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Reason to aviod cryptocurrency

This is a discussion on Reason to aviod cryptocurrency within the Economic, Precious Metals, Investing, Finance forums, part of the General Discussion category; Originally Posted by Smitty901 Look at it like this. If your green bills become worthless , then you will have long been using your preps ...

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Thread: Reason to aviod cryptocurrency

  1. #31
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    Quote Originally Posted by Smitty901 View Post
    Look at it like this. If your green bills become worthless , then you will have long been using your preps to get by. That is when those firearms you invested in will be your most prized investment. Not that gold or silver. The minute you try to use it , someone will take it. Keep living as if it will go on for ever , prep like it might not. Arm yourself well learn to use them and pray all you will ever shoot is paper steel plates and old cars. Maybe a few pain in the butt rodents also.
    The point of owning gold and silver is to HEDGE your purchasing power into the next currency. No point in buying them unless you have every other prep taken well care of. For those few with full preps AND with extensive paper/digital assets tied to the dollar, a percentage should be into physical gold and silver commensurate with your level of alarm. There will be a period of crisis, maybe short, maybe extended, in which we utilize preps. Gold and silver are for AFTER the crisis ends, and a new monetary system comes into play.
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  2. #32
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    Quote Originally Posted by Inor View Post
    Your comment makes no sense.

    Having a complete and secure ledger of the history of ownership of a piece of property is somehow "the mark of the beast"?!? Because I am sure God does not want that. He would much prefer that you be able to deceive a potential buyer.
    Take what you will from it. I am not responsible for you.

  3. #33
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    Quote Originally Posted by StratMaster View Post
    The point of owning gold and silver is to HEDGE your purchasing power into the next currency. No point in buying them unless you have every other prep taken well care of. For those few with full preps AND with extensive paper/digital assets tied to the dollar, a percentage should be into physical gold and silver commensurate with your level of alarm. There will be a period of crisis, maybe short, maybe extended, in which we utilize preps. Gold and silver are for AFTER the crisis ends, and a new monetary system comes into play.
    I enjoy watch the commercial. The dollar is worthless world economy is falling . Protect your self buy our gold and silver. Wait a second if the only answers is buying your gold and silver, why are you selling it. All they are doing is creating a market selling then cooling the market buying it back and flipping it to the next fool up. If someone wants gold and silver buy it but don't buy in to the BS.
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    Karl Marx said, "Destroy their culture, rewrite their history. Ruin their art and literature, and defame their heroes, by offering fabrications to scandalize that which they considered good.
    After reading this Obama said I am on it.

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  5. #34
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    Quote Originally Posted by Smitty901 View Post
    I enjoy watch the commercial. The dollar is worthless world economy is falling . Protect your self buy our gold and silver. Wait a second if the only answers is buying your gold and silver, why are you selling it. All they are doing is creating a market selling then cooling the market buying it back and flipping it to the next fool up. If someone wants gold and silver buy it but don't buy in to the BS.
    They are in the business of buying and selling a product. So are the people selling freeze dried food. If the dollar doesn't collapse, you are not hurt by either... it's an insurance policy, not a get rich scheme of any kind.
    In 1965, your grandma gives you two dimes to purchase two Cokes. You decide to keep them instead, and put them in your pocket. One is a 1964 dime made of silver, the other the new 1965 dime made of pot metal...mostly of zinc with a copper sandwich. 50 years later in 2015 you become thirsty, and discover those two dimes still in your pocket. The 1965 pot metal dime will not really buy anything. But the silver dime can be sold for it's silver content (about$1.30) and buy a 1.25 liter Coke today. The purchasing power was protected, despite the antics of the government corrupting the money. Ditto Gold: a half ounce of gold would buy you the best toga in Rome 2000 years ago, or a very good suit of clothes in a haberdashery in N.Y.C. in 1900, or a Brooks Brothers suit today. The value compared to fiat paper currencies changes wildly... but the purchasing power does not. AGAIN, it depends on your level of alarm. IF you don't fear currency collapse, don't buy gold and silver. But if you think the POSSIBILITY of currency collapse doesn't exist (seeing as it has lost well over 90% of its purchasing power, and will soon lose the petrodollar status as well) THAT could be a normalcy bias that comes back to bite. Currency/economic collapse tops my list, so I hedge into gold and silver.
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  6. #35
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    Quote Originally Posted by StratMaster View Post
    They are in the business of buying and selling a product. So are the people selling freeze dried food. If the dollar doesn't collapse, you are not hurt by either... it's an insurance policy, not a get rich scheme of any kind.
    In 1965, your grandma gives you two dimes to purchase two Cokes. You decide to keep them instead, and put them in your pocket. One is a 1964 dime made of silver, the other the new 1965 dime made of pot metal...mostly of zinc with a copper sandwich. 50 years later in 2015 you become thirsty, and discover those two dimes still in your pocket. The 1965 pot metal dime will not really buy anything. But the silver dime can be sold for it's silver content (about$1.30) and buy a 1.25 liter Coke today. The purchasing power was protected, despite the antics of the government corrupting the money. Ditto Gold: a half ounce of gold would buy you the best toga in Rome 2000 years ago, or a very good suit of clothes in a haberdashery in N.Y.C. in 1900, or a Brooks Brothers suit today. The value compared to fiat paper currencies changes wildly... but the purchasing power does not. AGAIN, it depends on your level of alarm. IF you don't fear currency collapse, don't buy gold and silver. But if you think the POSSIBILITY of currency collapse doesn't exist (seeing as it has lost well over 90% of its purchasing power, and will soon lose the petrodollar status as well) THAT could be a normalcy bias that comes back to bite. Currency/economic collapse tops my list, so I hedge into gold and silver.
    But still if it going to set record price why sell keep it get rich double your money. They are still selling the only thing they say will have value for what they claim will have none.
    New life as a house husband, major shift in duties.

    Karl Marx said, "Destroy their culture, rewrite their history. Ruin their art and literature, and defame their heroes, by offering fabrications to scandalize that which they considered good.
    After reading this Obama said I am on it.

  7. #36
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    Quote Originally Posted by Smitty901 View Post
    But still if it going to set record price why sell keep it get rich double your money. They are still selling the only thing they say will have value for what they claim will have none.
    Smitty, gold is the single most traded commodity on the planet. Check out the monster global exchanges daily. ALL of the big boys know gold and silver are money. There are no gold backed currencies like we had when we were both younger, but every nation (except the USA) is stockpiling gold. China and India have been purchasing metric tons every year. This stockpiling can only mean one thing: anticipation of a gold backed currency in the future. The has been MUCH chatter about a gold backed Yuan which would instantly become the world's reserve currency... and obliterate our worthless, printed debt based dollars. Ditto a gold backed Dinar... going all the way back to the demise of Gaddafi.

    https://www.globalresearch.ca/hillar...rrency/5594742

    Everyone is in business UNTIL there is a catastrophic change. Buying and selling of ALL commodities: gold, silver, pork bellies, OJ, oil, futures... it all goes on until it crashes. While gold dealers DO have their own PERSONAL stockpile of gold and silver, much of what they are exchanging is INVENTORY. A Car dealership , for example, does not OWN every car on the lot outright: they are collateralized assets, some by the dealerships worth, some by loans based on a track record of sales. Gold is no different. It's a commodity these guys TRADE in, but do not own their entire stock/inventory outright. They pay bills, they maintain a businesses, they pay employee salaries... in federal reserve notes, not gold. To run the gold business, like any other, you have to produce a cash flow.
    Please understand: buying gold will NOT make anyone rich. If one oz. of gold today ($1260) buys one widget... then when gold goes to $50,000 per ounce it will STILL only buy one widget. The gold's value only went sky high in relation to the hyper-inflating dollars... and a widget in a hyper inflated monetary system would be priced at $50,000. Purchasing power remains the same. Nobody got rich. But nobody holding gold lost everything to digital ones and zeroes in a bank computer, or in a pile of worthless paper.
    I bought much of my gold at $200 oz. I didn't get excited when it went nearly to $1900, and I don't frown when it goes down in price. Its a hedge, not an investment... an insurance policy only. I could bore you with a lengthy opinion on why I think SILVER will be a great investment, but that's just OPINION based on my own years of being heavily involved in it. Regardless, its still a hedge. No way for me to lose, even if things chug along just fine and we never have an economic SHTF. Gold and silver have been money since civilization started, and will continue to be so. As the most highly traded commodity on the planet, there's no time when you can't sell if you wish.

    AND its not for everyone. Unless you have hundreds of thousands of excess dollars AFTER fully prepping in every other imaginable manner, then it's a moot argument anyway. I found myself with far too many federal reserve notes than I am comfortable holding... too many of my hard earned eggs in ONE suspect basket. It's not for people without fairly large assets, or who live paycheck to paycheck. It's to insure accumulated wealth.
    Last edited by StratMaster; 02-06-2019 at 06:43 PM.
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  8. #37
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    In 2007, when the stock market was crashing, and with huge political uncertainty due to the upcoming Presidential election season, I used to visit websites that predicted economic doom-n-gloom. The US Dollar perhaps no longer being the world's reserve currency, oil to be traded in Rubles due to a cabal headed by Russia and Iran in a plan to destroy America, and a myriad of other dire predictions.
    Since I had inherited some stocks, I paid attention to such things as the Baltic Dry Index, and precious metals investing. Every day, breathless salesmen were pushing silver and gold.

    Gold was over $1800 per ounce, and all the precious metals pundits were predicting gold at $3000 ounce or more, and coming soon, too!! Buy, Buy Buy!!!! DO IT NOW!!
    How many people bought into that rhetoric and spent their life savings on gold and silver?

    Out of curiosity, that $1800 gold sank as low as $872, before climbing back to where it is now, today, Feb 6, 2019 - $1314.21. That is not a very good return on investment.

    If the American, and world, economy was going to collapse, it would have done so many times already, from the Stock Market crash of 1929, to the Great Recession of 2006 & 2007.

    Meanwhile, all of the money I lost when I finally sold all my stocks, is not really lost at all. Each year I get to take $3000 (the annual max allowed) off the top of my income in the form of Capital Loss. And the remaining amount rolls over to the next year, and the next.
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  9. #38
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    Quote Originally Posted by rice paddy daddy View Post
    In 2007, when the stock market was crashing, and with huge political uncertainty due to the upcoming Presidential election season, I used to visit websites that predicted economic doom-n-gloom. The US Dollar perhaps no longer being the world's reserve currency, oil to be traded in Rubles due to a cabal headed by Russia and Iran in a plan to destroy America, and a myriad of other dire predictions.
    Since I had inherited some stocks, I paid attention to such things as the Baltic Dry Index, and precious metals investing. Every day, breathless salesmen were pushing silver and gold.

    Gold was over $1800 per ounce, and all the precious metals pundits were predicting gold at $3000 ounce or more, and coming soon, too!! Buy, Buy Buy!!!! DO IT NOW!!
    How many people bought into that rhetoric and spent their life savings on gold and silver?

    Out of curiosity, that $1800 gold sank as low as $872, before climbing back to where it is now, today, Feb 6, 2019 - $1314.21. That is not a very good return on investment.

    If the American, and world, economy was going to collapse, it would have done so many times already, from the Stock Market crash of 1929, to the Great Recession of 2006 & 2007.

    Meanwhile, all of the money I lost when I finally sold all my stocks, is not really lost at all. Each year I get to take $3000 (the annual max allowed) off the top of my income in the form of Capital Loss. And the remaining amount rolls over to the next year, and the next.
    Yep... a LOT of that rhetoric flying around back then, and you're right: a LOT of it CRAP. Again, my small stockpile is a hedge, an insurance policy... not an investment. Even Mitt Romney has $500K in PM's, it's not unusual for investors to have a 5-15% portfolio hedge (again, depending on your own level of alarm). Since I started buying PM's I have seen: 1) BRICS bypassing and undermining the sacrosanct "petrodollar" to trade oil/energy in their own currencies. 2) The IMF attempting to manifest a new currency as well. 3) Quantitative Easing... printing Federal reserve notes just as fast as the presses will run to keep it all temporarily afloat 4) Interest rates artificially suppressed to the point where people have only the stock market to beat inflation... giving a dangerous illusion of a prospering economy 5) Huge bank failure/bailout/moral hazard of 2008 6) Stockpiling of gold by China, with serious chatter about a new gold-backed Yuan 7) Outright refusals of auditing both the Fed and Fort Knox gold reserves. 8) (paper) Silver trading at levels which keep the price suppressed: our electronics industry consumes most of the 800,000 ounces mined yearly, and most is not recoverable. The electronics industry is driving our markets. Silver is traditionally valued at approx. 15 to 1 to gold ounce for ounce. Currently, with the heavy industrial demands for silver, a 60 to 1 ratio is an absurdly good buy and investment for the future.

    Again, for most people PM's are a moot point. But if one does have excess wealth and fears economic collapse, this is a hedge so as not to be wiped out: 5-15% of your portfolio. Some people fear nuclear war, some pandemic, some an asteroid strike. My #1 is still currency/dollar collapse... though I certainly prepare for the other stuff as well LOL.
    Last edited by StratMaster; 02-06-2019 at 07:30 PM.
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  10. #39
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    Quote Originally Posted by StratMaster View Post
    Yep... a LOT of that rhetoric flying around back then, and you're right: a LOT of it CRAP. Again, my small stockpile is a hedge, an insurance policy... not an investment. Even Mitt Romney has $500K in PM's, it's not unusual for investors to have a 5-15% portfolio hedge (again, depending on your own level of alarm). Since I started buying PM's I have seen: 1) BRICS bypassing and undermining the sacrosanct "petrodollar" to trade oil/energy in their own currencies. 2) The IMF attempting to manifest a new currency as well. 3) Quantitative Easing... printing Federal reserve notes just as fast as the presses will run to keep it all temporarily afloat 4) Interest rates artificially suppressed to the point where people have only the stock market to beat inflation... giving a dangerous illusion of a prospering economy 5) Huge bank failure/bailout/moral hazard of 2008 6) Stockpiling of gold by China, with serious chatter about a new gold-backed Yuan 7) Outright refusals of auditing both the Fed and Fort Knox gold reserves. 8) (paper) Silver trading at levels which keep the price suppressed: our electronics industry consumes most of the 800,000 ounces mined yearly, and most is not recoverable. The electronics industry is driving our markets. Silver is traditionally valued at approx. 15 to 1 to gold ounce for ounce. Currently, with the heavy industrial demands for silver, a 60 to 1 ratio is an absurdly good buy and investment for the future.

    Again, for most people PM's are a moot point. But if one does have excess wealth and fears economic collapse, this is a hedge so as not to be wiped out: 5-15% of your portfolio. Some people fear nuclear war, some pandemic, some an asteroid strike. My #1 is still currency/dollar collapse... though I certainly prepare for the other stuff as well LOL.
    You are a smart man and I agree with 99% of your points on this post. But damn man, you really need to learn to use your "Return" key! The post I quoted was an absolutely brilliant post, but damn it was hard to read without a few blank lines!

    Nicely done Sir! Just more blank lines, please!
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  11. #40
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    Quote Originally Posted by Inor View Post
    You are a smart man and I agree with 99% of your points on this post. But damn man, you really need to learn to use your "Return" key! The post I quoted was an absolutely brilliant post, but damn it was hard to read without a few blank lines!

    Nicely done Sir! Just more blank lines, please!
    Point taken!
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