Sold of My Entire Bullion Collection In Order To Purchase BitCoins

I understand it well enough. It's just another fiat currency. It's worth what other people will pay with no intrinsic value at all. But the Dollar has been in that position for 90 years.

And when you really get right down to it, Precious metals really fall into the same category, but with much longer track records.

 

Log in or Sign up to hide this ad.

I believe the USA will be insolvent by 2030 if not before.

 

Bill Gates? I'm surprised you didn't mention his vaccine microchip conspiracy. You write some serious delusional Illuminati ramblings.

 

I'm concerned about a DRASTIC population plunge over the next three to ten years. Whether that is part of the 1/3rd population reduction at the beginning of Revelations or merely an unnatural plague preceding it is a matter of conjecture.

But we'll see. Doom and Gloom are as much a part of life as death and taxes.

 

This is where I once again remind everybody that "playing with house money" is often used as a fallacy to justify hanging on to a speculative investment.

Yeah, you've sold enough to cover your initial cost, and what you're left with is profit. Except really, or at least as far as the IRS is concerned, profit is apportioned, so you can't just pretend you're selling 1/2 of your stake for your total initial cost with no profit involved.

More importantly, you're still speculating with what you hold, because you're continually making the decision to keep the money in that investment, rather than moving it into something else. If you care about your wealth, you need to manage that "house money" the same way you manage the rest of your money -- because money is money; it's fungible.

 

Well, on the bright side, we'll only have to wait three to ten years to find out if you're right. And if you are, lots of us won't even have to wait that long.

 

Maybe, maybe not. I honestly don't trust anyone anymore. You seem confident, but just think of the source of your confidence.Is it really reliable?

 

What you say is true to a point. But the risk of the total loss of the investment is mitigated by taking profits at opportune times.

A collapse often happens before an average investor has a chance to liquidate their holdings and winds up taking a greater loss than the brokerage firms.

But timing is everything and not trying to squeeze every last dollar out of a market usually works better than going for perfect timing.

I was taught about dollar cost averaging many years ago, but my work timing sucked. I always wound up preparing for the job that went from high demand to no demand six months before the completions of my prep.

 

Tax strategy when taking profits is the subject of a whole other category. If your in a low income years, you might take more profit by selling the low cost shares and visa versa in a high profit year. There are too many variables for a rule of thumb there.

 

very well said

 

It's still a loss or a gain, its just not locked in yet

 

I do all the same stuff... Make the fiat, roll it over to metals which go in vault. I bought my first bitcoin in 2013, bought ether in 2017... was laughed at here...
Take profit, turn into metal which eventually will find it's way back to the top.

I still wonder what is the value of a 2008 50$ W buffalo burnished if in 2030 the US Dollar is kaput... Back too Bullion ? Maybe ? A scarce failed fiat gold coin is just that, failed !

What drives me nutz in the daily, early morning manipulation via the bullion banks, we keep hearing Basel 3, or other things will change gold value. I don't think so, I think we are years away because... the BIS, COMEX, FED, politicians both right and LEFT, FBI, CIA, Bullion Banks, SEC, Wallstreet, Investntment Banks, CTFC, IMF, Euro banks, and even MILF all want the dollar to stay king. They will do whatever it takes. Even having the FED change mandates and start buying stocks directly under the guise of "DOING WHAT IS BEST FOR NATIONAL SECURITY" the lies continue.

No matter what, they wont let either metal price PRICE DISCOVER. They just keep driving it down. Why should China or Russia, India for the fact complain, this allows them to keep stacking. Mike Maloney has been complaining for years, so have 30 other Youtubers telling the truth, it matters not because 99% of Americans are gullible. Gold and silver get smashed down daily

 

Gold and Silver will retain value until the full vault won't buy you a full pantry.

 

Yea, sure, all of 5000 years erased in 2026 ? or will it be in the 2030s ?
I guess once fiat is over with everyone will use crypto's... right up until the politicians ban it all except the FED COIN

 

Ok... your right, Silver and Gold only have fiat value... Its not like they are used for anything of real value. They should probably start using Defi to make the phone chips, connection points, computers, car electronics, and other tangibles. After all we can get Compound, or Aave cheaper than silver and gold. Plus you dont have to go thru the nasty mining process.

 

". . . CTFC, IMF, Euro banks, and even MILF all want the dollar to stay king." China and Russia will do everything they can to undermine the dollar, the de facto global currency. Asian countries do a lot of international trade using a basket of Asian currencies.

 

MILF ?

Your right, and as much as they try to undermine the US, they also know destroying the dollar will cost them heavily. At least until they are ready, and they are NOT yet. There has to be a reserve currency of some type of it is a mess. There will be a transfer, but it takes a couple years. The time in-between is messy.

it is kind of a catch 22 for china, until the belt road is ready, and their economy as a whole can sustain itself without the USA buying goods, they need us.

From what I read, they have twice the gold we do. What is reported is much less, there are good articles that go thru their buying going back to 2000.... They are locked and loaded, but still need more time. Then they will pull the trigger. Until then, they let the bullion banks run their paper short contracts holding down the price considerably.

 

I am actually glad china is dissing us, and the orient is trading in their own. We have destroyed our own economy to help the billionaires gain mass wealth.

Very few Americans will do good going forward. People see RIGHT NOW an economy with people attending baseball games, going out to dinner, and soon the big 4th of July party. Never taking into account just how horrendous the economy really is...
They love to quote Nasdaq, or dow numbers, use CPI which is a lie. Or state the GDP is up again, oh look, it is 4% (were kicking ass)...
A 4% GDP is garbage when all 4% is from federal spending which they now include in GDP. In fact, we borrow enough money each year for the past 5 years to equal 10% GDP, yet we avg. only 3%. It is all propaganda.

Another problem is so many are preaching from a pulpit of the past. Guys over 65 that love to see things as OLD America.... or the fact they draw a great retirement, good SS, and their 3 sons and 6 nephews have all done well. All white collar, all live good lives. That is the case with most of my family, but we are the few that made it thru...
On my moms side it is a different story, white trailer people, women that clean houses and guys that once worked at GM, Ford, or some other factory now barely get by on 17/hr. it is crushing them, this makes up the majority of the country and those that tend to do better than others IGNORE these people and their lives. As if, these were just bad choices they made, that they make this amount of money based on poor choices.

Sometimes this is true, yet my guess is that 70% of the time it isnt. They are just people that chose to NOT attend college because they had a good job waiting in the 80s, 90s, and even early 2000. Those jobs are gone for another 50 years and these people will be pushed into poverty. there is no way out and no printing, free money will help. It only delays the inevitable.

 

As I said, precious metals will have value until famine inrtudes on the system. None of the toys has much relevance id food is scarce.

Food, Water and Shelter are not good monetary units because they don't store well. But under the right circumstances, the food is necessary while the precious metals are not.

 

China wants the renminbi to be the global currency.