Today gold reached a price of $50000 per Kilogram
A little bar of 1 kg. It fits in the hand and pocket. It is smaller than a smartphone.
You can go with 3 quarters of the countries on the planet and live for 5 years with that.
If you held cash you would need a much larger volume.
What other form of money is a better physical one?
Even a multi millionaire can fit his entire wealth in a safe.
What other form of money can we rely on when the lights go out?
We could even have our pockets full of small bars or coins of 1g of gold, worth $50 each.
The only problem is very small amounts. But hey, for that we have silver!
1 kg of silver is ~$550, and 1 gram = $0.55.
Isn't that great?!
If really even MOAR small amounts are needed well then you have other metals, perhaps copper. 1g = half a cent, but come on XD. Bronze is even lower.
I can imagine the poor wellfare wagecuck losers carrying big bags of copper around and the chads having their little gold coins with them and a few silver ones because they're cheap, but they do not care about the 0.55 insignificant rounding error.
Anyone that stocks up on gold and silver should be fine almost no matter what happens.
Hyperinflation by central bank? Got that covered.
Big decade long super depression? Got that covered.
Collapse of western civilisation? Got that covered.
The price could go down, but what are the odds it just gets cut in half?
Of course it is not wise to go all in metals imo. But having some spare cash shall things go wrong can't hurt.
Gold reached that price and naysayers are still finding stupid arguments, such as:
Uh well there is plenty of gold in the sea, I'd like every one to know how stupid I am.
What is easier to mine:
- Gold in the ground and in rivers just sitting there, anyone can grab very easilly?
- Gold at the bottom of the oceans where there is no oxygen, plenty of sharks, high pressure?
The ground on land, not in the sea, and rivers, have been up for grabs for millenia, and did gold just go to zero and disappear?
This "there is gold in the sea" has to be one of the stupidest comment I have ever heard.
We have explored less than 1/10th of 1% of the bottom of the sea to this day and people are actually thinking we're going to yolo extract all the gold from down there.
Or from asteroids xd How funny.
Just picture a little 1g gold coin. Isn't that beautiful?
There has been no inflation and market manipulation, and gold kjept its value stable before 1913 for hundreds of years, and this did not prevent the industrial revolution, the conquest of the world by europe (and japan joined the party late).
I, and other people, have already explained why gold is probably going to go up.
But here are additional reasons, and refuting the "gold isn't a limited supply" 'argument'.
For the long term I would just dollar cost average, maybe have bigger orders for when the price enters in demand areas (the rectangle on the chart).
For short term speculating, I would buy in that area 1400-1430, and try riding it to 1500, trail my stop stay in as long as possible, but I expect the trade if it is a winner to last at least 1 week, bare minimum. Will report with stop loss if the price gets there and forms a bottoming pattern.
I do not think now is a good time to buy, could be, but we are at resistance and it is time for a pullback.
Perhaps the stock market (and crypto, you kinda cna put them in the same bag), goes up in the short term until the first 10 days of september, and then the super depression begins, just like 1929.
You can go with 3 quarters of the countries on the planet and live for 5 years with that.
If you held cash you would need a much larger volume.
What other form of money is a better physical one?
Even a multi millionaire can fit his entire wealth in a safe.
What other form of money can we rely on when the lights go out?
We could even have our pockets full of small bars or coins of 1g of gold, worth $50 each.
The only problem is very small amounts. But hey, for that we have silver!
1 kg of silver is ~$550, and 1 gram = $0.55.
Isn't that great?!
If really even MOAR small amounts are needed well then you have other metals, perhaps copper. 1g = half a cent, but come on XD. Bronze is even lower.
I can imagine the poor wellfare wagecuck losers carrying big bags of copper around and the chads having their little gold coins with them and a few silver ones because they're cheap, but they do not care about the 0.55 insignificant rounding error.
Anyone that stocks up on gold and silver should be fine almost no matter what happens.
Hyperinflation by central bank? Got that covered.
Big decade long super depression? Got that covered.
Collapse of western civilisation? Got that covered.
The price could go down, but what are the odds it just gets cut in half?
Of course it is not wise to go all in metals imo. But having some spare cash shall things go wrong can't hurt.
Gold reached that price and naysayers are still finding stupid arguments, such as:
Uh well there is plenty of gold in the sea, I'd like every one to know how stupid I am.
What is easier to mine:
- Gold in the ground and in rivers just sitting there, anyone can grab very easilly?
- Gold at the bottom of the oceans where there is no oxygen, plenty of sharks, high pressure?
The ground on land, not in the sea, and rivers, have been up for grabs for millenia, and did gold just go to zero and disappear?
This "there is gold in the sea" has to be one of the stupidest comment I have ever heard.
We have explored less than 1/10th of 1% of the bottom of the sea to this day and people are actually thinking we're going to yolo extract all the gold from down there.
Or from asteroids xd How funny.
Just picture a little 1g gold coin. Isn't that beautiful?
There has been no inflation and market manipulation, and gold kjept its value stable before 1913 for hundreds of years, and this did not prevent the industrial revolution, the conquest of the world by europe (and japan joined the party late).
I, and other people, have already explained why gold is probably going to go up.
But here are additional reasons, and refuting the "gold isn't a limited supply" 'argument'.
For the long term I would just dollar cost average, maybe have bigger orders for when the price enters in demand areas (the rectangle on the chart).
For short term speculating, I would buy in that area 1400-1430, and try riding it to 1500, trail my stop stay in as long as possible, but I expect the trade if it is a winner to last at least 1 week, bare minimum. Will report with stop loss if the price gets there and forms a bottoming pattern.
I do not think now is a good time to buy, could be, but we are at resistance and it is time for a pullback.
Perhaps the stock market (and crypto, you kinda cna put them in the same bag), goes up in the short term until the first 10 days of september, and then the super depression begins, just like 1929.