Honestly, I'm predicting it WILL briefly hit those absurd levels. You have to realize that once the giant global financial and political collapse happens, gold AND silver will skyrocket, not just because it won't be suppressed anymore, but because of FOMO, people of means rushing to protect themselves, etc.
I'm by no means saying that $15K an oz for silver and $125K an oz for gold is sustainable (its not), but for a month or two I fully expect it to sky rocket to some absurd level like that before settling back town into that 1-5K (my prediction) range longe term
Well realistically, it depends on the circumstances, but historically, when people possessed some asset that ran counter to everything else and was going up crazily while everything else went down, those who still had money would buy something physical with their massive cash piles. Land, real estate, buildings, physical businesses.
I've never understood people saying they wouldn't want to liquidate a lot of it at prices like that. That's like someone saying they wouldn't want to liquidate all of their bitcoin during 2018 or 2020. You just have to be smart and do research and not go into things blindly. Have a plan, scope out asset classes you're interested in, and buy up distressed assets at stupid low prices. As long as your smart about it, you could potentially be able to retire early if you have enough and invest the cash smartly.
I wouldn't sell it all in one go, batch sells are smarter at prices like that. Sell a batch, buy some kind of distressed cash flowing asset. Repeat until satisfied. Just because silver and gold are absurdly priced doesn't mean the value of a dollar has crashed to the point bread is worth a few hundred dollars or something. It just means the naked shorting has stopped and that people are fleeing en mass to safety assets worldwide. PLUS, the temporary highs would be more akin to a bubble pumped up by FOMO and other people trying to get in on the train while they can (like what happens with crypto frequently, but pumped up to 11).
Basically there's lots of factors to consider when something like this DOES happen. I've even seen some people far more autistic than I, claim $50K+ an oz for silver and a $1million+ an oz for gold VERY briefly based on historical precedent and bitcoin/crypto FOMO. I don't know about that high, but who knows? We're in unprecedented territory here
Regardless, there are things you can do to better your and your families life significantly in this situation if you play your cards right. Just have to be smart about it and not be one of those types who go around scoffing about "fiat dollars" and refusing to ever sell, even at absurd prices
Honestly, I'm predicting it WILL briefly hit those absurd levels. You have to realize that once the giant global financial and political collapse happens, gold AND silver will skyrocket, not just because it won't be suppressed anymore, but because of FOMO, people of means rushing to protect themselves, etc.
I'm by no means saying that $15K an oz for silver and $125K an oz for gold is sustainable (its not), but for a month or two I fully expect it to sky rocket to some absurd level like that before settling back town into that 1-5K (my prediction) range longe term
What would you convert it to at those price ranges? Land? Obviously you wouldn’t want to liquidate very much of it.
Well realistically, it depends on the circumstances, but historically, when people possessed some asset that ran counter to everything else and was going up crazily while everything else went down, those who still had money would buy something physical with their massive cash piles. Land, real estate, buildings, physical businesses.
I've never understood people saying they wouldn't want to liquidate a lot of it at prices like that. That's like someone saying they wouldn't want to liquidate all of their bitcoin during 2018 or 2020. You just have to be smart and do research and not go into things blindly. Have a plan, scope out asset classes you're interested in, and buy up distressed assets at stupid low prices. As long as your smart about it, you could potentially be able to retire early if you have enough and invest the cash smartly.
I wouldn't sell it all in one go, batch sells are smarter at prices like that. Sell a batch, buy some kind of distressed cash flowing asset. Repeat until satisfied. Just because silver and gold are absurdly priced doesn't mean the value of a dollar has crashed to the point bread is worth a few hundred dollars or something. It just means the naked shorting has stopped and that people are fleeing en mass to safety assets worldwide. PLUS, the temporary highs would be more akin to a bubble pumped up by FOMO and other people trying to get in on the train while they can (like what happens with crypto frequently, but pumped up to 11).
Basically there's lots of factors to consider when something like this DOES happen. I've even seen some people far more autistic than I, claim $50K+ an oz for silver and a $1million+ an oz for gold VERY briefly based on historical precedent and bitcoin/crypto FOMO. I don't know about that high, but who knows? We're in unprecedented territory here
Regardless, there are things you can do to better your and your families life significantly in this situation if you play your cards right. Just have to be smart about it and not be one of those types who go around scoffing about "fiat dollars" and refusing to ever sell, even at absurd prices