My Focus Is On Physical Gold

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(Edited)

There has been talk about Elon Musk, CEO of Tesla, diversifying into physical gold and GLD (or gold holding, ETFs). Did he say that crypto was "almost as bs as fiat currency"?

If you don't hold it, you don't own it

I guess we can sum it up in this phrase: You don't own it if you don't hold it. That is the key here.

Gold

Gold cannot be destroyed.

It can be reconstituted or reformed, in case of fire. It never goes away or disappears.

Gold can’t be destroyed, only dissolved. As it stands, it is not possible to destroy gold on a molecular level with any naturally occurring substance on earth. Pure gold is virtually indestructible. It will not corrode, rust or tarnish, and fire cannot destroy it. This is why all of the gold extracted from the earth is still melted, re-melted and used over and over again.

That is why it has survived over a thousand years. Gold has stood the test of time.

And that is something that cannot be said for any asset out there.

Gold is the ultimate form of money. It is what central bankers store around the world on behalf of nations and which the center bankers designated as tier 1 assets.

Gold is an emotional precious metal. As an asset class, it stirs the passions. Some folks love gold, and others irrationally despise it. Either way, investing and trading decisions tinged with emotion are not to be trusted.

Diversify

Hold gold as a way to diversify your portfolio.

If you want to have something be totally independent of everything else, find something with intrinsic value.

The Bottom Line. From an elemental perspective, gold is the most logical choice for a medium of exchange for goods and services. The metal is abundant enough to create coins but rare enough so that not everyone can produce them. Gold doesn't corrode, providing a sustainable store of value, and humans are physically and emotionally drawn to it. Societies and economies have placed value on gold, thus perpetuating its worth. Gold is the metal we'll fall back on when other forms of currency don't work, which means that gold will always have value in tough as well as good times.

Gold cannot be taxed, it doesn't provide a dividend. Gold just sits there. It's simple, it is discreet, a lot of value in a small space. (Gold is boring, hehehe.)

Focus on physical gold!

We also hear from sour-grapes types and knee-jerk attention seekers that gold is just a fad… that the infatuation will die down any time now.

Physical Gold

I primarily stack gold and silver as savings. I view it essentially as a savings account. I think everybody needs "regular" savings of fiat currency whether it is kept in a bank or whatnot. I do. I think you should always have cash on hand.

Some of us believe that we are headed towards another rise in inflation with the printing and creating of more fiat currency for the stimulus money and several projects of the new administration. And when that happens, it devalues all the currency that is in existence.

That's what classic inflation is. If you have all your money in the bank savings account, you will see your money stay the same, but the cost of everything will go up! That money you have in savings is actually losing its purchasing power.

With stacking gold and silver, I have the advantage of it retaining value which your fiat in the bank won't. My primary reason for stacking gold and silver is as savings.

Some people do not own gold because they truly believe that economically, everything will turn out fine.

Others have trust that the government will catch anything before it gets too bad.

Still others shun gold because to buy it would mean that they would have to prepare for potential contingencies that they would rather not face.

Finally, others know that if they were to buy gold, they may have to admit their original premise was wrong.

One would be foolish not to carry homeowners insurance, as is the same with life insurance. Gold is portfolio and livelihood insurance. And, if you never have to use it for that purpose, you still have about what you paid for it – maybe, a lot more!

😍#ilikeitalot!😍


Sources:

NewsweeK

Mahattan Gold and Silver

Investopedia

Fisher Precious Metals


Best Regards,

@silversaver888

I am not a financial adviser. This article is not meant to be financial advice. My articles on cryptos and precious metals share my personal opinion, experiences, and general information on cryptos and precious metals.
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33 comments
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Sis, silver may be our default Stacking asset but when we hold those gold coins in our hands there is something so alluring about the gorgeous metal that is beyond description. I didn't tell you but one of my ancestors is known to be a Goldsmith who made jewelry as a Trade, this was very long ago. Cool!

Always, with a Golden love 🤗 🌺 💖

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Gold is totally different from silver. I have temporarily stopped buying silver. Maybe next month I will resume, depending on the price. Oh, I think I'll buy some US constitution silver for now, if I will buy silver. Us constitutional Silver and Gold!
Really! That is interesting! COol!

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Did he say that crypto was "almost as bs as fiat currency"?

I think I heard about that on Peter Shiff's podcast, I hope he does get a bunch in gold as he mentioned. I wonder how much silver he has stored away for the future of Tesla. If I were in charge of a big company, I would be sure to secure my supply line by taking over a silver mine.

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I'm sure he has some in store, he didn't become a millionaire not doing anything! His industry is going to catapult the consumption of silver in five years, I bet he is ready for it.

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Can’t wait for the ratio to drop in the 40’s. Then I’ll have some gold. Until then it’s gonna have to wait. I’m not paying the premiums on a 1/10 gold coin. Quarter ounce are better but $500 isn’t as easy to part with......

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I agree that gold is a good store of value. Let's hope the wealth tax that California wants doesn't pass. I don't hear about it much anymore but they did want to tax you on your total wealth (which would probably include gold).

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Hehehe, nobody knows where I stash my gold!
I will never declare it!
Should they trace it, I'll tell them I sold it.
We're paying sales taxes on it already!
Hahaha!

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Savings....Investments....Holding Physical gold is also freeing, the security it gives you knowing that you are protected in case of monetary upheaval! Solid as a rock my friend😍😍😀

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Very wise! We use gold as the savings, and silver too, but silver would be easier to part with should the need arise. Kind of like having a bunch (only many times more) of $100 dollar bills for savings, and then having $20, $10, $5, and $1 dollar bills plus coinage to spend as needed for day to day necessities.🤗❤️

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Hahaha, sis! Like I'm accumulating real money on one hand, and fiat on the other
Fiat is like play money... which for now for food and to pay down this house... and then I save real money in US COnstitutional Coins Silver Eagles and Gold.
Life is so simple!!!

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a few years ago I too thought about buying gold, but the Italian bureaucratic process stopped me from doing so.

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G-G-G-GOLD!! Crazy premiums now, so I'm stackin sats at the moment. Cheers saver! It's going to get interesting soon.

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