by armati on Sun Nov 11, 2018 1:33 pm
2 dimes
Currency is not difficult to exchange, currency is what people decide to use.
From wheat,seashells,feathers whatever...gold is just what the entire world agreed upon.
The point of phyzz gold is retaining purchasing power. As the dif years and prices I posted show.
Thats all it does, altho it can spike it will return to its trajectory.
Swings in prices mean zero to a phyzz holder that understands the purpose of owning it.
5-10% every month regardless of the price.
If you are looking to make a large profit on gold, look to jr mining. Phyzz aint the game.
When investing most people that understand it work in %s, phyzz gold is 5-10% of a portfolio.
Altho I do know 1 or 2 people that are in metal 100%, those people are pretty rare.
When a person buys gold, its done every month, not all at 1 time, thats done to average the cost.
You could be right about gold becoming valueless, who knows? I will continue to own mine.
Watch what happens to the pensions, anyone depending on the sears pension sure is glad they saved 5-10% in gold now.
I mention sears as your canadian, in the states LOTS of people have their pensions reduced or lost them entirely.
Please dont jump to the conclusion of "well they didnt need gold if the bought xxx"
gold is 5-10%, they had 90-95% to buy xxx.
The %s are of investable income of course.
There are risks to absolutely everything, gold has no counter party risk, gold also retains purchasing power, it has a purpose.
RAM
Excellent point about the banks, goldbugs have a saying "If you dont hold it, you dont own it"
Banks have lots of reasons they could shut down.
It would totally suck if your credit card, debit card suddenly didnt work.
Bank "holidays" are nothing new.
Which is why people should use cash or at least keep enough to survive a week or two until the bank "holidays" are over.
Things like the fdic dont come close to covering the amount of debt in the system.
Also, when you deposit cash, it becomes bank property. If you dont hold it you dont own it.
I bet the people here will say "armati is nuts" lol
They can argue all they want, think they get their cash if something happens to their bank?
Remember the bank bail outs? Cypress,Greece?
The worlds debt is 233 trillion, the U.S. alone is 21 trillion, who the heck is gonna bail that out?
Ya ya, debt jubilee, any day now Im sure.
Personally I use cash.
End babble.
