The wealthy are dumping money.

MilesTeg

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Doc8404 said:
I’m riding it out. At 46 and 11-14 years away from retirement, I hope to have time.
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At 37 I definitely have to ride it out. The good new is the gains this past year was amazing! So when we do have a correction I should have some decent buying power.
 
BerettaGuy

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holdover said:
One thing for sure is that the dollar is going to drop in value. Without a doubt the value of your money this year will be less than next year. the Fed already said it is going to allow 2% inflation this year, which means 4-5 % minimum ,and I anticipate it being even worse the year after due to the colossal printing of money, which is basically counterfeit. So Without question, the price of precious metals along with guns ammo food are going to rise this year. With civil unrest and riots and inflation, and demand , the price of guns and ammo should rise sharply.
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The Central Banks only hope is for us to inflate our way out of the debt. Remember 11 percent mortgages and 19 percent credit cards you could almost get a better deal with the mob. It is always the banks and bankers. After all the mobsters learned their craft from them.
 
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holdover

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The gig is up, its a done deal. The dollar is declining and will continue to decline until it breaks and a new currency is issued . You can read it in the history books over and over again. It may take a while or it may happen suddenly. Nothing new under the sun. All paper currencies have failed over time. Mainly because of greedy assholes who want to fuck people out of their cash.
 
Drinkthekoolaid

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I know I'm risking losing out but, I just set stop loss orders for my stock positions (not 401k) in the event the market begins to tank I will try to have my cash pulled out and hopefully have more buying power to get back in.

I know it's a risk if it's just a temporary dip I may lose shares in the process, but at least I will feel better that in protecting my money and gains.
 
Doc8404

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Drinkthekoolaid said:
I know I'm risking losing out but, I just set stop loss orders for my stock positions (not 401k) in the event the market begins to tank I will try to have my cash pulled out and hopefully have more buying power to get back in.

I know it's a risk if it's just a temporary dip I may lose shares in the process, but at least I will feel better that in protecting my money and gains.
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hmmmmmm. I may need to look at this for my IRA and few stocks.
 
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holdover

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Becare full of confidence in a stop loss. Not normally, but in a market crash , everyone is selling, and no one is buying. Theres two sides to a trade. And if no one is on the other side of the trade , your fucked. Your trapped in your position and cant get out, no buyers.

 
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When the wealthy start burning cash in their wood stove to keep warm I'll worry.

I do remember just before the 2007-8 crash a lady on one of the finance channels yelling " If that happens we'll be breaking up the furniture to burn to keep warm this winter."
 
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holdover said:
Gold Silver. Gold and silver have always held their value against a falling currency. So if you had 10K in cash and 10K in gold when the dollar loses say 10% of its value due to inflation. Your now now holding 9k in cash, but still retain your 10K in gold .Precious metals retain their value against a falling currency.Again , if your holding 50K in dollars and the dollar loses 3-4 percent per year over a few years, your 50K value is being stolen through inflation, its now worth around 40K .

the price of gold in 2000 was $272 today its 1800. 2005 the price of gold was $513.00 in 2010 the price was $1400.

Its not so much that gold has increased in value but that the dollar has lost value . Long term saving in gold will maintain its value where as long term saving in dollars will lose value.

You can definitely make money in Precious metals during the spikes and drops of price change , I expect a price spike in silver to hit 38-40 this year where Im going to sell off some metals if it does because I expect the price to settle back down to the high 20's or low 30S and keep the change. If it doesn't drop , I still made a good profit on my buy at 15 an oz and might buy another metal to retain value .

the thing with gold and silver is that they dont spike and drop often enough for investment only , unless your playing the game with millions .

one of the reasons they hold thier value is because there is a limited amount and always a demand . Ask your self why the central banks around the world hold gold and silver? Because it retains value.
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Two of the arguments Texas Legislature addressed for Texas Independence were ; Texas has it's own power grid; it has it's own gold repository.
 
SigSweet

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tirwin1 said:
Maybe because of situations like this:

www.google.com

Entrepreneur - Start, run and grow your business.

Advice, insight, profiles and guides for established and aspiring entrepreneurs worldwide. Home of Entrepreneur magazine.
www.google.com www.google.com
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That can easily be avoided, im surprised the people that understand how the media works dont realize the click bait there

I have had 2 computers fail that had bitcoin wallets on them, but i wrote down the 24 word seed and was able to recover it.

I would rather trust myself then rely on the banks or government to allow me to have my hard earned money when i need it

But hey maybe my grocery bill wont go up 10% yoy and uncle sam will allow me to buy whatever i want. We see how this has gone
 
Drinkthekoolaid

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Bitcoin scared me because it's so volitale

I'm starting to dabble in cryoto I put $200 in bitcoin on robinhood to start following it. It's had some crazy fluctuations the past month.

I'm still not ready to commit to a crypto wallet yet. I'm trying to learn more. It's pretty different to me.


I do think it's a very valuable hedge against the USD but I need to understand it better
 
SigSweet

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Thats good but following the price isnt learning much to be honest, esp because you arent getting the actual benefits of owning bitcoin and some of the negatives.

Robinhood doesnt allow you to withdraw or own your Bitcoin, so you cant spend it, or use it if you ever needed.

I recommend people look into PGP, download a wallet, save your seed pharse, and send some transactions back and forth to yourself to see how things work.

It really is better money, i have basically been using Bitcoin as my checking and savings for the last 4 years with no issue.
 
SigSweet

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SomeSoldier said:
If people are starting to look at crypto currency I would suggest a physical wallet. Can't be hacked if its not connected.
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Agree to a certain extent, people shouldnt fear hot wallets for a small amount, you should keep your stuff secure as your data is just as valuable to some people

Check out the coldcard by coinkite if you want a physical device, you can also use a 2/3 multi-sig for added security
 
spat

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SigSweet said:
Agree to a certain extent, people shouldnt fear hot wallets for a small amount, you should keep your stuff secure as your data is just as valuable to some people

Check out the coldcard by coinkite if you want a physical device, you can also use a 2/3 multi-sig for added security
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I am far more worried about losing them than having them stolen.

Bitcoin can be a lot safer than cash though.

Unlike cash, you can store an offsite backup for a bitcoin wallet.

Also unlike cash you can password protect them too.
 
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holdover

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spat said:
I am far more worried about losing them than having them stolen.

Bitcoin can be a lot safer than cash though.

Unlike cash, you can store an offsite backup for a bitcoin wallet.

Also unlike cash you can password protect them too.
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Im still researching cryptos and Im going to buy some , But I still dont have high confidence in them ,
 
Vapor

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Skills are really important. Currency is nice, but you can always obtain currency.


Can you build a shed? Can you fix a toilet? Can you change an alternator? Can you hunt game? Can you save lives with first aid? Can you fish?

Can you plow a field? Can food?

Sew your own clothes?

My mother can preserve food and make clothes with a machine or by hand. I've only dated one woman ever that could do either, and she's actually the youngest girlfriend I've ever had. These things are being lost.

All these things we take for granted normally done by others for a hefty price, or in sweat shops might suddenly become important.
 
SigSweet

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togmaster said:
Since the conversion has drifted to crypto. Where is the best place for a noob to educate himself on bitcoin?
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You can read the white paper here:

A good short read is the bitcoin standard you can find on amazon as well

If you want to dabble with a wallet and see how things work like sending transactions I can send you some Bitcoin for you to test things out.
 
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