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

[backpacker]

An insurance is for emergency. How can anybody still consider gold⁠ an insurance when it goes down during the specific emergency-event?
True, a couple of months⁤ after the emergency-event gold might rise but that is usually in tandem with other assets:⁣ In 2008 gold started it's rise when the stock market gained ground again, same in⁢ 2020. Sad thing: While all other assets continue to rise, gold usually retreats after a︀ short hype.
The insurance-qualities of gold are doubtful at best. Who likes to have an︁ insurance that pays when you do not need it anymore? conf/(%

An excellent question. Specifically in light of the fact that this thread has turned into a︃ mirror of the comments corner of a well known gold-bug website.

Whiskey, champagne, wine and︄ art. We can add old cars, antiquities in general, carpets, watches .... to the list.︅ The problem with all this stuff is that it usually comes with high maintenance cost︆ and/or eats up a lot of room to store. Moreover it is illiquid. If you︇ need to sell it, every half-way savvy buyer sniffs it and will haggle you to︈ the ground.
These collectible s are no e to have. But it is a very︉ bad idea to sell them in case of a global emergency, real pandemic (not what︊ politicians want to make us believe right now) or during times of war.
There is︋ a reason why many people like plain cash. Best to keep it in the most︌ liquid and most widely accepted currency on Planet Earth. Only when you have a sufficient︍ amount of that boring cash you can start with collectibles.

 

[JohnnyDoe]

Golden Fleece said:
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 off top. Perhaps you are so used to buying at market tops yourself that you cannot possibly envision that other people can know what they are doing.
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Sorry I didn't consider the fact that you just need to buy at the bottom and sell at the top!

Golden Fleece said:
And even if you do lose money, so what. Gold is insurance. People lose money on their insurance policies all the time. That is the nature of insurance. In fact, you should hope to lose money on insurance, because it means that the worst did not happen. It seems that you simply do not understand the concept of insurance.
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Yeah, you just lose 70% on your insurance that is supposed to hold its value, so what? Blame on you if this happens because you are so stupid not to buy at the bottom.

Golden Fleece said:
And I never mentioned gold bars. You did. You can hold gold coins or whatever you wish as your insurance.
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Gold coins at gold spot price! Damn that's so easy!

Golden Fleece said:
If you live in 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 made in the late-1970's and I purchased it for $125 at an estate auction about fifteen years ago. Not a bad return for something that you can also use while you own it. I do not think that I have ever lost money on either a used firearm or a used high-grade watch.
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Firearms on eBay? Why didn't I think of that before? That's how to cash the few granades I have in my garage. So easy! I will also list that Barrett .50 that I find too light as an everyday shooter.

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[369]

you don't understand gold and its agenda by︌ the elite behind it.
Gold had a peak in 2008 so all goldmines would be︍ flooded with money and they would start mining.Price went quickly down so central banks and︎ other institutions could buy that metal for cheap money.
Retailers were not interrested because of️ the descending price and because of bad return.
Mission accomplished dumb money didn't enter gold.‌
So what does it caused now more ?
In 2021 world wide gold mining reached‍ the peak.Means the amount of produced gold will now only go down because majority have⁠ already being mined.
Thats why many companies are looking for any new gold reserves under⁤ ground which they are willing to pay extremly high prices.
More important based on offical⁣ reports and guidelines its clear gold will be added back into the monetary system.
I doubt you understand what that means for gold.

You instead focus on what pseudo "experts"⁢ tell people to invest in not thinking if there is still demand should majority of︀ the middle class vanish.BIG MISTAKE.

You will get milked like people every cycle myself included.︁
I had MBA on one of the best universities in the world ,read all opinions︂ and articles from experts and thought i know how to invest.
I got rekkt in︃ the dotcombubble because i was so stupid beliving in the crap the system tells you︄ instead of focusing on my own personal opinion and analyzes.
I was thinking a lot︅ and the conclusion was the game is rigged and the pseudo experts just want one︆ and that is your money by selling high overpriced /overhyped goods.
Beginning in real estates,stocks,wine,watches︇ etc.

Tell me who needs in a bear cycle a watch for a price which︈ you want to be equal to your purchase price or higher when everything else gets︉ cheaper

 

[JohnnyDoe]

It's so much easier to fake a gold bar by filling it with tungsten than faking a Rolex!

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[Golden Fleece]

And it is so much easier to‍ identify a fake gold bar than to identify a fake Rolex. Some new fake Rolexes⁠ are so good that even watchmakers with decades of experience can get fooled. On the⁤ other hand, simply buy your gold from a reliable source with the right testing equipment⁣ and the problem is solved.

https://www.celticgold.eu/en/gold-university/fake-gold-bars.html

 

[JohnnyDoe]

Golden Fleece said:
And it is so much easier to identify a fake gold bar than to identify a fake Rolex. Some new fake Rolexes are so good that even watchmakers with decades of experience can get fooled. On the other hand, simply buy your gold from a reliable source with the right testing equipment and the problem is solved.

https://www.celticgold.eu/en/gold-university/fake-gold-bars.html
Click to expand...

https://news.bitcoin.com/83-tons-fake-gold-bars-china-scandal/
Try to fake a bitcoin

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[backpacker]

During the past 10 years almost every other asset class fared better. So, the⁣ dumb money was the smart money because it did not enter.

The price of gold,⁢ silver and platinum is manipulated (by the governing elite and it's banksters). That is the︀ only agenda here. And there is absolutely no chance for precious metals to escape the︁ constant manipulation.
I do not need a manipulated insurance!
Fully agree with that part of your post. In fact,︇ what I wrote in my post #41 is about the same when it comes to︈ collectibles: Not useful in times of a real crises.

 

[Golden Fleece]

Agreed. During a crisis, cash is king. During a crisis, the smart money guys cash in‌ their insurance policy (gold) for cash and then they buy all the (now) undervalued assets‍ that the dumb money guys liquidated during the crisis, because they were so over-leveraged. By⁠ cashing in their gold during a crisis, the smart money guys now have three or⁤ four times as much spare cash as they would have had if they had not⁣ bought gold. Not only does gold hedge a portfolio, but it gives you cash during⁢ a crisis when most other assets are getting dumped at fire sale prices.

For example,︀ investors dumped everything in 2008 -- including gold -- but gold then rose dramatically over︁ the next 3-4 years. It peaked just at the point that real estate prices finally︂ hit bottom in the U.S. (Land prices always bottom years after the stock markets bottom.)︃ So, if you cashed out of gold and bought real estate with your insurance money,︄ you made a killing. But you need to know about these economic cycles. Just read︅ "The Secret Life of Real Estate and Banking," by Philip Anderson.

https://www.amazon.com/Secret-Life-...life+and+times+philip+anderson,aps,123&sr=8-2
The problem is︆ that people fail to educate themselves. They make the same mistakes over-and-over, always thinking that︇ "this time it will be different." Economic history has repeated in cycles for hundreds of︈ years -- and a financial crisis always involves interest rates, easy credit, and over-leveraging.

 

[cuno]

smi(&%smi(&%smi(&%
good point⁣ - what's your preferred alternative then?

monkey see, monkey doo

 

[backpacker]

• Ultra short term US Treasury‌ Bonds. Duration about 4 to 5 months maximum! Due to the high cost of shifting‍ them every couple of months this is best done through a fund/ETF.
  
• Plain cash. Currency:⁠ The most liquid and most widely accepted one on Planet Earth.
  

This has nothing to⁤ do with investing. This is just a highly liquid, well-functioning insurance.

 

[JackAlabama]

That is more myth than practice about the watches. I would⁣ love to buy such a super dooper power ultra fake from space which is so⁢ good it passed for a real one.

For gold you need machinery like e.g. ultrasound︀ to check for it being indeed genuine and good it is.

 

[369]

You never heard about BASEL 3 and more important you still don't get︀ it gold is going to be reimplemented to the monetary system.
Something like that happens︁ over a weekend where noone can react.
I don't need performence of gold now because︂ i don't plan to sell it anyways.
If you want to still collect more profit︃ you can use that gold as collateral and use money you invest somewhere else which︄ brings more currently more profit.
However the final winner will be gold and noone of︅ us knows when exectly its going to happen

 

[backpacker]

It amazes me that︀ you believe gold will be reimplemented into the monetary system. No government/central bank of significance︁ will do that. Kazakhstan or Kyrgyzstan are not exactly relevant in this context and even︂ they do not do it (they just hoard it in large quantities).

You will be︃ surprised when one day the first company comes up with a credible project regarding space︄ mining. Already the announcement of such a project will bring the price of gold down︅ to it's knees.

But before that we will see what gold does when the FED︆ pushes through and raises interest rates significantly. Recall 1980 eek¤%&

 

[369]

oh men.....you ever read governmental documents or from imf which will implement︁ global money via their CDR's ?
You talk with no knowledge.
I can tell you︂ what will happen because of the raised interest rates.The econamy will massivly slow down and︃ gold price like anything else will go down due to deflationary margin call.
However you︄ don't belive that 1-2% additional interest rates can fight a real inflation of 10-15%+

I hope you remember which interest rates they implemented in 1980 to fight inflation.
Try it︅ now and the economy is down instantly.
But still like i wrote multiple times already︆ gold is no more hedge.It gets back implemented into the new monetary system.
And if︇ you understand a monetary system with gold you will know how much gold will be︈ worth

 

[Golden Fleece]

I collected high-quality⁤ watches for several decades. Rest assured, people are paying $500 or more (into the thousands⁣ of dollars) for fake Rolex watches that even many watchmakers have problems identifying. It is⁢ not a myth.

https://timeandtidewatches.com/3-reasons-fake-rolexes-good-avoid-them/
https://www.quora.com/Is-there-a-fake-Rolex-that-is-so-perfectly-made-that-it-cant-be-spotted

People have︂ displayed so much ignorance about so many issues on this single thread -- issues on︃ which they could educate themselves by simply using Google and by reading for a few︄ minutes -- that I am now leaving this thread for good -- and possibly this︅ forum. I see little difference between many of the people on this forum and the︆ people who write the fake news that I try to escape by coming here. Our︇ culture has so thoroughly deteriorated that it has permeated everywhere. Critical thinking is truly dead.︈

 

[uplana]

agree, it's not difficult to find a valid dealer you can⁣ trust when you want to by Gold.
So what's our alternatives.