's of silver at 14$, so I made quite a bit of money as it has since doubled in price. Also we are agreeing with you that precious metals are good investment so you're not actually teaching us anything, its YOU who refuse to learn about crypto.
Stop acting like a smug big brain when you're clearly 5 miles behind us on this subject. You honestly belong on reddit with that attitude