More on Silver - interesting…..
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He did bring up several points regarding your stuff:
Gold market cap was something in the neighborhood of $20B; BTC around $2.5B & Silver around $2.1B...I would not be surprised of Silver passes BTC in market cap here shortly. I had no idea it was that close or that gold was 10x the size of Ag until Clive mentioned it.
Gold was around $2000 2 years ago, Dec 23. Now it's about 2.25 times that amount just 2 years later... and - has the entire economy imploded? No...no more than any other time. So the idea that "we're all gonna die!" If gold hits $10k+ seems a bit shit in light of us already going through that with no real repercussions. $15k could be possible... but I'm very skeptical. Then again silver exceeding $45 seemed impossible...now look at that sucker! Nearly double! So glad I sacrificed and stacked bigly at $14-17, ignoring the doubting self talk completely...
I was never a fan of BTC because it's nearly unspendable - even with several more retailers accepting it recently... but mainly because it's backed by literally nothing but belief... Yeah a part of me wishes I had those $10/less early coins but honestly, the whole thing is ghey to me. It didn't come out of the ground and isn't skilled labor... therefore, using the Rich Dad, Poor Dad formula, it's worthless.
Many have tried telling me that the electric used to mine it is what gives it value... that's like saying that the fuel I burned in my used car for sale somehow gives it value... you can't get it back! BTC is almost 95% mined at this point... and then that's it. It has no other place to go but down.
According to Clive, gold has been returning 9.2% annually since 1971. This is by just hodling it...Whereas the stock market, only slightly better IF dividends are thrown back in - BUT - That's being vigilant and moving, selling, buying and a lot more work to protect your investments vs gold. Like he said - Bethlehem steel, GM, etc all went to zero... and if you were invested and sleeping at the wheel, you'd be broke. Whereas gold & hold earns you 9.2% doing absolutely nothing. I love that!
I don't know enough about the big picture to comment on our inevitable "reckoning" but I really hope Au & Ag helps to keep me & mine off the street...