Let's go on a cruise! 😇
Fascinating... I was just thinking about 'runs' on banks by depositors. Of course troubled banks might be shaving corners all around. I heard a few months ago that the Fed had relaxed the reserve rule on individual banks; I don't know how that has progressed... but the Fed was supplying huge amounts overnight to cover banking shortages. Again, I more trust your knowledge and experience.
***I do think huge inflation is waiting somewhere down the road***
Disturbing - but seemingly overdue. If DJT can revive a thriving economy perhaps we can deal with the staggering U.S. debt. The DS globalists will continue to oppose I think. My son's financial advisor says gold is not really a hedge against inflation; however he seems to take the longer view. When paper currency becomes volatile what else besides commodities can one turn to?
My son’s financial advisor says gold is not really a hedge against inflation; however he seems to take the longer view. When paper currency becomes volatile what else besides commodities can one turn to?
********************************************************************************
What is your son’s financial advisor selling? Betcha that’s what he thinks is best. Ha.
I like silver at this time. Lots of industrial uses and relatively cheap compared to gold. Should be a hedge against inflation in the long run. Best thing to do is get mortgage free to make sure you have shelter. And stock up on food etc.
Remember when a first class stamp cost 3 cents? Remember when gasoline and hamburger cost less than a dollar? Well that’s your fiat currency and inflation at work-and at mostly low inflation rates with some double digit exceptions.
And the stock market is already overpriced. So precious metals, land, food stocks, and ammo etc. that’s about it. Balanced portfolio-when I was a financial advisor-was considered prudent to have around 10% precious metals.
In 1913, 1/20 oz of gold cost $1. So that’s $20/oz. Now it’s over $2000/oz. After a big financial crash, CASH will be king for a short while, shortly thereafter cash won’t buy nearly as much. And we know they will try to ban cash eventually—too easy to have black markets and avoid taxes.