My local gold dealer charges 7% over spot to buy, and I'm sure its another 7% to sell. So I'm already losing at least 10% converting fiat to gold. But the price of gold is still below what is was in 2011.
Everything Peter Schiff says makes sense to me, but I don't see gold growing against inflation as I would expect. Is he just a shill since he runs a gold company?
There would have to be massive inflation like in the 70s, but wouldn't stocks and real estate beat it? Not to mention the risk of counterfeit and being robbed. What am I missing here?
Gold has been the reserve currency since the dawn of time. They removed the gold standard in the 70s and within 50 years the global economy is imploding.
Jeremiah Stewart
Gold is nothing more than paper money, except less convenient. Also, there's lots of morons that believe it will somehow take place of paper cash again. It's the same speculative bubble as bitcoin.
Hes been shilling gold when it was cheap before the ATH and when it was still relatively expensive. Hes very well versed in economics but don't take his opinion on gold as the end all be all of gold analysis. You have to do your own research because he was telling people to buy at 1600 right before it tanked into the low 1100s. Like I said though, hes really smart, but hes so in love with gold he really can't tell when it's not a good purchase.
If only we could go back to the good old days where there was a gold standard and a stable economy. The year 1929 for example.
Brody Hughes
I seen't it. It all makes sense, but the cost of buying and selling gold seems too high. How much should it cost online?
Jack Peterson
STOP VALUING GOLD IN TERMS OF DOLLARS YOU FAGGOT. THE ENTIRE POINT OF BUYING GOLD IS SO YOU HAVE MONEY AND WEATH FOR WHEN THE DOLLAR COLLAPSES.
Did gold all of a sudden become valuable when america was born and the dollar was created? Nope. In fact it was gold that gave value to the paper dollar. So valuing it in terms of dollars is just retarded.
All your fucking housing is going to COLLAPSE up to 90% or more. You buy that gold....and then when gold is revalued to say 25k per ounce to purge all the debt from the system....and you have a deflationary collapse of all asset prices....and a median priced home that is currently 170k is now worth 25k, you now get a home free and clear for the 2k it cost you to buy that gold ounce in todays fiat paradigm.
Get it now?
When gold goes up in price that is not the same thing as amazon stock going up in price. Gold is savings it is not an investment.
In fact, when you buy gold you arent really buying anything...you are just converting your worthless paper wealth into a real store of value and a real asset. The dollar used to be as good as gold because gold backed it. and because gold doesnt back the currency anymore the jews all confiscate all our wealth through inflation which leads to niggers protesting in the street about wanting 15$ min wage, because everyone is getting poorer.
Cameron Bell
Gold is for generational wealth, no point investing for 10-20 years. Gold is for 50-100 years.
Nolan Moore
yeah i think of it as i have $2000, i convert it to gold and/or silver to hedge. whatever price the market offers is a fair price. it's always a 1:1 trade no matter the price
Caleb Perry
What's the point of having gold coins at that point? The post-apocalyptic biker gangs are just going to murder you and loot it from your corpse.
Camden Rogers
That's a futres price. It will change.
Jeremiah Martin
You clearly don’t understand the effects of having gold as backstop for your entire nation’s economic system and why it’s a great thing and also why none of this fucking bullshit that’s been happening since 1970 could have been avoided and replaced by events, economic freedoms and general public well-being that would be infinitely better than the dumpster fire that we call human society.
Austin Cruz
kys...its always...i save it for my grandkids and pass it on. Well they are right, but the world is now imploding...and our grandparents who bought it in the 60's to pass it on to their grandkids are the ones who will benefit from this massive shift now.
Easton Hall
>why all of this bullshit could have been avoided and replaced
Aiden Jenkins
The idea is insurance. You buy for say $2000, and you might expect to be able to sell it in the future for at least $1800. Beware, though. Gold price when people are scared tends to be higher than the average. Buy a little in a set period (say, once per month), and keep "stacking," like they say. This way you will sort of average the price over time. Of course you can buy more if you think it is "cheap."
Henry Rodriguez
The fucking petrodaillar is collapsing right now dude. You sound like a dude giving investment advice on gold in 1993 when shit is normal.
Michael Hernandez
>muh "why would you need gold if it's the apocalypse" I swear the kike who came up with this dumb shit argument was a genius. It's being parroted by all the retards that think they are smarter than average. I have to admit it does an amazing job of keeping people that are skeptical of the financial system and the government, out of the gold market. >You wouldn't want gold, goyim. Think about the apocalypse and disregard the fact that gold has survived for thousands of years and now you can literally buy an ETF and liquidate it anywhere in the world, in any currency, with a click of a button. >ETFs are just paper gold, goyim. You can't be sure >physical gold will be looted by Mad Max style gangs, goyim. Avoid it.
If a deflationary collapse happens before America goes full Jerome it would be better to keep some dry powder. That depends of course on how much money user wants to invest. Maybe going %5 in gold from nothing is OK at any time.
Thomas Brown
Think about it this way OP. How many oz. Of gold do u need to buy a house?
Aaron Mitchell
Surely it attracts a lot of violence, from people who would think the gold would be better in their hands. If you need to sell during a period of madmaxing, you are fucked. Keep your mouth shut, and don't try to sell the idea to people you know.
Jason Turner
Why not invest in guns instead? That way you'll be able to shoot the other survivors and loot their food and water.
Thomas Roberts
By comparison to this, yeah. Lmao if you think this isn't worse
David Morales
The Soviet Union went through a complete political collapse of apocalyptic proportions, with criminal gangs literally the largest sector of the real economy, and gold didn’t become magically worthless over there
Jose Gonzalez
During an actual collapse guns will become worthless because everyone with a mill and lathe will be cranking them out and foreign countries with huge stockpiles like Russia will be dumping weapons into the west
Kevin Evans
buy an ETF, retard or if you buy physical, keep your dumb mouth shut. How come every mouth-breather thinks that the moment you buy gold it gets posted on a public blockchain and a sign erupts in front of your house that says: "HEY I JUST BOUGHT GOLD, COME AND ROB ME".
who's stopping you from buying both?
pro tip: there won't be a Mad Max apocalypse, but go ahead and keep fantasizing about it and don't buy gold. Just don't be surprised 18 months from now when you'll be selling your house for 10 ounces of gold.
Well rounded portfolio would include guns and ammo along with precious metals
Christopher Sullivan
gold is valuable and will always be valuable, you never lose money when you "invest" with gold. Note that I put quotations on the word invest, it's not really an investment, It's more of a safekeeping of your money so it doesn't lose value. Buying gold at any point in time is a good time, the goal when you buy goal isn't to make money off it, It's to have a reliable and unhindered way to store your wealth without it losing value. Long term IE 10 years you never lose money with gold, That being said don't buy gold unless you plan to hold it for 10 years or more.
Kevin Clark
*the goal when you buy gold, lol
Henry Morales
Yes, I get it now.
Converting fiat to BTC costs much less in fees and is easier to liquidate back to fiat for purchases and BTC has the potential to moon more than gold since it has a fixed supply. But I suppose the difference is that gold has been used for thousands of years and bitcoin hasn't.
I want to hold both as a hedge but I'm having trouble eating the ~10% cut for buying gold and the risks associated with holding it physically.
Isaac Wilson
Some smaller countries indeed went Mad Max. Counting on cashing gold out during severe crises might be dangerous. And it may happen that price is depressed during those. I think gold is great, but for long term savings. Not to buy because it will go TO INFINITY AND BEYOND.
Nicholas Gonzalez
I'll add, buy chainlink and BTC if you want to make money, They will 100% be worth more than what they are now, by 2024. Mid 2020's is what the European union likes to describe when talking about central banking digital currency and its banks that are fully committed. There's no stopping digital currency, NSA developed SHA-256 in 2001, it's all been planned.
Gabriel Morris
What assets will be safe to cash in a mad max scenario? Will cash even exist?
Kayden Johnson
>Some smaller countries indeed went Mad Max. hence you buy an ETF and you move the fuck out of the country when shit hits the fan. Or do you think that literally every country on earth at the same time will turn into a dystopia? You're literally not buying gold in a moment in history when it's the safest investment, just because there's 0.0001% chance that ALL countries will post-apocalyptic hellholes. Very rational thought process.
Landon Ramirez
I had a friend investor here in brazil buying 140kg of gold last week due to coronavirus.
At first, I didn't get it, but now its very clear what is the play here. I think you should study and do it.
Angel Wright
Based satan, also he's transferring his wealth to gold, because he knows your economy is about to inflate/market is about to crash and he's hedging it in the only thing that's safe.
