- Joined
- Sep 5, 2016
Hmmm.
I'm not jumping on the conspiracy wagon. I think metals are a good investment - because we may be entering a 'Bear Cycle'. The markets will soon swell with investors dumping stock and rushing to safe investments.
However, I personally dislike Silver. Why? There are literal mountains of silver in Mexico. As soon as the price reaches a breaking point, armies of Mexican miners will send it to the bottom. Just my opinion, though.
I like Gold.
I saw a video @1 year ago stating that there are 3x-10x the amount of gold contracts in the market now, than the available amount of gold worldwide.
That essentially means gold is shorted by an ENORMOUS amount. An amount that make $GME look reasonable. There are other reasons as well. Gold is fucked with as much/more than the 'synthetic mortgage derivatives' that destroyed the economy more than 12 years ago (and we never recovered).
I'm not a broker or finance person. I will buy: Mutuals I like, raw stocks I value, some (VERY LITTLE) cash and bonds, Gold, and Bitcoin.
My Opinion.
Slight disagree.
I have been about 50/50 with gold/silver. I was buying 2/1 gold with the recent ratio, but now that silver looks like it's gonna get funky, I bought some SLV with money laying around in Robinhood and a fair bit of physical today.
At what I paid, if it goes to some stupid amount and crashes and stabilizes at 50 or 30, I will still make out. If it drops below 27 again, I have confidence as a long term stacker I will be in the black even if it's 10 years from now. If it goes to a stupid high like 1000, I might consider selling anyway as that would be a bubble, but I would wonder if I would find a ready buyer.
That said most major dealers have froze selling. www.goldeneagle.com is still selling as I post this, and their cull 90% is still barely over spot https://www.goldeneaglecoin.com/buy-silver/90-silver-us-coins/other-90-silver-coins. Washington Quarters are not bad either. If you want to get in, get in now before the markets open this evening.