Thoughts on Gold & Silver?

[fall]

Yes, I plan to buy another $2,000 of silver in different denominations. A lot of people like to hold cash for sense of security and in case of an emergency. But the problem is that it loses value, and could lose almost all its value over time with high inflation.

When COVID struck, I tried to buy gold, but they were sold out. In a crisis, not only will precious metals be in high demand and increase in value, they will be extremely easy to liquidate and barter.

Precious metals should never be a major component of your investment portfolio, but they have their place. Like anything else, it has their pros and cons, and could prove to be beneficial. Just another tool in the toolbox.

I also am a HUGE crypto skeptic, but bought $4,000 so far, losing 40% of my money. I like the anonymity when sending money. Also the wild swings, which make owning it exciting. There may be a future for it, who knows.

You mean physical silver? 3 kilos of silver (worse about $2000). Why? What will you do with it?

 

[poker]

Gold is down YTD.

Odd, because money has become less valuable due to inflation, by theory, the cost to buy should go up, even if it value stays the same. But it's gone down.

 

[amazing age]

Hi Poker,

It's the strength of the US dollar that has driven the price of metals down. When interest rates begin to decline (i.e. when central banks chicken out in their war on inflation), metal prices will rise again.

 

[poker]

I wanted to buy one of these when it went for just over $11000 a few years back. It was my end of the world zombie apocalypse plan…

 

[Pleasure Hound]

They're both metals on the periodic table.....

 

[stinkynuts]

I wanted to buy one of these when it went for just over $11000 a few years back. It was my end of the world zombie apocalypse plan…

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This is actually one of the best investments youvcan make.

Silver will appreciate in value, as the metal becomes more scarce and harder to mine.

Even in the very worst case scenario, it will retain its value. This will protect against inflation and hyperinflation. Also, it can be used directly as a form of currency.

It is something tangible and cannot be stolen through electronic fraud. And unlike real estate, it is easily liquidated for cash.

The only problem is that you would need to store somewhere very safe where nobody knows where it is, even your own family. If anyone in your family found out, it is likely that someone else will eventually find out, and from there if there truly is in an apocalypse, they will steal it. Maybe even murder you for it.

If you have a cottage, that may be a good place to hide it.

 

[Goodoer]

I wanted to buy one of these when it went for just over $11000 a few years back. It was my end of the world zombie apocalypse plan…

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That's a lot of silver that you'd have to protect... You'd still have to convert to cash (paying the fees) and that'll become difficult in the Apocalypse.

 

[escortsxxx]

I disagree, $3000 will get you through a few weeks. Enough time for you to get sorted out. It’s better than nothing, and will prepare you for what will come next.But you definitely will need food and protection. even in some first world countries in Europe, there were many cases where people could not gain access to cash because the banks will not allow them to take out money. Greece, Iceland, Spain,Russia, Ukraine, Italy have all seen financial crises so severe that governments defaulted on debt or were financially devastated. More recently many Chinese had no accesss to cash because the banks refused to give them access to their funds. More instability in the future is likely to lead to more cases. Canada is not immune to all this instability, due to globalization.

Even if people have access to cash, it becomes worthless with hyperinflation. Then it becomes necessary to barter with something valuable. In the end though, the long run you will need to have access to a farm or at least a small plot of land to make your food. If you don’t have access to guns, then it’s pointless because your neighbors will find out and steal everything. Worst case scenario is something like The Walking Dead where everybody is after each other.

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Camera is 1 of the few countries in the world that has not gone bankrupt. The America in The south During the civil war only happened 150 years ago. Almost every European country during the Napoleon war. Paper currency becomes worthless The countries were issued new currency and you start over. The japanese yen was oncce about a 2 bucks Now you need more than 100 to make a Canadian dollar. Gold currency Works

 

[Goodoer]

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Camera is 1 of the few countries in the world that has not gone bankrupt. The America in The south During the civil war only happened 150 years ago. Almost every European country during the Napoleon war. Paper currency becomes worthless The countries were issued new currency and you start over. The japanese yen was oncce about a 2 bucks Now you need more than 100 to make a Canadian dollar. Gold currency Works

The "Gold Standard" works. Not physically running around with gold in your pockets... At least not in today's age.

 

[escortsxxx]

The "Gold Standard" works. Not physically running around with gold in your pockets... At least not in today's age.

The gold standard does not work because countries lie. Nixon just made a fact What was already true The US did not have enough gold to back their currency. Gold is worth the same everywhere. Paper you take your chances. Yes the gold standard will slow down a collapse And if you're smart give you time to get actual gold.

It will be near impossible to move to the gold Standard but having gold you can do.

 

[escortsxxx]

This could be a game changer. China is on the verge of economic Collapse barely hanging on. Civil war in china has been quite damaging to their economy.using rare metals as hostage It could be the oil Of the Saudi Arabia's all over again. It's a desperate brilliant move. They may not be out of the game yet.

 

[stinkynuts]

All indications are that silver, which has industirial uses, and is becoming more scarce, will outperform gold. This may be the time to stock up.

Silver prices could touch a 9-year high in 2023 — with a bigger upside than gold

Silver could hit a nine-year high of $30 per ounce this year and become a better performer than gold.

www.cnbc.com

 

[jeff2]

FNV seems to be one of the best. But I would not buy more at this level.