Are you saying dont invest in the stock market? Honest question.
Second, I thought you did support buying gold. Maybe you just mean dont buy gold exclusively?
I was going to ask you where and how specifically to buy physical gold and in what sizThesee, etc.
These are all good questions, and I'll give you honest answers.
I do NOT invest in the stock market, other than I gave my son money to purchase 750 shares each of a junior mining stock for himself, my wife and my 2 youngest grandsons. Bought it a few months ago at about .35?, and it trades at .47 now. No big deal.
Contrary to what some on here may believe, I know a lot about the stock market, bonds, mutual funds, etc. When I was young, I was a District Manager for one of the Fortune 500 Insurance companies. I had a Series 6 license to sell securities, mutual funds, interest sensitive insurance contracts, etc. I'm a firm believer in Term Insurance to protect those my wife and I love. My adult children are copies of that belief also. But, as far as the stock market, I know a person, maybe even me, could make a lot of money playing it, but I'm more about security than a huge stock market downturn every few years.
I absolutely believe in buying gold. Its the only true money, with no counterparty risk and it can never bankrupt. You can go anywhere in the world and its recognized as money. Way back in the 80's I began buying gold, 1 ounce American Eagle coins from a pretty fair sized bonus I earned. I've purchased gold multiple times a year since. In the last 10 years I've purchased 1/2 oz. gold bars, 1/4 oz gold bars, 1/10 oz. bars, and in the last 3-4 years, I've purchased karatbars. For those unfamiliar with karatbars, think of a Kit Kat or a Hershey's chocolate bar. The karatbar comes in 50/1 GRAM increments and you just break off whatever amount you need should you need to use it.
At the moment, lets say gold is $ 2,400.00 an ounce, and a karatbar has 50 of the 1 gram unit. So, each gram is worth
48.00. If a person wanted to buy something that cost 200.00 they simply snap off 4 or so and that's it. I don't hardly have to carrry a BLOCK (which is not even a block, its a brick) worth $ 750,000.00 to buy a dozen eggs from a farmer, as some smart *** alluded to earlier in a thread. I have purchased kilos of gold that run about 60K each, depending on market price.
I also have many more ounces of physical silver than I do gold. In about 1990, I started to purchase physical silver for $ 4.85 an ounce, it's now 28.00 and change, but has been much higher in 2011 or so. Silver has been great for a long time, in my opinion, and may be the best item money can buy. I explained earlier in a different thread, I believe?, that China has primary control of silver pricing, but with India beginning to produce huge amounts of solar panels, they are now buy about 50% of global production, so China has lost control of silver prices. China has a huge demand also since they produce tons of Lithium batteries that require silver.
I have a ton of what is called "junk silver". Those are nickels, dimes, quarters, half dollars, and Silver dollars that are pre 1964 and contain high percentages of silver, making them much more valuable than their face amount. At melt value right now, a pre '64 dime is worth 2.05, a quarter is worth 5.13, a half dollar is worth 10.25 and a silver dollar is worth 28.33. My life has not been about experimenting with money. I like to know what I own has real, time tested value. Each denomination is worth about 20 times its face amount.
I also own Bitcoin, Ethereum, Litecoin, XRP, Veritaseum, Monero and a few "dogs." Some folks like cryptos, others don't, makes little difference to me, cause I'm gonna do what I do.
I try never to tell anyone outside my inner circle what to do, I can say, "this is what I do", but with matters of money everyone should do what feels and works right for them. I apologize for my typical long, drawn out answer, but you asked legitimate questions and I answered you honestly.
Do I think anyone who purchases gold will ever regret their decisions? My answer is they will not, especially if they had a true understanding of where we are as a country in regard to the economy.
The last point I'll add is this. Because of large gold purchases by China and many, many countries, we are going to run up against a "fail to deliver" situation, then people will find out what the real value of gold is. As a result of the COMEX and the LBMA having shortages of inventory, this puts enormous pressure on banks.
The Federal Reserve and US Treasury are in a debt trap that they cannot avoid, both entities are insolvent. We are going to run into a liquidity and credit crisis. It's just a matter of time. Thanks.
**Edited to add this** I have a good friend on the site who is a very successful farmer. Over the last couple years, I've given reasons why I like gold. He has done just fine for 70 years without my advise or suggestions, so I respect him enough to not push it any farther. As I've told him many, many times, he is well positioned through his ownership of a fair amount of good farm ground. Last time I checked, they're not making anymore land.... We ALL need to do what feels right for our situation.
