to put this as simple as possible. Is the economy going to dump more and then eventually go back up, indicating a buying opportunity in stocks, real estate, etc. Or is all going to zero? Would I be safe if I invest in good companies or is it not worth it all,because the USDollar may go to zero? What are your thoughts? Should I take this as a buying opportunity or embrace the possibility of a complete financial collapse where my money is now toilet paper?
Im just a broke trade school student unsure about this whole shitty clown show, and dont want all of my money to go down the drain.
To go off topic a bit, Would trump even let that happen, because if you introduce a new financial system, what are you going to do if millions of hard working middle class Americans lose all their wealth from the old system?
what about that company Bongino supports- precious metals IRAs and they hold it for you?
Just as manipulated as paper fiat currencies.
And practically as a store of real value, possibly an even greater con. But the GoLd and SiLveR rackets have been a huge hit with humanity for millennia.
Depends on your tolerance for risk. Personally I don’t trust Bongino, but never the less it boils down to risk. In a high-inflation economy, physical assets are the best hedge against inflation. Second would be government bonds which theoretically carry the least amount of risk. Gold IRA’s and other versions of “paper gold” basically carry the same amount of risk as most other stocks.
"Hey, give me $1,000/month and I'll hold your extremely valuable precious metals for you... when the economy collapses and people are stabbing neighbors with sharpened toothbrushes for a package of ramen noodles, we'll give it to you. Promise!"
If you don't hold it, you don't own it.
If shit like that is happening you have more things to worry about then where your fucking gold is stored buddy
No argument there. The physical assets are one of many worries cared for.
Obviously my example was extreme. The point is, the extent of their fuckery and willingness to blatantly violate the law and steal from citizens is seemingly endless.
If you can't hold it, you don't own it.
I think we made full circle. Yeah "you'll have more things to worry about" and gold could be the only thing you're worth to anyone. If you have nothing to offer society, you are only worth what you have in physical assets... physical assets that you can secure and protect btw. Sooooo buy gold, lead and learn some life skillz... like farming and harvesting animals.
It's also precisely the time you want physical assets to trade for food.
Yes. If you have nothing to offer society gold will no doubt be a major trading commodity.
Yes, but ONLY if you cant hold it directly.
For example, lets say you have a 401k and you're 59.5 yrs old (just an example). You can withdraw your funds, but you'll have to pay income tax (but no early withdraw penalty).
Instead, you can roll-over your 401k fully/partially to a gold or silver ira w/o tax.
If you go with Noble Gold (sponsor some patriots) then they will do the paperwork, setup and purchase your metal. No tax, no penalty.
Your metal us yours. They send you a pic of your metal, and you can choose between two vaults (TX, and NH i think). They charge going street rates (spot + premium depending on what metals you get.). They charge about 8% fee, and your metal is stored and managed by a trust company.
Using this process… How do you get it shipped to you if you “own” it?
You own it, but the trust company stores it. Like i sait, this is mot as good as in your own possession.
For IRAs, 401k etc, its an option. Hope that helps.
F that.