Title: Rickards: Why Gold Is Going To $10,000 Source:
[None] URL Source:https://www.youtube.com/watch?v=70xBQ2lL_pE Published:Mar 15, 2016 Author:Hedgeye Post Date:2019-04-23 20:28:09 by BTP Holdings Keywords:None Views:1028 Comments:11
Bestselling author Jim Rickards sits down with Hedgeye CEO Keith McCullough to discuss his new book “The New Case for Gold” and why a cocktail of factors makes it more critical than ever for investors to protect their portfolios with gold.
“The most dangerous man to any government is the man who is able to think things out... without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable.” ~ H. L. Mencken
The light that burns twice as bright, burns half as long. - Dr. Eldon Tyrell
Godfrey Smith: Mike, I wouldn't worry. Prosperity is just around the corner. Mike Flaherty: Yeah, it's been there a long time. I wish I knew which corner. My Man Godfrey (1936)
They are suppressing the price of gold the same way they are doing it to silver.
Whatever "they" are doing seems to be working. Fortunately, I didn't buy in at the top. Haven't lost any money... Yet.
BitCoin, and others scares the crap out of me. Sorry, Pin.
The light that burns twice as bright, burns half as long. - Dr. Eldon Tyrell
Godfrey Smith: Mike, I wouldn't worry. Prosperity is just around the corner. Mike Flaherty: Yeah, it's been there a long time. I wish I knew which corner. My Man Godfrey (1936)
I know a girl who is into the digital currencies. She made some money on it a couple of years ago. Now she is trying to get back into it. She is pretty sharp about it all, but I do not know a thing about it.
If I can't gold it in my hand it is worthless to me. Plus it could all disappear in an instant.
Look what happened to Bitcoin when China and Brazil put controls on it. It lost 20% overnight. ;)
"When bad men combine, the good must associate; else they will fall, one by one." Edmund Burke
BitCoin, and others scares the crap out of me. Sorry, Pin.
It's been around for almost 10 years and in that time has done a reverse Zimbabwe dollar.
The first official bitcoin purchase was for 2 pizzas. Cost: 10,000 bitcoin, which is worth $55 million today, or over $200 million at the Dec 2017 peak. Granted, I believe they were *large* pizzas, and also had extra toppings to boot, so it wasn't a total ripoff.
Doing crypto requires a different mindset from traditional investing. And it does seem to be on a rebound at the moment with prices around the 5400-5500 range. If it follows historical patterns it won't be this low again, the next peak could see it go to $50k or more.
I have bought crypto but I've never sold it for USD or any paper fiat. I did by a shirt once with Bitcoin Cash though, while at the beach last year. That was cool to do.
Other than that, I will trade crypto for other crypto and have made good % gains doing that, like maybe 20% on a round trip trade such as Bitcoin cash -> Bitcoin -> Bitcoin Cash.
If you want to give the middle finger to a dominating world gov, nothing does it quite like crypto currency.
My advice to anyone is to stick to the 4-6 major crypto currencies and don't bother touching any of the hundreds of alt coins out there.
If you want to give the middle finger to a dominating world gov, nothing does it quite like crypto currency.
That seems to be the whole idea. The main problem is that the cryptos are all digital. As long as the internet is up everything is copasetic with it all. If internet goes down, well, you get the picture. ;)
"When bad men combine, the good must associate; else they will fall, one by one." Edmund Burke
You missed my point: You compare the value of bitcoin to the US dollar, as though the dollar is sound money.
Bitcoin record drawdown (in USD terms) was almost 90%, from about $1050 to just over $100. But obviously, anyone buying even at that horrible $1050 figure would be sitting pretty right now with prices around $5400.
The main problem is that the cryptos are all digital. As long as the internet is up everything is copasetic with it all. If internet goes down, well, you get the picture. ;)
In this day and age, if the internet goes down, the US economy crashes, and having cash won't help much.
The vast majority of US dollars in circulation exist only in digital form. Printed cash makes up only a small percentage of all US currency, and of course, paper cash is just that paper, so USD has no advantage over crypto in that respect.
To qualify as money, a substance or thing should score well on a number of criteria. It must be divisible, not corrode or deteriorate. Be in general demand, be immune from counterfeiting, and have intrinsic value. Crypto currency fails on the last criteria but scores well on the other 4. There are other criteria also. That crypto can be paid to anyone in any country (even those being sanctioned like Russia and Iran) without having to get up out of one's desk chair is a very strong plus. Transactions are far cheaper than bank wires and most other payment methods too.