Gold is insurance. It protects your wealth. Don’t look at it necessarily as an investment. It generates no cash flow and has storage costs. Keep what you have and add to it if you can afford it. It’s peace of mind, which I fear will be needed soon.
Don't trust other people to store your metals. A quality safe can be had for less than the cost of an ounce of gold. Heavy enough that it cannot be moved easily and impervious to all but the most experienced thief with the right tools. The odds that someone like that is going to break into your home are virtually zero, unless, of course, you advertise. Save the storage costs and take control of your own resources. And remember, loose lips do more than sink ships.
Read up. The federal government is not above raiding private vaults and getting into private boxes and stealing their contents. They simply claim something criminal is going on and they have carte blanche.
Not talking about safety deposit boxes but private storage outside the banking system. For example bullion star in Singapore etc. Never use a safety deposit box ever !
How do you think those private vaults store your metals? The article I sent you was a private vault outside the banking system and the Feds still raided it and stole the gold. How are you going to have immediate access to something in Singapore in the event of an emergency?
Only potential problem here is that if your where with all is neatly stashed within a vault in another country to where you live ( even in the same country ) - then you've both got the Owner- Managers of the vaulting company and more especially the armed guard's stood outside the vault door between you and what's your's . Chances is that one or both of them could easilly have exited stage l;eft at pace when the SHTF , along with your stash - some time before you turn up to claim tour assets ...??
That is true. But if it is massively undervalued due to price suppression then the reversion to its real value will generate massive profits at which point you can rotate into other income generating assets. Right now I simply cannot find anything that is not massively overvalued and due for a correction. Then those with Gold will have huge opportunities
Turkey sold 58 tons of Gold - it's selling reserves to try and stablize its currency. As USD revenues for other countries dry up, they will also come under pressure to sell reserves. Some of those reserves will be Gold.
Dollar strength will eventually break the Dollar system, but nobody knows when.
Of course Gold is insurance and physical can't be effectively transacted in anyway. But we live in a FIAT world and we will live in a FIAT world as it dies and transitions into something else. In that case, to say that Gold doesnt matter as an "investment" is to say, to a large extent, gold doesnt matter. I'm not going to put all my FIAT into physical Gold because I need to eat, pay for gas and run the furnace, all paid for in FIAT. So Gold as investment matters.
The best guess I've heard of where the bottom is, is 3500. We had a little bounce yesterday which has turned into a an even stronger decline today...so 3500 is still looking like a good line.
Thats 800 USD down from here, another 13% or so. Ride it down if you want, noting is certain. The past says (at least in our life times), gold bottoms are always pivots to new gold tops...the only thing we need to question is: banks have turned to Gold as a reserve and banks may have second thoughts now about an "asset" that can lose 25% of its value in 2 weeks.
All this nonsense about the gold being in inverse correlation to the currency. The currency didnt move + 20% did it? And the recent 20% correction. Record stretched from its 200 day MA and has now settled. So who has been selling? Maybe Gulf states needing some cash? We wont know. The towel-heads are all shook up. China has $600bn of treasuries to dump. Rumour has it BRICS is dead. India fucked that up. Indians are utter cunts.
"The foolish and wicked practice of profane cursing and swearing...is a vice so mean and low, without any temptation, that every man of sense and character detests and despises it." ~ George Washington
Gold is insurance. It protects your wealth. Don’t look at it necessarily as an investment. It generates no cash flow and has storage costs. Keep what you have and add to it if you can afford it. It’s peace of mind, which I fear will be needed soon.
Don't trust other people to store your metals. A quality safe can be had for less than the cost of an ounce of gold. Heavy enough that it cannot be moved easily and impervious to all but the most experienced thief with the right tools. The odds that someone like that is going to break into your home are virtually zero, unless, of course, you advertise. Save the storage costs and take control of your own resources. And remember, loose lips do more than sink ships.
Store in more than one location. Private vaults with good security and insurance in a safe jurisdiction as Egon says
Read up. The federal government is not above raiding private vaults and getting into private boxes and stealing their contents. They simply claim something criminal is going on and they have carte blanche.
https://reason.com/2023/12/06/the-fbi-seized-their-safe-deposit-boxes-now-a-federal-court-will-hear-the-case/
Exactly So
Not talking about safety deposit boxes but private storage outside the banking system. For example bullion star in Singapore etc. Never use a safety deposit box ever !
How do you think those private vaults store your metals? The article I sent you was a private vault outside the banking system and the Feds still raided it and stole the gold. How are you going to have immediate access to something in Singapore in the event of an emergency?
Only potential problem here is that if your where with all is neatly stashed within a vault in another country to where you live ( even in the same country ) - then you've both got the Owner- Managers of the vaulting company and more especially the armed guard's stood outside the vault door between you and what's your's . Chances is that one or both of them could easilly have exited stage l;eft at pace when the SHTF , along with your stash - some time before you turn up to claim tour assets ...??
That is true. But if it is massively undervalued due to price suppression then the reversion to its real value will generate massive profits at which point you can rotate into other income generating assets. Right now I simply cannot find anything that is not massively overvalued and due for a correction. Then those with Gold will have huge opportunities
Spot On ( as usual )
Turkey sold 58 tons of Gold - it's selling reserves to try and stablize its currency. As USD revenues for other countries dry up, they will also come under pressure to sell reserves. Some of those reserves will be Gold.
Dollar strength will eventually break the Dollar system, but nobody knows when.
Of course Gold is insurance and physical can't be effectively transacted in anyway. But we live in a FIAT world and we will live in a FIAT world as it dies and transitions into something else. In that case, to say that Gold doesnt matter as an "investment" is to say, to a large extent, gold doesnt matter. I'm not going to put all my FIAT into physical Gold because I need to eat, pay for gas and run the furnace, all paid for in FIAT. So Gold as investment matters.
The best guess I've heard of where the bottom is, is 3500. We had a little bounce yesterday which has turned into a an even stronger decline today...so 3500 is still looking like a good line.
Thats 800 USD down from here, another 13% or so. Ride it down if you want, noting is certain. The past says (at least in our life times), gold bottoms are always pivots to new gold tops...the only thing we need to question is: banks have turned to Gold as a reserve and banks may have second thoughts now about an "asset" that can lose 25% of its value in 2 weeks.
Great interview, Alasdair!
It seems you called the TACO!
Was it you who bet $1.5B on the market going up five minutes before Trump made his announcement Monday morning?
All this nonsense about the gold being in inverse correlation to the currency. The currency didnt move + 20% did it? And the recent 20% correction. Record stretched from its 200 day MA and has now settled. So who has been selling? Maybe Gulf states needing some cash? We wont know. The towel-heads are all shook up. China has $600bn of treasuries to dump. Rumour has it BRICS is dead. India fucked that up. Indians are utter cunts.
Have a bit of respect on this site. There are Ladies on here that do read comments. Kindly limit the language please
"The foolish and wicked practice of profane cursing and swearing...is a vice so mean and low, without any temptation, that every man of sense and character detests and despises it." ~ George Washington
Fuck off.
There wasn't any call for that, was there🤷♂️
You loose all credibility by cursing and acting out emotionally, instead of thoughtfully.
Who the hell do you think you are? Get lost.