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.
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.