- Centurion Member
- Posts: 1099
- Joined: Sun May 04, 2014 4:41 pm
- Location: Atlanta, GA
There are a lot of scam artists out there that are pitching and pumping up gold and silver in this economic collapse dollar collapse mantra BS of theirs. These are the same people who have been saying for years that the US would have some hyperinflationary economic collapse even though they don't understand anything about the petrodollar relationship or how the US is the sovereign issuer of its own currency, among many other things and have been consistently wrong over and over again. Really you could just do the opposite of what a lot of these guys preach and do very well.
I would never buy physical gold or silver and honestly, I'd buy the ETFs instead as CarefulBuilder14 and luvbullmarkets said. They sound a lot easier to trade and short with than the physical too.
If you do buy physical gold or silver for any reason, I'd buy it from a reputable dealer that doesn't charge massive fees for it at least. I've heard a lot about Newmont Mining for example. Don't ever go to a clown like Mike Maloney, Jim Rogers or Peter Schiff for these things ever IMO.
Just to show you how shady these physical gold and silver pumpers can be, just watch this. These are the folks I'm referring to.https://www.youtube.com/watch?v=-0bHh2UoXcU
For more context, just look at where gold prices have historically been prior to 2008 and especially where they were back in the 1980s. I really think that eventually the prices of physical gold will go right back down again. I think a lot what's been happening with gold prices is psychological and a result of these folks trying to create an urge for people to buy these precious metals.
Also we are still in one of the biggest stock market rallies in decades. Why not also invest in Vanguard S&P index funds since their fees are relatively low if you already haven't done so? I would also be more concerned about deflation than inflation and adjusting your investment strategy to take account for that factor as well. If the interest rates for CDs go up in the future, I'd also take a look at those too.
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