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RE: Everybody Should Abandon the US Dollar, says Peter Schiff … (Death of the Dollar–1) with Link to Full Story
Well, time to buy as much gold as possible. (Says the one who can't buy few grams of Gold.)
why gold? isn't gold still overpriced in your opinion?
Because its price don't decrease with Fiat. I'd say Bitcoin but its price is unstable so I chose the other best thing.
Have to consider that there will be a run on gold when digital asset trading becomes a public certainty. While we won't need it, gold should become a status or ranking system of "old" money.
That's true. Over the past few years, or even few decades, many astute observers have predicted that there will be a run on gold.
Most likely, that will also cause a run on cryptocurrencies. As people abandon fiat currency, both precious metals and cryptos will be the safe havens.
Will be interesting to see how the first couple-of-year runs view cryptos. I doubt it will be as the programmable money and digital asset representation that devs intend. Also, I still have yet to find a satisfactory gold run explanation. I believe it will happen, but yet to envision how with any detail. Maybe because the most wealthy already own the significant portion.
As fiat currencies collapse, it's pretty much inevitable that precious metals will rise to take their place. And cryptos will tag along, or maybe even move ahead alongside gold and silver.
I was thinking along these4 lines in viewing the latest Star Wars and its money.
Right. Now's the perfect time to buy. I kinda wish I had a steady stream of income now, but I guess I'll hafta rely on my meager profits from Steeemit.
If you cannot buy gold, maybe you can afford a bit of silver. It's much cheaper, and many analysts and observers believe that silver will outperform gold over the coming few years.
@cypro.piotr ... Gold is severely underpriced. That fact is due primarily to the price suppression techniques carried on by the bullion banks.
They sell "paper claims" to gold. Not only do they take large fees from the sales, the constant "selling" keeps the price low, as there may not always be sufficient buyers of the paper gold.
Currently, most conservative estimates put the ratio of Paper Gold – Physical Gold at a staggering 200 : 1. And that's a conservative estimate. For Paper Silver – Physical Silver, the ratio is said to be higher.
That means that, for any single ounce of gold that the banks will have to provide when the owners of the "paper claims," there are over 200 owners. So, the very first owner who shows up at the banks requesting his Physical Gold could get his ounce, but the following 199 "owners" who show up with their paper claims will be told, "Sorry, we don't have any more gold. Now, fuck off!"
So, beyond a doubt, gold is underpriced. Severely underpriced.