Great post. Do you mean direct ownership of (Chilean) farmland or are there ETFs you like for that?
My father is almost ready to retire and I want him to take a lump sum because I don't trust the solvency of his pension system any more than the Dallas PD's.
Considering this allocation for him:
20% gold bullion
20% silver bullion
16% safe jurisdiction PM miners
24% riskier jurisdiction/high dividend PM miners/royalty streamers
10% high dividend energy
5% Bitcoin
3% Monero
2% Litecoin
I guess you'd say 50% long equities is too much exposure to market counterparties/failures?
BTW, welcome back!

I like hard, productive assets over financial instruments, for long holding. For most people farmland in South America or .au/.nz is piainful and inconvenient to own. That's a significant part of the reason why it is relatively cheap. It's probably not good for someone in retirement for whom liquidity is a paramount factor, unless they think to actually use it directly, or have ready arrangements for reliable rental income from it, in excess of what they could buy in an annuity.
I do think your proposed allocation is rather heavy in PM exposure. I think streaming is probably better than miners, and the risk exposures are so correlated that I can't see much diversification benefit from holding significantly in both categories. Physical metal is the systemic tail risk hedge. Streamers are a levered inflation play with nice asymmetry, so I would trim the miners.
As for energy, that's a complex topic which I can't address right now.
In response to other questions: I don't hold significant amounts of cold reserve bitcoin, although I do have about 2% in a liquidity wallet at the moment. My inclination is to trade it and use it rather than to hoard it. People with less intense commitment to the peculiar merits of XMR than I should definitely hold cold BTC as a significant part of long-term crypto.