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Jim Rogers has been saying for a long time now to buy things related to agriculture---preferably farmland. It is selling at premium prices as well although you might pick up something in the drought parts of the country.
He also recommends part of a portfolio to be in metals. He believes the system will collapse.
Rogers is a billionaire who ex-pated to Singapore. For myself, I have to live where I am. Full disclosure, I don't own any metal. It might have been a good idea when it was 300 dollars compared to now, but for me it is too late. I have no interest in buying any. I don't know how that system works. If there were utter economic collapse, I don't know how gold/silver would play in that scenario. If someone came to me and said I'll give you gold for a bag of rice, I'd say no. I would not take a bag of gold for a bag of rice. But gold has this much value the rice buyer says. Who establishes the value of the gold? Scarcity is what makes something valuable and if food is scarce, then food rules. Someone, some group, somewhere, establishes the value of an ounce of gold. OK. They can manipulate the markets. By the time you get into action, you have already lost. Happens in the stock market routinely. As George Carlin said, "it's a club and you ain't in it".
What I do know is that being debt free, which I am, I relax a lot more. All I have to do is pay my annual property tax bill which isn't onerous all things considered.
I also know the government will never allow a competing currency including gold or silver. If metals become a competing means of exchange, there will be a huge crackdown on its use similar to having a bag of cocaine on you. If a country loses its currency, then all is lost indeed. At least lost for the vast, vast majority of people. There is cyber currency in which all currency goes digital such as with EBT cards. I actually expect that to come along at some point partly as a means of killing off drug money laundering and drug dealing. I'm a bit surprised the country has not already gone to that system.
As for the original question by the OP, I would personally never put all my cash into any one commodity or investment. The Law of Unintended Consequences obtains as well as Murphy's Law.
You are living in times of unprecedented opulence. If you believe they will not last through your life time, it makes more sense to enjoy them while you've got them, than to quit now and walk away from it and bring on your immediate post-apocalypse..
Putting 100% of my "money" in gold, silver, platinum, palladium
and also for the first time thinking of adding some more rare metals
such as osmium, iridium, rhodium, etc.
The proverbial is going to hit the fan, and even if it doesn't, governments
are only going to inflate, monetize debt. Financial infrastructure is terribly
vulnerable and manipulated. Can see "bank holiday" happening, not a joke,
and ATM cash restrictions.
Thinking about converting 50%-100% of my "cash" into metals
then selling the metals as I need to use cash only "as needed".
Totally off the books also.
Thoughts ?
Thoughts?
Well, I personally think it is a very wise decision and something that I have been contemplating myself as well. I however have some issues that I have not been able to resolve, perhaps you have thought about the same problems that came to my mind, and hopefully you have a solution you could share.
I am untrusting enough of the government to believe there could be another Gold Confiscation, like the one that happened in 1933. For that reason:
1) I do not feel comfortable putting my money in ETF's, because if a confiscation really happened there would be no way you could salvage your precious metals.
2) I do not feel comfortable owning physical gold in someone else's "Secure Vault", as you don't know what companies could rip you off.
3) I do not feel comfortable hoarding precious metals in my home, because if SHTF, it is possible that someone could find out somehow and you and your family would no longer be safe in your own home. (P.S. It doesn't matter if I have a replica of Ft. Knox in my basement, when a criminal has a gun pressed against my child's head, I'm going to open that vault.)
Basically, I love the idea of precious metals, as they cannot be inflated and will never lose value, I just cannot find any way that I would consider safe enough to store them. Any ideas would be greatly appreciated.
Based upon physical demand in London, COT data and evidence of capping algorithms in place to diminish the price of PMs I would say this bull run still has a long long way to go. I'm so far unconvinced by arguments that gold is somehow in a bubble or is about to tank. Any notion that the spot price of gold is somehow behaving as it should be is quickly extinguished by sitting in front of trading desk for a few hours.
Well, I personally think it is a very wise decision and something that I have been contemplating myself as well. I however have some issues that I have not been able to resolve, perhaps you have thought about the same problems that came to my mind, and hopefully you have a solution you could share.
I am untrusting enough of the government to believe there could be another Gold Confiscation, like the one that happened in 1933. For that reason:
1) I do not feel comfortable putting my money in ETF's, because if a confiscation really happened there would be no way you could salvage your precious metals.
2) I do not feel comfortable owning physical gold in someone else's "Secure Vault", as you don't know what companies could rip you off.
3) I do not feel comfortable hoarding precious metals in my home, because if SHTF, it is possible that someone could find out somehow and you and your family would no longer be safe in your own home. (P.S. It doesn't matter if I have a replica of Ft. Knox in my basement, when a criminal has a gun pressed against my child's head, I'm going to open that vault.)
Basically, I love the idea of precious metals, as they cannot be inflated and will never lose value, I just cannot find any way that I would consider safe enough to store them. Any ideas would be greatly appreciated.
well, Waiboi, concerning the possibility of another confiscation, I do not believe they
would bother.. the most often reason I've heard among gold bugs for why the Gov
did it then, and why they won't do it now, is this: Virtually nobody in this country
personally owns any physical gold. There is so little gold held by individuals in America.
Compare that fact with the old America - when legal tender was not only backed by gold
(meaning REDEEMABLE, not merely mathematically-linked), but was THE ACTUAL SPECIE
in gold coin. Gold used to be THE legal tender, along with silver. Everyone had some.
There was enough to make it worth the whole effort. Still, many defied this order and
kept their gold. When the crisis hits, the last thing they will care about is the 1% of Americans
who own physical gold, and far less than that in any substantial quantity.
More likely is that the dollar will collapse and be replaced by some "gold-linked" or silver-linked
currency, still not actually redeemable, of course. That's because the world elite are hoarding it.
check this out:
Eric King: “Nigel, countries have been looking to repatriate their gold because of concerns their gold has been leased out in some sort of US/Britain Ponzi scheme, where they are using paper leasing tactics and moving the countries gold they are (supposed to be) storing out of those vaults. We just had the Queen tour the vault and it was fascinating the timing of that because there is this move to repatriate the gold, your thoughts on that?”
Farage: “Yes, that was a very symbolic move wasn’t it, the Queen doing that? To sort of feel that at least we’ve got some gold in this country. Yes, I’ve read and thought a lot and there are certainly several American commentators pointing out that there may well be, in terms of gold reserves and their reality, a huge fraud going on.
I don’t know. But I’m just struck that if you look over the last 10 to 15 years, the clever governments have been buying gold, and the idiots have been selling gold. And those that buy gold don’t just buy paper, they make sure they’ve physically got the stuff.” King World News
well, Waiboi, concerning the possibility of another confiscation, I do not believe they
would bother.. the most often reason I've heard among gold bugs for why the Gov
did it then, and why they won't do it now, is this: Virtually nobody in this country
personally owns any physical gold. There is so little gold held by individuals in America.
Compare that fact with the old America - when legal tender was not only backed by gold
(meaning REDEEMABLE, not merely mathematically-linked), but was THE ACTUAL SPECIE
in gold coin. Gold used to be THE legal tender, along with silver. Everyone had some.
There was enough to make it worth the whole effort. Still, many defied this order and
kept their gold. When the crisis hits, the last thing they will care about is the 1% of Americans
who own physical gold, and far less than that in any substantial quantity.
More likely is that the dollar will collapse and be replaced by some "gold-linked" or silver-linked
currency, still not actually redeemable, of course. That's because the world elite are hoarding it.
check this out:
Eric King: “Nigel, countries have been looking to repatriate their gold because of concerns their gold has been leased out in some sort of US/Britain Ponzi scheme, where they are using paper leasing tactics and moving the countries gold they are (supposed to be) storing out of those vaults. We just had the Queen tour the vault and it was fascinating the timing of that because there is this move to repatriate the gold, your thoughts on that?”
Farage: “Yes, that was a very symbolic move wasn’t it, the Queen doing that? To sort of feel that at least we’ve got some gold in this country. Yes, I’ve read and thought a lot and there are certainly several American commentators pointing out that there may well be, in terms of gold reserves and their reality, a huge fraud going on.
I don’t know. But I’m just struck that if you look over the last 10 to 15 years, the clever governments have been buying gold, and the idiots have been selling gold. And those that buy gold don’t just buy paper, they make sure they’ve physically got the stuff.” King World News
Well, assuming there is not another confiscation, then how do you think the best way to store your precious metals would be? If you are leery of ETF's (as I am), then your two remaining options are paying to entrust your Gold in someone else's "Secure Vault", or constructing you own secure vault in your own home. Taking in to account the issues I brought up previously with those options, what do you think would be the wisest way to proceed?
Well, assuming there is not another confiscation, then how do you think the best way to store your precious metals would be? If you are leery of ETF's (as I am), then your two remaining options are paying to entrust your Gold in someone else's "Secure Vault", or constructing you own secure vault in your own home. Taking in to account the issues I brought up previously with those options, what do you think would be the wisest way to proceed?
ok, assuming you want to own the physical, I "recommend" some combination
of platinum, palladium, gold, and silver. Platinum and palladium do not need an
inflationary environment to move. Shortages can be very severe with them,
there is so little mined of platinum, mining controversies in South Africa impact
it. Most of the palladium is held by the Russians. The former Soviet Union mined
the most ever, decades ago, and they allow as much as they choose to enter
the marketplace. Because they are both linked to the automotive industry,
you don't need the same situations to move them higher, either. Historically
platinum is worth more than gold, we're in one of those rare situations when
gold is outpricing platinum, because economies are struggling, and because of
the much-touted ingrained push for gold supply, gradually growing among the
population. This pertains to your storage options, because the only one of
the four which can take up space is silver.
Let me also inform you that you will be better off owning coins minted by governments,
it doesn't really matter which government, they are all superior to the bullion bars, because
bullion bars are marked, numbered, trackable. Many more potential buyers would prefer
the coin, which is not individually registered. Also, most Americans prefer American coins,
but also feel safe with Canadian. Right now the most easily transferred I think is the
gold buffalo. In silver, I really like the 5oz America the Beautiful series, they only started it
2 years ago and it is scheduled to run up to 2022 I believe, one coin for each state and
territory, the only 5oz silver coin ever minted by the US Mint, and they are quite pretty,
I own them and expect that set to appreciate as a collector's item years from now.
In platinum and palladium, you have your choices, mine are basic Canadian Maple Leafs.
That's because I didn't want to pay the higher premium on US, although if you
can find Isle of Man nobles, those are getting hard to find a seller.
Just put them in an airtight box and bury them if you don't want to keep them in your house.
here are some ideas: *How do we bury our Silver and Gold to avoid Metal Detectors?* | Peace . Gold . Liberty
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