My Focus Is On Physical Gold
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:
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.All photos, gif, and video were taken by me with my iPhone6, unless indicated.
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