The attempts to get you to buy gold are off the charts! EVERY "conservative" TV and radio station has a different gold company running the ads, with the hosts claiming "X is the only company I trust". It seems like whenever there is a huge push for something like this, it is all part of a behind-the-scenes plan to rip off the average joe. My feeling is that if the SHTF and the economy collapses, what good will $100,000 in some gold company stock/fund do you? Is anyone else going to buy your $5,000 /oz gold? My theory is that this huge gold push is to drive the price of gold up to a point where the big boys DO sell out, make a killing, and leave everyone else scrambling to get out before it drops below what they bought in for. Please post your thoughts on this. Thank you.
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They've been doing this for years... including all those cash for gold pop ups.
Why? Because people are dumb when it comes to PM. Period.
They don't know the product - they don't understand the difference between a minted coin and a round - "Yeah I got a great deal on a monster box of silver buffaloes!!! - much cheaper than the place you recommended!" That's because they took advantage of your ignorance... silver bugs will get what occurred, most will not.
Because of ignorance, all of these "grifters" pushing gold and silver, prey on people's stupidity. They push odd sizes like 1.5 or 3 oz rounds and pawn them off as "genuine coins". This lets them push wide profit margins - which is why they still do it.
There's nothing wrong with buying PM to hedge against inflation. It is NOT an investment... it's locking in the buying power of your dollar value TODAY. For instance, I have a stack if gold i bought at around $1100. It's nearly tripled in value since. Silver has doubled. Did I really "make" a return? No. The dollar is simply worth less.
The nice thing about physical AU and AG is you own it. You can hold ot in your hand. It has intrinsic value everywhere around the world. It's freedom. Electricity, a computer etc not required... neither is a middle man. You control the entire deal. Everybody else can pound sand.
I agree.
Let me ask you... what do you think about having gold for the purpose of paying off a fixed rate mortgage if shtf? So, the dollar becomes fire kindling, but that doesn't mean I have a lot of it--my employer won't be paying me more. But if gold has gone to $10K per ounce or more, and I can walk into a bank and pay off my mortgage with it, then that would be smart, wouldn't it? I am asking, not telling.
Yeah, but your mortgage is still priced in Monopoly money so who cares about paying it off. Just use other Monopoly money.
The goal is to own the house, not maintain mortgage payments. And my employer won't be paying me more just because fiat is worthless.
I agree. I would also pay the bank in full once metals stabilize, but I would hold in the meantime.
A friend of mine is kinda doing this...left CA and put a good bit of his house proceeds in PM to sit on it in the Midwest while (he hopes) interest rates come down and so do inflated property values. If for nothing else he's locked in his money for a while beating inflation.
However...
I've personally looked at Eastern/Southern real estate in the past 20 years and prices have essentially quadrupled in those areas to capitalize on the flight from libtardia... it's most definitely greed and many of those places have lax building codes and bubba did the whole interior in hickory (walls, ceiling, floors - ever-y-thang including
cabinetscabinetry in EVERY room - also in hickory) - and things only a moron would buy like barndominiums on 3 acres under high tension power lines (always in last pic or two of showcase pics - suprise!!!) all for the low, low price of only like $800k...So it's really hard to say which way things are really going to go.
Will Trump open up federal lands for development? Will interest rates be a thing of the past? (Not sure they can be with the current investment schedules... many invest as mortgages etc) Any way you slice it something has to give because youngins can't afford a house and unlike when I grew up only one income was needed... before they tricked us into everyone working while they touched... I mean, took care of the kids.
What's the deal with hickory.? teach me please.
Slightly less expensive 'harder' wood that looks nice. Other than that, idk.
I have no idea...my guess is it's cheap and regionally readily available... and it's not soft "yella wood".
I imagined living in a place like that, getting up to piss in the middle of the night and not being able to figure out which way was up!!! There was no contrast at all - not even grain direction...
If the rate is fixed, just use cheap money.
I understand. But that assumes that I have more of the fiat dollars. Why would I have more of them, though? Let's say I make $5000 per month, and my mortgage balance is $250K. I can afford the payment. But, if I have a chance to cash in 25 gold coins worth $10K each (hypothetically) and suddenly own my house outright, wouldn't that be a good thing? And, in this scenario of hyperinflation where the dollar is so worthless that it costs $25 for one loaf of bread, that does not mean that my employer will be paying me more. I still have my $5000 per month. Obviously I could use the gold coins to cash in and get money to buy basics... but if I have enough, then I would want to buy my house and own it outright.
All of this is hypothetical, but this is how I'm thinking. I want to own my house.
Oh I see, you want to pay it all off with profits from the increased value of your metal.
This is most likely the case. Conservatives, with their healthy distrust in the system, are the ideal target market for not just gold and silver, but other survival goods, rations, and tools. Thus, you get all the ads.
I can’t say of gold will be a great investment going forward, but I’d much rather hold that than paper dollars. It’s also the one thing that has been recognized as currency in almost every culture over the entirety of recorded human history. For whatever reason, it’s basically wired into people that gold is money. Also, watching the central banks stock up on gold and silver is reassuring that the people that know the system is collapsing are stocking up on the stuff.
Lastly, I’d suggest that the push for digital currency may be a concerted effort to divert money away from bullion. These digital coins seem to represent the worst aspects of the fiat system, and it seems crazy that they’ve gotten the attention that they have.
I agree... especially the last part.
It's backed by what again? "The electricity it took to mine it" No it isn't. That's been burned up and can't ever be used again..."Well what's pm backed by?" Itself. It has intrinsic value and is recognized world wide as having value, aside from industrial utility.
It's seriously remarkable to me how people put so much faith into something so weak on some many fronts... and few want to admit it's not backed by shit. A convenient dissonance of cognition... but whatever. You're free to spend your money however you see fit.
I am only talking about the "paper" gold (they say it's all backed by real metal, but who knows?). I think a little "emergency" gold could be good in your house, but I think the equivalent value in supplies would be a better use of money.
Yeah... I don't trust the paper.
Real McCoy in my hot little hands or GTFO.
The only exception is possibly mine stocks... because it's possible to get a decent return, but that's a whole other animal.