This is why I'm buying gold and silver. Not (only) because of the inflation I expect, but because these assholes shouldn't have your money. Be your own bank.
When too many autists bought gamestop, the government stepped in, flipped "circuit-breakers", and they told Robinhood to insure 300% worth of the purchases or they'd basically lose all of their ability to trade on all US stock exchanges.
Robinhood didn't have an extra hundred million dollars lying around, so they went into huge debt to pay for what they already had, and started selling people's stock.
JP Morgan Chase has been operating a criminal racket in the silver commodity exchange for over a decade. They've actually been repeatedly prosecuted, and it hasn't stopped them. The largest investment banks on Earth are manipulating the precious metals market.
In 1933, after having capped gold at a specific price, FDR ordered all US gold bullion and gold to be turned in, or face 5 years in prison and a $10,000 fine. A few years later, they upped the price of gold so everyone who turned their gold in lost most of that wealth. Congress passed a law turning executive order into a law, and criminalized the private ownership of gold and silver coins & bullion until Gerald Ford decided that it was silly. People were serving up to 15 years in prison for owning physical gold.
Now, ask yourself, "Would the response to a run on gold & silver be worse than Gamestop? How aggressive do I think the largest international investment banks in the world will be if there's a rush into gold/silver? Will the government side with them in a heart-beat and tell me and my ETF investment to eat-shit-and-die? Would the government be prepared to violate the law to protect the investment banks? Would they be prepared to kill?"
If the answer is yes, I'd suggest having some physical stuff around. I don't trust ETFs. Dude, I don't even trust crypto. I expect that to be criminalized.
As a shorter-term investment (say 5 years) gold and silver are only good investments if you are careful, and stuff like Vault Gold might be a good idea.
But me? I'm paranoid. I bought my friends constitutional silver.
You know why?
Because Australia already has a ban in place of anyone using their credit cards outside of quarantined zones. I want silver quarters so they can buy gas if they come to visit me outside the quarantine zone while ye olde "Operation Chokepoint" remains in effect.
The most profitable decision would probably be in crypto, and maybe some vault gold as a back-up because premiums could be high.
But I'm making the most defensive decision. I'm protecting my purchasing power, I don't care if it's not optimal, it's probably better off as a metal than as a fucking number in my bank account.
Dude, I bought copper. I bought 5 oz copper coins because I know that in a monetary disaster, poor people: wouldn't have gold to trade, don't know how to value silver, but do understand copper as a poor man's metal. I've watched people steal it. I would be trading that with fucking fire-wood and toilet paper... just in case. That's not an investment, it's reactionary. I'm thinking defensively. Maybe not even appropriately, but defensively.
I'd say consider your own analysis. Think about a plan for what you intend to do with that stuff. Figure out an exit strategy. Think: "I plan to hold onto this for 10 years, what will that look like?"
I should have done it myself, but in March of last year, it really looked like I was out of time.
This is why I'm buying gold and silver. Not (only) because of the inflation I expect, but because these assholes shouldn't have your money. Be your own bank.
When too many autists bought gamestop, the government stepped in, flipped "circuit-breakers", and they told Robinhood to insure 300% worth of the purchases or they'd basically lose all of their ability to trade on all US stock exchanges.
Robinhood didn't have an extra hundred million dollars lying around, so they went into huge debt to pay for what they already had, and started selling people's stock.
JP Morgan Chase has been operating a criminal racket in the silver commodity exchange for over a decade. They've actually been repeatedly prosecuted, and it hasn't stopped them. The largest investment banks on Earth are manipulating the precious metals market.
In 1933, after having capped gold at a specific price, FDR ordered all US gold bullion and gold to be turned in, or face 5 years in prison and a $10,000 fine. A few years later, they upped the price of gold so everyone who turned their gold in lost most of that wealth. Congress passed a law turning executive order into a law, and criminalized the private ownership of gold and silver coins & bullion until Gerald Ford decided that it was silly. People were serving up to 15 years in prison for owning physical gold.
Now, ask yourself, "Would the response to a run on gold & silver be worse than Gamestop? How aggressive do I think the largest international investment banks in the world will be if there's a rush into gold/silver? Will the government side with them in a heart-beat and tell me and my ETF investment to eat-shit-and-die? Would the government be prepared to violate the law to protect the investment banks? Would they be prepared to kill?"
If the answer is yes, I'd suggest having some physical stuff around. I don't trust ETFs. Dude, I don't even trust crypto. I expect that to be criminalized.
As a shorter-term investment (say 5 years) gold and silver are only good investments if you are careful, and stuff like Vault Gold might be a good idea.
But me? I'm paranoid. I bought my friends constitutional silver.
You know why?
Because Australia already has a ban in place of anyone using their credit cards outside of quarantined zones. I want silver quarters so they can buy gas if they come to visit me outside the quarantine zone while ye olde "Operation Chokepoint" remains in effect.
The most profitable decision would probably be in crypto, and maybe some vault gold as a back-up because premiums could be high.
But I'm making the most defensive decision. I'm protecting my purchasing power, I don't care if it's not optimal, it's probably better off as a metal than as a fucking number in my bank account.
Dude, I bought copper. I bought 5 oz copper coins because I know that in a monetary disaster, poor people: wouldn't have gold to trade, don't know how to value silver, but do understand copper as a poor man's metal. I've watched people steal it. I would be trading that with fucking fire-wood and toilet paper... just in case. That's not an investment, it's reactionary. I'm thinking defensively. Maybe not even appropriately, but defensively.
I'd say consider your own analysis. Think about a plan for what you intend to do with that stuff. Figure out an exit strategy. Think: "I plan to hold onto this for 10 years, what will that look like?"
I should have done it myself, but in March of last year, it really looked like I was out of time.