What are you doing with your "petty" cash? Where are you hiding it?

[backpacker]

You will never make a los on Gold maybe you will not make big profits compared to stocks and crypto, but as @Golden Fleece mentioned, consider it an insurance.

An insurance is for emergency. How can anybody still consider gold an insurance when it goes down during the specific emergency-event?
True, a couple of months after the emergency-event gold might rise but that is usually in tandem with other assets: In 2008 gold started it's rise when the stock market gained ground again, same in 2020. Sad thing: While all other assets continue to rise, gold usually retreats after a short hype.
The insurance-qualities of gold are doubtful at best. Who likes to have an insurance that pays when you do not need it anymore?

But why only discuss Gold, some mentioned already whisky, champagne, wine and art ?

An excellent question. Specifically in light of the fact that this thread has turned into a mirror of the comments corner of a well known gold-bug website.

Whiskey, champagne, wine and art. We can add old cars, antiquities in general, carpets, watches .... to the list. The problem with all this stuff is that it usually comes with high maintenance cost and/or eats up a lot of room to store. Moreover it is illiquid. If you need to sell it, every half-way savvy buyer sniffs it and will haggle you to the ground.
These collectible s are no e to have. But it is a very bad idea to sell them in case of a global emergency, real pandemic (not what politicians want to make us believe right now) or during times of war.
There is a reason why many people like plain cash. Best to keep it in the most liquid and most widely accepted currency on Planet Earth. Only when you have a sufficient amount of that boring cash you can start with collectibles.

 

[JohnnyDoe]

Now you are just being purposely obtuse. As I already stated, "Just as you cash out an insurance policy in the wake of a catastrophe, you must also cash out your gold during a panic when its value has peaked." If you cash out during a panic, which is the fundamental purpose of holding gold as insurance, then you have sold at a market top, a.k.a. at a parabolic blow off top. Perhaps you are so used to buying at market tops yourself that you cannot possibly envision that other people can know what they are doing.

Sorry I didn’t consider the fact that you just need to buy at the bottom and sell at the top!

And even if you do lose money, so what. Gold is insurance. People lose money on their insurance policies all the time. That is the nature of insurance. In fact, you should hope to lose money on insurance, because it means that the worst did not happen. It seems that you simply do not understand the concept of insurance.

Yeah, you just lose 70% on your insurance that is supposed to hold its value, so what? Blame on you if this happens because you are so stupid not to buy at the bottom.

And I never mentioned gold bars. You did. You can hold gold coins or whatever you wish as your insurance.

Gold coins at gold spot price! Damn that’s so easy!

If you live in a free country, firearms hold their value very well, especially if you buy them used. I recently sold a German-made air rifle for over $700 on ebay. It was made in the late-1970's and I purchased it for $125 at an estate auction about fifteen years ago. Not a bad return for something that you can also use while you own it. I do not think that I have ever lost money on either a used firearm or a used high-grade watch.

Firearms on eBay? Why didn’t I think of that before? That’s how to cash the few granades I have in my garage. So easy! I will also list that Barrett .50 that I find too light as an everyday shooter.

 

[369]

An insurance is for emergency. How can anybody still consider gold an insurance when it goes down during the specific emergency-event?
True, a couple of months after the emergency-event gold might rise but that is usually in tandem with other assets: In 2008 gold started it's rise when the stock market gained ground again, same in 2020. Sad thing: While all other assets continue to rise, gold usually retreats after a short hype.
The insurance-qualities of gold are doubtful at best. Who likes to have an insurance that pays when you do not need it anymore?


An excellent question. Specifically in light of the fact that this thread has turned into a mirror of the comments corner of a well known gold-bug website.

Whiskey, champagne, wine and art. We can add old cars, antiquities in general, carpets, watches .... to the list. The problem with all this stuff is that it usually comes with high maintenance cost and/or eats up a lot of room to store. Moreover it is illiquid. If you need to sell it, every half-way savvy buyer sniffs it and will haggle you to the ground.
These collectible s are no e to have. But it is a very bad idea to sell them in case of a global emergency, real pandemic (not what politicians want to make us believe right now) or during times of war.
There is a reason why many people like plain cash. Best to keep it in the most liquid and most widely accepted currency on Planet Earth. Only when you have a sufficient amount of that boring cash you can start with collectibles.

you don't understand gold and its agenda by the elite behind it.
Gold had a peak in 2008 so all goldmines would be flooded with money and they would start mining.Price went quickly down so central banks and other institutions could buy that metal for cheap money.
Retailers were not interrested because of the descending price and because of bad return.
Mission accomplished dumb money didn't enter gold.
So what does it caused now more ?
In 2021 world wide gold mining reached the peak.Means the amount of produced gold will now only go down because majority have already being mined.
Thats why many companies are looking for any new gold reserves under ground which they are willing to pay extremly high prices.
More important based on offical reports and guidelines its clear gold will be added back into the monetary system.
I doubt you understand what that means for gold.

You instead focus on what pseudo "experts" tell people to invest in not thinking if there is still demand should majority of the middle class vanish.BIG MISTAKE.

You will get milked like people every cycle myself included.
I had MBA on one of the best universities in the world ,read all opinions and articles from experts and thought i know how to invest.
I got rekkt in the dotcombubble because i was so stupid beliving in the crap the system tells you instead of focusing on my own personal opinion and analyzes.
I was thinking a lot and the conclusion was the game is rigged and the pseudo experts just want one and that is your money by selling high overpriced /overhyped goods.
Beginning in real estates,stocks,wine,watches etc.

Tell me who needs in a bear cycle a watch for a price which you want to be equal to your purchase price or higher when everything else gets cheaper

 

[JohnnyDoe]

It’s so much easier to fake a gold bar by filling it with tungsten than faking a Rolex!

 

[Golden Fleece]

It’s so much easier to fake a gold bar by filling it with tungsten than faking a Rolex!

And it is so much easier to identify a fake gold bar than to identify a fake Rolex. Some new fake Rolexes are so good that even watchmakers with decades of experience can get fooled. On the other hand, simply buy your gold from a reliable source with the right testing equipment and the problem is solved.

Identifying Fake Gold Bars

In the past we have written about fake gold bars and how investors can identify the authenticity of Gold and...

www.celticgold.eu

 

[JohnnyDoe]

And it is so much easier to identify a fake gold bar than to identify a fake Rolex. Some new fake Rolexes are so good that even watchmakers with decades of experience can get fooled. On the other hand, simply buy your gold from a reliable source with the right testing equipment and the problem is solved.

Identifying Fake Gold Bars

In the past we have written about fake gold bars and how investors can identify the authenticity of Gold and...

www.celticgold.eu

83 Tons of Fake Gold Bars Backing $3 Billion Loans in China: This Man Claims to Know the Truth – News Bitcoin News

The gold industry was shaken when it was discovered that 83 tons of fake gold bars were used to back loans worth 20 billion yuan in China. While Chinese authorities have not said whether the real gold exists or where it is, an insider claims to know what happened.

news.bitcoin.com

Try to fake a bitcoin

 

[backpacker]

Gold had a peak in 2008 so all goldmines would be flooded with money and they would start mining.Price went quickly down so central banks and other institutions could buy that metal for cheap money.
Retailers were not interrested because of the descending price and because of bad return.
Mission accomplished dumb money didn't enter gold

During the past 10 years almost every other asset class fared better. So, the dumb money was the smart money because it did not enter.

The price of gold, silver and platinum is manipulated (by the governing elite and it's banksters). That is the only agenda here. And there is absolutely no chance for precious metals to escape the constant manipulation.
I do not need a manipulated insurance!

I was thinking a lot and the conclusion was the game is rigged and the pseudo experts just want one and that is your money by selling high overpriced /overhyped goods.
Beginning in real estates,stocks,wine,watches etc.

Tell me who needs in a bear cycle a watch for a price which you want to be equal to your purchase price or higher when everything else gets cheaper

Fully agree with that part of your post. In fact, what I wrote in my post #41 is about the same when it comes to collectibles: Not useful in times of a real crises.

 

[Golden Fleece]

collectibles: Not useful in times of a real crises.

Agreed. During a crisis, cash is king. During a crisis, the smart money guys cash in their insurance policy (gold) for cash and then they buy all the (now) undervalued assets that the dumb money guys liquidated during the crisis, because they were so over-leveraged. By cashing in their gold during a crisis, the smart money guys now have three or four times as much spare cash as they would have had if they had not bought gold. Not only does gold hedge a portfolio, but it gives you cash during a crisis when most other assets are getting dumped at fire sale prices.

For example, investors dumped everything in 2008 -- including gold -- but gold then rose dramatically over the next 3-4 years. It peaked just at the point that real estate prices finally hit bottom in the U.S. (Land prices always bottom years after the stock markets bottom.) So, if you cashed out of gold and bought real estate with your insurance money, you made a killing. But you need to know about these economic cycles. Just read "The Secret Life of Real Estate and Banking," by Philip Anderson.

Amazon.com

The problem is that people fail to educate themselves. They make the same mistakes over-and-over, always thinking that "this time it will be different." Economic history has repeated in cycles for hundreds of years -- and a financial crisis always involves interest rates, easy credit, and over-leveraging.

 

[cuno]

Sorry I didn’t consider the fact that you just need to buy at the bottom and sell at the top!

The price of gold, silver and platinum is manipulated (by the governing elite and it's banksters). That is the only agenda here. And there is absolutely no chance for precious metals to escape the constant manipulation.
I do not need a manipulated insurance!

good point - what's your preferred alternative then?

They make the same mistakes over-and-over, always thinking that

monkey see, monkey doo

 

[backpacker]

what's your preferred alternative then?

• Ultra short term US Treasury Bonds. Duration about 4 to 5 months maximum! Due to the high cost of shifting them every couple of months this is best done through a fund/ETF.
• Plain cash. Currency: The most liquid and most widely accepted one on Planet Earth.

This has nothing to do with investing. This is just a highly liquid, well-functioning insurance.

 

[JackAlabama]

And it is so much easier to identify a fake gold bar than to identify a fake Rolex. Some new fake Rolexes are so good that even watchmakers with decades of experience can get fooled. On the other hand, simply buy your gold from a reliable source with the right testing equipment and the problem is solved.

Identifying Fake Gold Bars

In the past we have written about fake gold bars and how investors can identify the authenticity of Gold and...

www.celticgold.eu

That is more myth than practice about the watches. I would love to buy such a super dooper power ultra fake from space which is so good it passed for a real one.

For gold you need machinery like e.g. ultrasound to check for it being indeed genuine and good it is.

 

[369]

During the past 10 years almost every other asset class fared better. So, the dumb money was the smart money because it did not enter.

The price of gold, silver and platinum is manipulated (by the governing elite and it's banksters). That is the only agenda here. And there is absolutely no chance for precious metals to escape the constant manipulation.
I do not need a manipulated insurance!

Fully agree with that part of your post. In fact, what I wrote in my post #41 is about the same when it comes to collectibles: Not useful in times of a real crises.

You never heard about BASEL 3 and more important you still don't get it gold is going to be reimplemented to the monetary system.
Something like that happens over a weekend where noone can react.
I don't need performence of gold now because i don't plan to sell it anyways.
If you want to still collect more profit you can use that gold as collateral and use money you invest somewhere else which brings more currently more profit.
However the final winner will be gold and noone of us knows when exectly its going to happen

 

[backpacker]

You never heard about BASEL 3 and more important you still don't get it gold is going to be reimplemented to the monetary system.
Something like that happens over a weekend where noone can react.
I don't need performence of gold now because i don't plan to sell it anyways.
If you want to still collect more profit you can use that gold as collateral and use money you invest somewhere else which brings more currently more profit.
However the final winner will be gold and noone of us knows when exectly its going to happen

It amazes me that you believe gold will be reimplemented into the monetary system. No government/central bank of significance will do that. Kazakhstan or Kyrgyzstan are not exactly relevant in this context and even they do not do it (they just hoard it in large quantities).

You will be surprised when one day the first company comes up with a credible project regarding space mining. Already the announcement of such a project will bring the price of gold down to it's knees.

But before that we will see what gold does when the FED pushes through and raises interest rates significantly. Recall 1980

 

[369]

It amazes me that you believe gold will be reimplemented into the monetary system. No government/central bank of significance will do that. Kazakhstan or Kyrgyzstan are not exactly relevant in this context and even they do not do it (they just hoard it in large quantities).

You will be surprised when one day the first company comes up with a credible project regarding space mining. Already the announcement of such a project will bring the price of gold down to it's knees.

But before that we will see what gold does when the FED pushes through and raises interest rates significantly. Recall 1980

oh men.....you ever read governmental documents or from imf which will implement global money via their CDR's ?
You talk with no knowledge.
I can tell you what will happen because of the raised interest rates.The econamy will massivly slow down and gold price like anything else will go down due to deflationary margin call.
However you don't belive that 1-2% additional interest rates can fight a real inflation of 10-15%+

I hope you remember which interest rates they implemented in 1980 to fight inflation.
Try it now and the economy is down instantly.
But still like i wrote multiple times already gold is no more hedge.It gets back implemented into the new monetary system.
And if you understand a monetary system with gold you will know how much gold will be worth

 

[Golden Fleece]

That is more myth than practice about the watches. I would love to buy such a super dooper power ultra fake from space which is so good it passed for a real one.

For gold you need machinery like e.g. ultrasound to check for it being indeed genuine and good it is.

I collected high-quality watches for several decades. Rest assured, people are paying $500 or more (into the thousands of dollars) for fake Rolex watches that even many watchmakers have problems identifying. It is not a myth.

As time goes on, the money invested into making them much higher quality is justified by the exorbitant prices, running now to the thousands, not hundreds of dollars people are prepared to pay for fakes.

Watchfinder tells us 3 reasons why Rolex fakes are getting so good

Rolex fakes have always existed. That’s just the way it is. But it used to be pretty easy to spot an imposter ...

timeandtidewatches.com

Is there a fake Rolex that is so perfectly made that it can't be spotted?

Answer (1 of 30): Yes, absolutely. And it's often impossible to spot, except perhaps by a true Rolex historian, because the best fake Rolexes are 95% made by Rolex. First, let's start with a (non-comprehensive) list of ways that people (including jewelers) typically check for fake Rolexes, from ...

www.quora.com

People have displayed so much ignorance about so many issues on this single thread -- issues on which they could educate themselves by simply using Google and by reading for a few minutes -- that I am now leaving this thread for good -- and possibly this forum. I see little difference between many of the people on this forum and the people who write the fake news that I try to escape by coming here. Our culture has so thoroughly deteriorated that it has permeated everywhere. Critical thinking is truly dead.

 

[uplana]

And it is so much easier to identify a fake gold bar than to identify a fake Rolex. Some new fake Rolexes are so good that even watchmakers with decades of experience can get fooled. On the other hand, simply buy your gold from a reliable source with the right testing equipment and the problem is solved.

Identifying Fake Gold Bars

In the past we have written about fake gold bars and how investors can identify the authenticity of Gold and...

www.celticgold.eu

agree, it's not difficult to find a valid dealer you can trust when you want to by Gold.

But still like i wrote multiple times already gold is no more hedge.It gets back implemented into the new monetary system.
And if you understand a monetary system with gold you will know how much gold will be worth

So what's our alternatives.