Idk man, seems like a bad deal. No yield, difficult to liquidate, low return historically vs stocks, and gold has relatively few uses, and even less in a really bad shtf scenario.
And as devo points out, that if things get so bad the dollar is not worth anything, people will just steal the fat old people's gold from them along with truly valuable things like fuel, food and water.
Silver seems slightly better though, but I am going to trust the US will still be afloat for at least the next 50 years or so I'll likely be alive and invest in the s&p 500.
If you bought the market vs gold these past ten years would be further ahead methinks. But as always you do you!
Originally Posted by zippyboy
Precious metals are a hedge and insurance policy. Silver is used in just about everything we use. It’s the most conducive and reflective metal on earth. No silver no green new scam. China is scooping up as much as they can for production of solar panels and EVs. Once the silver is used, it’s gone. So, the Silver to Gold ratio is out of wack. It’s 88/1. It should be closer to 8/1.
The spot price of silver was 27.34 yesterday. It’s still affordable. Buy physical silver or gold. Keep it in your possession. If you don’t hold it, you don’t own it. Paper transactions can be gone with a click of a mouse.
If you don’t think there’s a banking crisis in the world you haven’t been paying attention. Same with the USD. The Petro Dollar is over. Saudi Arabia and other OPEC countries are now accepting other currencies for oil. The BRICS Alliance is accepting other currencies as settlement. And are creating their own currency. Probably backed by gold. The banks are heavily invested in bonds and derivatives backed by small amounts of assets. If the derivative markets bubble bursts, goodbye banks. 4 banks failed last year. That was just the beginning.
Protect yourself or not. You do you.