The Dollar Completely going digital

[Mr Anabolic]

Having a few gold coins in your sock drawer in case of a financial crisis is ok but as serious investment plan for your future it will fail.

You could also buy a gold chain and wear it around your neck and if the sh*t hits the fan sell off a few links.  At least then you'd get some use out of the gold.

The folks that sell gold spread panic in order to sell gold.  Gold Bugs.  Their advertisements are common, especially in times of turbulence like now.

Assuming you know me, or what I have?      Ppl on this board assume way too much, or in this case, too little. 

You'll suffer from FOMO too... just wait.

[Mr Anabolic]

Buffet is also SELLING financials...

 - Berkshire's JPMorgan Stake Down 62% to 22.2M Shrs

 - Berkshire's Wells Fargo Stake Down 26% to 238M Shrs

 - Berkshire trimmed its bet on PNC Financial and M&T Bank as well as Bank of New York Mellon Corp., Mastercard, and Visa.

 - Berkshire Exits Goldman stake entirely.

What does this tell you? 

[King Shizzo]

I would say so.

I'm cherry picking the freaks. Most people are fine. Most builders are fine. But when someone says they want to pay cash I lose interest. I already know they mean they want to pay jack shit and it's not like I need the extra work.

Cherry picking the freaks? You have come to the right place.

[Tapeworm]

Regaled many a client with Best Of The Board stories. "But wait for this. Then Muscleboi69 replied 'As epic as my assless chaps?!'"

They love it. "Hey, that's great. So you'll be all done by Thursday?"

[GOLEAFSGO]

I have decent savings, no debt, will be moving to different part of my province here in Canada.

I’m planning buying silver for sure, but should I wait for the price to pull back a bit before spending that much on gold, or just act now in case it starts to apprciate again? I’d hate to miss my chance and have to pay more.

Assuming you know me, or what I have?      Ppl on this board assume way too much, or in this case, too little. 

You'll suffer from FOMO too... just wait.

[escrima]

Eat shit. Kwon is one of the best posters on here. You are like a tick on the ass of the board.

and you..are but a fart in the wind

[chaos]

It's the plan of the One World government.

[Mr Anabolic]

I have decent savings, no debt, will be moving to different part of my province here in Canada.

I’m planning buying silver for sure, but should I wait for the price to pull back a bit before spending that much on gold, or just act now in case it starts to apprciate again? I’d hate to miss my chance and have to pay more.

It def won't pull back on Monday.  Since Uncle Warren bought more Barrick shares, Sunday night gold futures should rise substantially.  Silver usually follows gold.

The bad thing about buying silver now is you'll be paying greatly increased premiums.  After the entire market tanked in March due to the plandemic, silver dropped all the way down to $12.  That was a tremendous gift, quite probably a once in a life time opportunity.  I backed up the truck when when that happened.

[King Shizzo]

It's the plan of the One World government.

Think about it.....it's paper! They literally print whatever they need. Billions, trillions, and now people are waking up....


Why is gold valuable? Why are diamonds valuable? Stock market?

What is a stock? All of it is controlled.

So yes, the government can print money any time they want.

[chaos]

Think about it.....it's paper! They literally print whatever they need. Billions, trillions, and now people are waking up....

So yes, the government can print money any time they want.

Very leftist thing for you to say.

[King Shizzo]

Very leftist thing for you to say.

I don't have any political ties to anything. I'm also right handed.

[IroNat]

Think about it.....it's paper! They literally print whatever they need. Billions, trillions, and now people are waking up....


Why is gold valuable? Why are diamonds valuable? Stock market?

What is a stock? All of it is controlled.

So yes, the government can print money any time they want.

Gold is rare but diamonds are artificially propped up in value.

DeBeers has vaults full of diamonds kept off the market just to create scarcity.

[IroNat]

Buffet is also SELLING financials...

 - Berkshire's JPMorgan Stake Down 62% to 22.2M Shrs

 - Berkshire's Wells Fargo Stake Down 26% to 238M Shrs

 - Berkshire trimmed its bet on PNC Financial and M&T Bank as well as Bank of New York Mellon Corp., Mastercard, and Visa.

 - Berkshire Exits Goldman stake entirely.

What does this tell you? 

Basically tells me Buffett realizes he made a mistake buying them in the first place.

He has made some bad moves in recent years such as his investments in airlines.

Good luck with your gold and hopes of a world in chaos.

When you show up at the supermarket with your gold be careful and watch out for people following you home.

If gold goes to $5,000/ounce will you sell?  If you sell your gold what will you get in exchange for it?  Paper dollars?  Digital dollars?

If you hang on to your gold you will have realized no gain and at some point the gold price will crash.  So no profit.

Kind of a dilemma.  In the meantime your gold just sits there producing zero cash flow.

I'll stop bugging you.  Sometime I just argue for the sake of arguing.

Still would be interested in where you keep your gold bars and coins...

[Mr Anabolic]

Basically tells me Buffett realizes he made a mistake buying them in the first place.

He has made some bad moves in recent years such as his investments in airlines.

Good luck with your gold and hopes of a world in chaos.

When you show up at the supermarket with your gold be careful and watch out for people following you home.

If gold goes to $5,000/ounce will you sell?  If you sell your gold what will you get in exchange for it?  Paper dollars?  Digital dollars?

If you hang on to your gold you will have realized no gain and at some point the gold price will crash.  So no profit.

Kind of a dilemma.  In the meantime your gold just sits there producing zero cash flow.

I'll stop bugging you.  Sometime I just argue for the sake of arguing.

Still would be interested in where you keep your gold bars and coins...

You misunderstand me.  I never "hope" for world chaos, but what we've seen so far this year was only the warm-up.  The chaos/civil unrest/riots/looting will increase as the year goes on... and after November (regardless of who is POTUS) look out!  PMs (and ammo) are the only tangible insurance against what is coming. 

You're not bugging me at all.  I actually tend to agree with most of your comments on this forum.  However, in this thread you are showing ignorance of fiat currencies, monetary history and wealth cycles.  It's all about timing.  There is a time to own certain assets and there is a time not to own them.  The time to own PMs is NOW.   

[IroNat]

You misunderstand me.  I never "hope" for world chaos, but what we've seen so far this year was only the warm-up.  The chaos/civil unrest/riots/looting will increase as the year goes on... and after November (regardless of who is POTUS) look out!  PMs (and ammo) are the only tangible insurance against what is coming. 

You're not bugging me at all.  I actually tend to agree with most of your comments on this forum.  However, in this thread you are showing ignorance of fiat currencies, monetary history and wealth cycles.  It's all about timing.  There is a time to own certain assets and there is a time not to own them.  The time to own PMs is NOW.   

Well, I can agree with that.  That is speculation.  You are speculating that there will be chaos and preparing in case.

Always smart to be prepared. 

I can agree with that being a possibility. 

Bullets are good to have. 

[Mr Anabolic]

Well, I can agree with that.  That is speculation.  You are speculating that there will be chaos and preparing in case.

Always smart to be prepared. 

I can agree with that being a possibility. 

Bullets are good to have.

There WILL be chaos.  That is self-evident.

Do you own any stocks or other paper assets?... well you are speculating the market will keep going up.

Good luck to you.

[IroNat]

There WILL be chaos.  That is self-evident.

Do you own any stocks or other paper assets?... well you are speculating the market will keep going up.

Good luck to you.

Yes, I have stock investments but only index funds.

I expect the market to increase over time as it has over the last 100 years or more but also expect large, periodic market crashes and also more frequent market volatility.

I have been through 4 serious market crashes in my lifetime.  Also survived threats of nuclear Armageddon in my childhood.

Numerous times has holding gold and precious metals been touted as the savior to threats of chaos.  Carrying 5% of your investments in precious metals is not a bad strategy for diversification but will this be physical possession of gold?  Only actual physical possession of gold would be of value in real chaos and perhaps not even then.  Gold is only of value for goods if there is a willing buyer and seller.  What good would gold be in true chaos?  The goods are what has true value.  You can't eat gold.  So, you need some sort of stable government to make such exchanges possible.  Otherwise, if gold has real value, someone will just take your gold by force.

So, keep lots of bullets.

[epic is back]

Yes, a big mistake... HUGE mistake!   

If Buffet thinks gold is so bad why did he just buy $20 million in Barrick stock?... for the dividend? - lol   Buffet was suffering some serious FOMO... that's why.  He knows where gold is going... to the moon. 

Funny thing is that Warren's daddy (Howard Buffet) was a huge devotee of gold.

He is buying it to re- sell to the same Suckers

It’s the I have it and you don’t strategy

Works on most

But you can’t eat the gold? Of use it to keep warm

And gold doesn’t fire bullets

It’s useless unless you make tech for a living

[OneMoreRep]

I can't speak for anyone else, but what I'm doing during these times is simple and has worked (for others much smarter and wealthier) over the last century.

Diversified investments with wealth distribution as follows:
30% in ETFs
30% in real estate holdings (cash flowing rental properties)
30% in cash (mostly in a HYSA online + some on hand)
10% US bonds

Everything we attempt to do now is merely speculation. These things are in fact cyclical (sometimes every 100yrs, but other times more palpable over 10yr spans) and while a perfect formula doesn't exist, others have stuck to simple ways of maintaining wealth before and after drastic economic downturns, to decent avail.

Even the best investors (Buffett etc) fail to hit the mark sometimes, but they typically stick to the time proven strategy (invest in the market, don't trade in it + diversify).

"1"

[epic is back]

I’m selling all stocks

My Tesla stock went from 250 a share to now 1600 a share In less than a year

Going to pay all debts and keep the cash in a safe

Use it as needed in local stores who still accept it

Buy house in cash

And live free with no money tied up in digital securities

Maybe good rum can be my financial advisor

[OneMoreRep]

Maybe good rum can be my financial advisor

You speak of Goodrum as if he were cheap to hire. I'll have you know that his fees are much hire than the average fund manager. Unless you can afford to have your money managed within a top 3 hedge fund, the name Goodrum should not even cross your lips.

"1"

[El Diablo Blanco]

I’m selling all stocks

My Tesla stock went from 250 a share to now 1600 a share In less than a year

Going to pay all debts and keep the cash in a safe

Use it as needed in local stores who still accept it

Buy house in cash

And live free with no money tied up in digital securities

Maybe good rum can be my financial advisor

How many shares did you have?  Good call on buying Tesla a year ago.  Fucking stock market is nuts.  So many overpriced companies.  A crash is around the corner.

[El Diablo Blanco]

Buffet is also SELLING financials...

 - Berkshire's JPMorgan Stake Down 62% to 22.2M Shrs

 - Berkshire's Wells Fargo Stake Down 26% to 238M Shrs

 - Berkshire trimmed its bet on PNC Financial and M&T Bank as well as Bank of New York Mellon Corp., Mastercard, and Visa.

 - Berkshire Exits Goldman stake entirely.

What does this tell you? 

What this tells you is that interest rates are too low and lending has come to a halt.  So holding on to stocks that won't budge for a while is not worth it.  I think BH's total portfolio consists of Apple shares that he bought at $90-150 bucks. 

Let me tell you something.  Buffet knew this pandemic was coming.  I'll tell you why.

Back in around 2003/04 he bought Prudential Realty and renamed it to BH Realty.  It became his bluechip stock for a few years.  He bought this right before the housing boom and got out before the bust.

Ironically Apple has gone fucking ballistic in sales during COVID.  You don't think Buffet know this was coming?  Again he dumps all of his eggs into one basket and sure enough a perfect storm hits that drives Apple stock insanely high.  Just like the perfect storm that ran the real estate market up before 2008.  Buffet knows this shit about a year or two before anyone else does.  Fucker is in on a lot of shady shit.

[IroNat]

Buffett can call any CEO in the world and get info about company prospects.

We can't.

It's a game we can't play so don't try.

I buy index funds and track the market which is adequate.

[OneMoreRep]

You don't think Buffet know this was coming? 

Buffet knows this shit about a year or two before anyone else does.

100% true.

Words can be used to lie, but actions speak the truth. I follow Buffett's financial moves both in the market and also by way of his philanthropic ventures (ie NoVo foundation + other companies) and he knows how to play every possible angle and typically balances both sides to the financial equation quite well.

Don't let the ice cream with the grandkids and coca cola can on hand fool any of you, the man is a genius.

Follow the trail of money and you'll likely fare very well financially if you do as they do and will ALSO understand how the American financial market works.

"1"