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The Importance Of Physical Assets

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Pillar of the Community
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Canada
4229 Posts
 Posted 01/14/2022  9:21 pm  Show Profile   Check Pacificoin's eBay Listings Bookmark this reply Add Pacificoin to your friends list Get a Link to this Reply
Agree with SeL free and clear house ( no mortgage ) absolutely crushes
Precious metals as an investment .
Gold and silver are simply stores of value that cost you lots in security to store .
They pay no interest and in real terms are quite useless .
I will take my mortgage free house and blue chip dividend stock portfolio any day .
BTW I am a Coin and metals dealer . We tell all of our customers the same thing
buy collectible coins as a hobby to enjoy .
If you make anything down the road that is a bonus . Coins and PMs ..a lousy investment .
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United States
112162 Posts
 Posted 01/17/2022  10:32 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
I will take my mortgage free house and blue chip dividend stock portfolio any day... We tell all of our customers the same thing
buy collectible coins as a hobby to enjoy
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Canada
82 Posts
 Posted 01/18/2022  08:25 am  Show Profile   Bookmark this reply Add sbr to your friends list Get a Link to this Reply
We own our home( wouldn't have it any other way) and have 50% of our assets in blue chip dividend cos. as well , but playing devils advocate would I invest in housing in Canada now? First housing and long bonds have had a great run following 14% rates falling to .25% over the last 25 years . Going forward we have interest rate hikes coming with estimates of 4 hikes this year (I think two is all these counties can afford) but there is a fundamental shift in rates going forward.This would have a very negative effect on house values. As well it has been suggested in may places that Canada has one of the most overvalued housing markets in the world. So going forward my "guess" would be copper ,
oil & gas , gold mining and gold. But just my guess.
Edited by sbr
01/18/2022 08:47 am
New Member
United States
2 Posts
 Posted 01/28/2022  5:57 pm  Show Profile   Bookmark this reply Add aliceste to your friends list Get a Link to this Reply
I consider investment in precious metals one of the safest actually. Maybe not the most profitable one, but definitely safe.
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United States
112162 Posts
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Canada
82 Posts
 Posted 03/03/2022  09:13 am  Show Profile   Bookmark this reply Add sbr to your friends list Get a Link to this Reply
Gold is starting to move again
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United States
87 Posts
 Posted 03/04/2022  12:45 am  Show Profile   Bookmark this reply Add glenmorenee to your friends list Get a Link to this Reply
Yes, I think the correction from the all time highs has finished and this rally will take us to new highs.
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United States
256 Posts
 Posted 03/04/2022  7:39 pm  Show Profile   Bookmark this reply Add HappyHippo to your friends list Get a Link to this Reply
Your statement is political. I agree with what most people said here. Stock market has done great over the years. Precious metals, meh, could do worse. 5% does seem like a good cap for physical ownership (excluding house). Gold and silver are commodities, not money. Lot of hype out there from prepare for the zombie apocalypse to don't worry about it. Not a financial advisor but it wouldn't hurt to have some gold and silver but buy it at the right price. Don't buy on emotion or hype or thinking you have a get rich quick scheme.
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United States
158 Posts
 Posted 04/01/2022  6:20 pm  Show Profile   Bookmark this reply Add silverado to your friends list Get a Link to this Reply
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United States
452 Posts
 Posted 04/03/2022  06:35 am  Show Profile   Bookmark this reply Add jaxenro to your friends list Get a Link to this Reply

Quote:
"He had no choice. Maintaining the gold standard became untenable with continued growth of the US economy (or even the world economy). There is not enough gold on the planet to back our money supply (and that includes the stuff still in the ground)."
*** Edited by Staff to add Quote tags. [quote][/quote] Please use them in the future. ***

There is a large school of thought that China wants to move to gold to replace the USD as their reserve currency but they are bumping up against the same problem, at golds current price. However if gold was, for example, $10,000 or more per ounce, it may be feasable.

It is also thought that China's gold reserves are far in excess of what they report and when they do announce their actual holdings it will drive the price of gold up dramatically. They are buying up gold mines worldwide, increasing domestic production, and not reporting adding any of that to their reserve.

The theory is when they reach a specific point they will announce the reserves, driving the price of gold up five fold, and then introduce a gold backed Yaun to replace the USD as the worlds reserve currency.

True? I don't know but they are making all the moves that would seem to make it true. Russia has been doing the same for years, converting as much of it's oil earnings into gold as they can.

"Foreign exchange reserves in China unexpectedly declined for a second month to $3.214 trillion in February of 2022 from $3.22 trillion in January and compared to market forecasts of $3.225 trillion, amid a general dollar strength. Meanwhile, the value of China's gold reserves increased to $119.64 billion from $112.46 billion at the end of January. source: People's Bank of China"

This is only what they are reporting
Edited by jaxenro
04/03/2022 07:09 am
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United States
87 Posts
 Posted 04/06/2022  02:37 am  Show Profile   Bookmark this reply Add glenmorenee to your friends list Get a Link to this Reply
So how does China squirrel away all this gold without the world noticing? World production is around 3500-4000 tons, half going to the jewelry market. Only about 600-700 tons is available to Central Banks.

This is all besides the point because no country can ever bring about a gold backed currency for the simple reason that no country can prove or be willing to prove how much gold they have. AND they would have to provide continuous ongoing proof. A TikTok video showing some immense Indiana Jones type warehouse of gold will not suffice.

OK, skip the proof. The only way for China or any other country dumb enough to try this is to open up their window just like the one Nixon closed in 1971. China has to stand at that window, 24/7, and take on all buyers and sellers. And if as you suggest, gold goes up 5 fold overnight, there will be a lot of sellers in the morning.
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United States
112162 Posts
 Posted 04/06/2022  08:39 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
And if as you suggest, gold goes up 5 fold overnight, there will be a lot of sellers in the morning.
Yup, which brings the price right back down.
Pillar of the Community
United States
2089 Posts
 Posted 04/06/2022  12:19 pm  Show Profile   Bookmark this reply Add NumisEd to your friends list Get a Link to this Reply
You can sell your gold for 5x, and receive paper currency in return. But what if merchants of life's necessities no longer accept paper currency? Then you would be a fool to sell your gold, even for 10x, 25x, or a million times.
Have a look at Zimbabwe for instance. You think people were selling gold to get several trillion Zimbabwe dollars? No way.
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United States
112162 Posts
 Posted 04/06/2022  12:35 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
But what if merchants of life's necessities no longer accept paper currency?
If this happened in the USA or the World at Large, there would be much bigger problems on which to focus your concern.

If it ever came to that, it would not be gold in my stockpile.
Pillar of the Community
United States
4980 Posts
 Posted 04/06/2022  12:46 pm  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply

Quote:
But what if merchants of life's necessities no longer accept paper currency?


When the SHTF, your gold and silver will be meaningless. The things that matter are food, water, shelter, heat and protection. You would be better off stockpiling canned goods rather than gold. You can't eat your gold and I doubt anyone will trade their food for your PM.

Precious metals are good as a hedge against inflation, as a way to hide cash from the government and can be used as a way to get out of the country with lots of value in a small package. But if the world goes to pot, you are better off living off the grid with a few years stockpile of food rather than gold. Now if you want to get out of the country quick, its a lot easier to hightail it out with a few ounces of gold rather than 100K in cash. Just saying
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