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https://www.youtube.com/watch?v=SbME_0kZyfk
Might have to remove some links from this page. Takes a long time to load.
Also. investing in silver/gold based or cringe? A millionare I know thinks every world currency's gonna collapse.
"Dismas - Inheritors of a Fallen World" sounds like a hidden gem JRPG
gold is based, but idk. depending on what kind of scenario we're expecting, its value in like, computer parts might suddenly not mean much. But in a "we can't use computers anymore" apocalypse, the value of everything else probably isn't going to be especially high anyway.
I'm not an expert, but I've been told that when the economy just outright collapses into oblivion, people generally resort to a bartering system. Things with actual value. Gold and silver are the highest it's been in a long time, which makes it risky to get into now because if it drops back down you can lose a fair bit of cash. So far it's kept going up but I have no clue how long that'll last.
Also, if I remember correctly, the US Government forced people to turn in their gold during the Great Depression. In any case, IG if you have any on hand now, now's not a bad time to sell it and use the money to get something useful while it still has worth lol. Like food supplies or a generator or something. Just in case things go south ig.
I realize that my infodumping wasn't entirely coherent, but uh, I guess my overall point is that I'm not too confident that investing into gold or silver is the answer to economic collapse. I think investing in more practical things is the way to go personally. Anything that helps self-sufficiency.
He's right, imagine how much easier it'll be for assets to be seized now in some kind of nightmare scenario. Mouse clicks, they don't even need your cooperation, no-one's storing their gold in their own homes. Even if you were, lol, *bang*. It's uh-- probably worthwhile to like, invest *socially* so none of your neighbors will eat you.
The feds did take everyone's gold. He's a Boomer so he told me his Grandpa lived when that happened. Nonetheless, he thinks silver's going to bump from $30 to $800 at most and while I agree $800 is the real value of 1oz, I can't help but feel insiders won't allow it. However, the point where they'll have no choice may be coming soon. I'm not smart enough to think of these things. Low IQ plays are the only plays.
As for having my assets seized. I mean, it happened to my family before. I just don't think it's likely since everyone in my neighborhood is richer than we are. I don't know. I figured if a guy who knows how to make a lot of money says it's true, he may be worth listening to.
The highest silver's ever been was almost $50 per oz in 1980 cuz somebody manipulated the market. $800 per oz would be pretty nuts. The reason why it goes up/down is related to demand. When a lot of people want to buy, price goes up. When a lot of people want to sell, price goes down. So if it goes up to $800 (all a sudden), a ton of it is gonna get dumped into the market all at once.
What I can say as someone who somewhat observes these trends due to work is that the prices have been steadily going up these past few months. So for some reason there's still a steady demand even though it's getting more expensive. Part of it may be economic/political distress, but ultimately, I don't really know why or how it's happening. It's too arcane for me.
I have no comment on gold or silver because I am poor, but I did inherit some silver from my grandfather. I don't know what I could do with it in a total collapse scenario (unlikely). But it'll probably retain its value more than fiat.
I too am aware of economic hardships that are coming up probably by early of next year. It's a given seeing how everyone is acting lately. If I had to make a choice for myself as to mitigate the consquences, maybe I would consider stocking up on some long-term food items because those are certainly going to rise, water, maybe a power bank if you can afford one.
Tools could be pretty important too. In case you have to do your own repairs. I don't trust my local auto repairs shops to preform an oil change on my car without screwing something up and making me pay hefty charges to replace auto parts that they break (and probably intentionally too).
Looking through this thread now. Man, when I said currency collapse I wasn't expecting you all to jump to Day 1 Zombie Apocalypse mode. I live in Minnesota, but my house isn't in Minneapolis. Also, if WW3 starts I'm probably getting drafted. Still Wizard, keep that silver on hand. Family experience in collapse scenarios, people still rob you for that stuff because IT'S THAT VALUABLE. The stock market's a lie.