Any one buying precious metals right now and not Bitcoin @$700 is an idiot.
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True (perhaps) IF they already have an ass-load of PM and no crypto (and some basic computer skilz.)
False (perhaps) IF they have have an ass-load of crypto and no PM.
I am obviously not writing to the second class of reader. I don't feel any need whatsoever to encourage any one in any circumstance to diversify in pathetic precious metals. That is how pathetic I think they are. Diversify into USA dollars and USA stock market.
A few well recognized gold coins for a "
get of Dodge" plan. Yeah okay, but that isn't an investment. It is akin to buying a gun. It is an expense.
Some bullion to drool over and fondle, okay that is another expense for rich boys akin to buying a Corvette or Ferrari. I have held 5 Krugs in my hand. Feels awesome.
I am intentionally ridiculing those who stack precious metal. I am embarrassed that I used to be one of them. Those who think they will leave this useless metal to their children as some sort of accomplishment. These guys may even be my friends, and I am trying to wake them up from the severity of their mistake.
Perhaps you would not have so many failures if you recognized some of the nuances of strategy. Different people have different situations and there is no way to accurately predict the future.
I wouldn't have lost the fortune I earned developing computer software if I hadn't become a silverbug following Jason Hommel back in 2006. And shipped my physical metal to the Philippines!
Precious metal bugs are irrational extremists, who are locked and loaded in their basements. They are goofy insane. They may be smart in other ways, but they have a few screws loose in the noggin.
If you believe gold and silver are great investments, then buy an ETF. But noooo, y'all 'bugs are preparing for the end of the world scenario so an ETF isn't reliable. But in the collapse scenario, their goofy silver dimes are as useful as eating concrete.
BTW, it's a fair bet that free internetworking via corporate controlled global packet transmission infrastructure will fail (in one way or another) long before we hit rock bottom in a real SHTF scenario. (By 'free' I mean free of various kinds of controls of course.) Not that certain varieties of crypto won't be able to work in such an environment to a degree, but they won't work well for even the more technologically capable and likely not at all for the rest. A dusty old wallet might be worth a fortune on the other side of such an event, but one needs to stay alive long enough to get there.
If we get to that level of collapse, then the least of your worries with be your monetary stash. And precious metals won't function either. You'll be fighting for food, security, medicine, and primitive needs.