lowtek
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History is rife with examples of economic collapse. In how many of these (during relatively modern times) has gold, or any other precious metal, been a currency between the common folk? How many people accept and/or trade gold for necessity items in the failed state of Venezuela? My PhD adviser is a Russian who was a teenager during the fall of communism. I never once heard him tell me that gold was a medium of exchange.
If you're worried about long term wealth preservation, I don't think gold is the right asset. After all, the same people who are trying to sell you on an economic collapse are ALSO, at this very moment, selling gold for fiat currency. IF they really thought that fiat would go to zero, they would not be trading any amount of gold for it. This is just basic logic.
Anybody prognosticating a date for an economic collapse is selling you something, or worse. Check your pockets.
While I believe an economic event (specifically, something on the scale or greater in magnitude to the previous housing crisis) is inevitable, I don't know when. Since I also believe these events are, to some extent, controlled... I think it will occur after the election. It could be a month, a year, or several years later - but I don't think we're on a path for ruin in the next few months.
So what is a "turned on" individual to do? If investing in gold doesn't make sense, what's the correct path?
All I know is what I'm doing.
I'm investing in assets infinitely more valuable than precious metals: my character, attitudes, and skill set.
The value of gold, silver, fiat currency, milk, etc. will fluctuate in an economic event. What will not fluctuate is the intrinsic value of being able to fulfill a market need, and the mental fortitude to persist and advance when others are retreating and cowering in fear.
Spend less time listening to doomer porn by scammers trying to take your hard earned dollars, and more time getting prepared by making yourself a man of value and unimpeachable character. Build better habits, cultivate a positive mindset, and learn more valuable skills by trading your fiat for the expertise of others.
If you think this is bullshit woo woo, and feel the need to turn money into a physical asset, I believe cash flowing real estate is your best bet. People will always need shelter, and the near inevitable drop in real estate prices is not a huge deal to a buy and hold portfolio of cash flowing real estate.
If you're worried about long term wealth preservation, I don't think gold is the right asset. After all, the same people who are trying to sell you on an economic collapse are ALSO, at this very moment, selling gold for fiat currency. IF they really thought that fiat would go to zero, they would not be trading any amount of gold for it. This is just basic logic.
Anybody prognosticating a date for an economic collapse is selling you something, or worse. Check your pockets.
While I believe an economic event (specifically, something on the scale or greater in magnitude to the previous housing crisis) is inevitable, I don't know when. Since I also believe these events are, to some extent, controlled... I think it will occur after the election. It could be a month, a year, or several years later - but I don't think we're on a path for ruin in the next few months.
So what is a "turned on" individual to do? If investing in gold doesn't make sense, what's the correct path?
All I know is what I'm doing.
I'm investing in assets infinitely more valuable than precious metals: my character, attitudes, and skill set.
The value of gold, silver, fiat currency, milk, etc. will fluctuate in an economic event. What will not fluctuate is the intrinsic value of being able to fulfill a market need, and the mental fortitude to persist and advance when others are retreating and cowering in fear.
Spend less time listening to doomer porn by scammers trying to take your hard earned dollars, and more time getting prepared by making yourself a man of value and unimpeachable character. Build better habits, cultivate a positive mindset, and learn more valuable skills by trading your fiat for the expertise of others.
If you think this is bullshit woo woo, and feel the need to turn money into a physical asset, I believe cash flowing real estate is your best bet. People will always need shelter, and the near inevitable drop in real estate prices is not a huge deal to a buy and hold portfolio of cash flowing real estate.