What are you doing with your "petty" cash? Where are you hiding it?

[JohnLocke]

That's very true, unless you are able to hide‍ it from the governments somewhere in the mountains.

It's a good thing short term, no one knows how long we are here on earth,⁤ however, if you don't think you will die within the next 10 years, I would⁣ say some has to think about his planning for the future.

Spending money is easy,⁢ earn money is hard, if you don't have any money and you need it badly︀ you only rarely able to serve those you need.

For that reason, I find the︁ initial question valid, all arguments are good in this thread, still we need something to︂ store our money, if not in cash then in something else! If not for the︃ next 20 years then for the 5 - 10 years unless you think you will︄ die before that time.

Just my thoughts, out of the head 🙂

 

[369]

oh men you have no clue about gold and your analytic sucks⁤

 

[AMD]

please enlighten us Mr. - I have the same headache as OP

 

[369]

Question is why doesn't gold react as it should as hedge (btw gold is no︇ hedge anymore)

Remember smart money is always entering under valued assets where retailers and the︈ herd moves to overpriced assets and get milked.

But the main question for you should︉ be why are central banks buying gold like insane but retailers not 😀

First of all gold is no more hedge.
You guys should focus more on the new︊ monetary system they are implementing and the role of gold in it.
Also even if︋ gold wouldn't be reimplemented into the monetary system gold is always
one of the best︌ hedges against inflation which today is nothing what is still coming

The propaganda that gold︍ lost its shine that bitcoin is better or anything else as gold is pure propaganda︎ for retailers.
Or why else would central banks buy this s**t metal like insane.

whine ,wishky ,watches i would never touch,why ?

You still think there will be︃ a middle class which will create enough demand after the transformation?

 

[Golden Fleece]

Well, your original post limited the options dramatically by‍ stating "wouldn't escape reporting." For example, in the U.S. there is an extremely safe bond⁠ now paying more than an annual 7% interest rate because of recent rising inflation, called⁤ the Series I Bond. You can invest up to $10k per person.

https://www.mauldineconomics.com/smart-money-monday/theres-a-government-bond-paying-7

 

[backpacker]

The central banks who buy gold "like insane" have already been mentioned in post‍ #11. Including their reasons (well, it is actually just one reason).
No other relevant +⁠ reporting central bank except the ones I mentioned in post #11 buys/hoards gold "like insane".⁤
------------------------------------------------------

Can you explain the following:
And a few lines down in the very same post you⁢ write:
Now I am confused 😵 and need guidance conf/(% ....

 

[bastard]

Gold will keep it's value. I'm believing that so many do.. maybe there is sufficient⁠ of it on earth and in space, however, it get limited and what is out⁤ there is impossible to salvage.

 

[Golden Fleece]

Indeed, there is a finite⁠ supply. That scarcity is what has always made gold real money for over 4,000 years.⁤

https://www.bbc.com/news/business-54230737

 

[bastard]

sounds a little like Bitcoins with limited numbers of coins to be mined... here it's‌ just a limited number of kg. gold.

 

[Golden Fleece]

Gold is nothing‍ like Bitcoin, which currently lacks at least three essential attributes of money:
(1) stability as⁠ a store of value
(2) indestructibility and durability (no electricity or internet = no Bitcoin)⁤
(3) widespread acceptability by most of the public

 

[JohnnyDoe]

Golden Fleece said:
Gold is nothing like Bitcoin, which currently lacks at least three essential attributes of money:
(1) stability as a store of value
(2) indestructibility and durability (no electricity or internet = no Bitcoin)
(3) widespread acceptability by most of the public
Click to expand...

1. Gold price is not stable
2. Bitcoin can exist on a piece of paper, carved into stone, in microwaves”¦
3. Try to buy groceries with a gold bar

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[Golden Fleece]

1) Gold is extremely stable. In fact, it has inexorably risen⁠ as the USD has lost more that 90% of its value over the past 100⁤ years. Over 100 years ago, you could have bought a fine quality men's suit for⁣ one ounce of gold. Right now, you can still buy a fine quality men's suit⁢ for one ounce of gold. Its purchasing power has remained amazingly steady. It is fiat︀ currency that has lost almost all its value.

2) As I already said, if a︁ calamity causes either electricity or the internet to disappear, then Bitcoin also disappears. By contrast,︂ any gold that lies on the bottom of the ocean for 1,000 years and then︃ gets retrieved is still valuable. Will Bitcoin exist in 1,000 years? It may not exist︄ in five years.

3) That argument is non-sensical. Try to buy groceries in Italy with︅ Chinese Yuan or Russian Rubbles. By contrast, gold can be exchanged for the local currency︆ on almost any country on the planet.

 

[JimBeam]

cash is as liquid as it gets...

I mean‍ you could buy something and hope that the value of that will increase in the⁠ future (collectible items, watches, gold, wines, crypto) but what happens if you want to cash⁤ out quickly and the price has declined or you can't find the buyer for the⁣ things you have bought...

If there was a possibility, would you like to turn money⁢ white somehow and have it in your bank account?

 

[369]

LOL

Its no hedge anymore because other than bitcon gold gets back implemented in the‌ new monetary system

 

[JohnnyDoe]

Golden Fleece said:
1) Gold is extremely stable. In fact, it has inexorably risen as the USD has lost more that 90% of its value over the past 100 years. Over 100 years ago, you could have bought a fine quality men's suit for one ounce of gold. Right now, you can still buy a fine quality men's suit for one ounce of gold. Its purchasing power has remained amazingly steady. It is fiat currency that has lost almost all its value.

2) As I already said, if a calamity causes either electricity or the internet to disappear, then Bitcoin also disappears. By contrast, any gold that lies on the bottom of the ocean for 1,000 years and then gets retrieved is still valuable. Will Bitcoin exist in 1,000 years? It may not exist in five years.

3) That argument is non-sensical. Try to buy groceries in Italy with Chinese Yuan or Russian Rubbles. By contrast, gold can be exchanged for the local currency on almost any country on the planet.
Click to expand...

LOL

Take a physical gold bar and try to use it today to buy food or anything else.
Or try to sell it. Then tell me what price you got.

Ask to someone who bought gold at $800 per oz in 1980 and had to wait until 2008 (28 YEARS) to nominally break even.

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[Golden Fleece]

You must live on a mountaintop in Nepal. I can walk⁠ into any coin shop, bullion shop, or pawn shop anywhere in the U.S. and receive⁤ the spot price of gold. In fact, this is exactly what some people did after⁣ many banks closed immediately after 9/11. If you have no real world experience, you should⁢ not make comments.

Like I have said throughout this entire thread, gold is insurance -- not︁ an investment. Just as you cash out an insurance policy in the wake of a︂ catastrophe, you must also cash out your gold during a panic when its value has︃ peaked. How is that -- in any way -- hard to understand? Do you not︄ understand the concept of insurance?

 

[Jerry1911]

Firearms, ammo,⁠ gold, Monero and stocks.

 

[JohnnyDoe]

Golden Fleece said:
You must live on a mountaintop in Nepal. I can walk into any coin shop, bullion shop, or pawn shop anywhere in the U.S. and receive the spot price of gold. In fact, this is exactly what some people did after many banks closed immediately after 9/11. If you have no real world experience, you should not make comments.


Like I have said throughout this entire thread, gold is insurance -- not an investment. Just as you cash out an insurance policy in the wake of a catastrophe, you must also cash out your gold during a panic when its value has peaked. How is that -- in any way -- hard to understand? Do you not understand the concept of insurance?
Click to expand...

nobody in the world pays spot price for buying gold bars.

What a good insurance it is to wait 28 years to break even! During those 28 years if you needed to cash your gold you would have lost 60-70%.

Not to mention that gold bars are easily filled with tungsten”¦

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[Golden Fleece]

Now you are just being purposely obtuse. As I already stated,⁠ "Just as you cash out an insurance policy in the wake of a catastrophe, you⁤ must also cash out your gold during a panic when its value has peaked." If⁣ you cash out during a panic, which is the fundamental purpose of holding gold as⁢ insurance, then you have sold at a market top, a.k.a. at a parabolic blow off︀ top. Perhaps you are so used to buying at market tops yourself that you cannot︁ possibly envision that other people can know what they are doing.

And even if you︂ do lose money, so what. Gold is insurance. People lose money on their insurance policies︃ all the time. That is the nature of insurance. In fact, you should hope to︄ lose money on insurance, because it means that the worst did not happen. It seems︅ that you simply do not understand the concept of insurance.

And I never mentioned gold︆ bars. You did. You can hold gold coins or whatever you wish as your insurance.︇

If you live in︈ a free country, firearms hold their value very well, especially if you buy them used.︉ I recently sold a German-made air rifle for over $700 on ebay. It was made︊ in the late-1970's and I purchased it for $125 at an estate auction about fifteen︋ years ago. Not a bad return for something that you can also use while you︌ own it. I do not think that I have ever lost money on either a︍ used firearm or a used high-grade watch.

 

[uplana]

In South Africa it is not a problem, they have the Krugerrand 😉

Sorry but that is BS - from that statement I understand that you don't owe⁤ a single ounce gold. You will never make a los on Gold maybe you will⁣ not make big profits compared to stocks and crypto, but as @Golden Fleece mentioned, consider⁢ it an insurance.

But why only discuss Gold, some mentioned already whisky, champagne, wine and︀ art ?