Sold of My Entire Bullion Collection In Order To Purchase BitCoins

Amen -- but so many of the folks who believe "PM is the only real money" also believe that "the system" of equities is set up to steal money from them in particular, and that if they don't have it in their physical possession, it doesn't exist. And, of course, the people who benefit from those premiums are happy to let them go on believing that.

 

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Hmm. I think I'll agree to disagree here. PMs do IN GENERAL keep up with inflation, in the sense that inflation is defined as a decrease in the value of a currency measured against everything else in aggregate. If you're saying that PMs don't keep up with inflation, you're saying that they eventually lose value against all the other things on which we spend money. In general, I don't think that's true, although they can stay high or low longer than any one person's time horizon.

Apple stock (or just about any other equity) is an investment, where people expect it to produce returns above and beyond inflation. Of course, it can also be a vehicle for speculation, and I suspect its value right now is still somewhat inflated by speculators (even though it's down something like 30% from its all-time high). All the same, I'm not selling it; I think there will be more speculators coming along way ahead of my investment horizon.

 

Funny how the sellers pushing that it will only go higher are more than happy to sell it for dollars

 

They keep up at times. There's plenty of times they dont though and plenty of times where its just dead money. Overall yes they generally do from the spikes but you would have been better off putting your money elsewhere. There's people still underwater from their 2012 or even their 1980ish purchases. From like 1980 to 2001 gold was in a steady decline with 2 or 3 random spikes. That's not a store of wealth when you can not only be losing money to inflation but actual dollar numbers as well for two decades and thats not even accounting for the fact the dollar was worth more in 1980.

If you look at the 100 year charts gold is declining in value the majority of years with a couple big spikes then a decline. Silver pretty much the same thing with more time being stagnate. PMs are really nothing more than a different investment vehicle that have big buy sell margins on physical and offer no return until sold

 

Of course, as long as they can keep using that worthless fiat TP to buy more PM than they sold for it, they've got... a business model!

But I'll bet they keep their balance sheets, and take their salaries, in fiat.

 

"If someone really wants to get into metals they should at least use the stock versions to avoid the massive buy sell premiums that come with physical"

OK, maybe I'm an outlier, but I've managed to purchase $25-30K of silver over the last 3-4 years and put it all in my pocket at whatever spot was at that time. Not only that, since 75% or so is in coinage, I haven't even begun to think of the numismatic value possibilities (think complete books of Franklins at $6 per coin). That part of the sifting and sorting will be my retirement hobby.

 

As previously mentioned it only becomes
a +/- when you cash it out, so as a long
term investor there will always be bumps in
the road you just have to deal with it

 

I keep telling myself that about my stocks...

 

Even if you took Uncle Sam out of it, the sellers would still be taking paychecks and payment in dollars. They wouldnt be selling the PM in the first place if they believed it would only go up or at the very least just selling the minimum to pay the bills not pushing to sell as much as possible

 

If I knew silver would be 20% higher a year from now, but I also knew that I could make 10% on the spread buying and selling, and I knew I could flip at least three times in that year -- the only sensible thing to do would be to sell as much as I can, buying back to replace it as I do.

If I had no idea where silver would be in a year, I'd still know that selling at spot + 10% and buying at spot would make me money.

So, yeah, it's funny to see people trumpeting that fiat is worthless, but accepting it in payment for PMs. But it does make business sense, even if they're right.

 

Agreed up until the even if theyre right point from those claiming fiat is worthless. If someone pitching that fiat is worthless actually believed it they would never accept it for anything. I would never take something I truly thought was worthless as payment for anything which shows how disingenuous those people are. It's certainly a different talk when it comes to people who think it could possibly go up, but again there's a reason the big boys hedge their purchases and try and unload as soon as possible. It's a risky market that can work out long term, but there's also a very high risk of losing money as well and historically you would be down money more often than not. You have to be willing to sell on a spike which most arent

 

I will go ahead and pat myself on the back if
you don’t mind and give myself an ata boy..LOL

 

I would view people saying fiat will be worthless and accepting it for purchases to not be mutually exclusive. They could mean fiat is worthless long term as a store of value, (true really) while accepting fiat today as a medium of exchange, (to be used quickly to buy other things).

Two completely separate uses. Fiat is the lowest cost medium of exchange today, so of course any exchange should use it.

 

moving goal posts to fit narrative. works also

 

Not the first time. And I'm guessing it won't be the last time.

 

Bail from bit coin ? no sir ! I am still heavily
involved daily with my trading and that will
continue up or down

 

The government of El Salvador dumped a little more than a hundred million dollars into Bitcoin and it's not worth half of what they invested. Do you think maybe the citizens are a little bit unhappy?

 

What goes up goes down ! look at the stock
market OMG !! the money I have lost
on the other hand making money on BTC
even in a down market.