# BOA investors dumping Gold



## Smitty901 (Nov 16, 2012)

"Gold is the worst-performing major asset class of 2018. " Seems by hype they had run the price up as high as it was going to go now time to dump and run

https://www.yahoo.com/finance/news/bank-america-massive-investors-dumping-135200567.html


----------



## StratMaster (Dec 26, 2017)

Anybody buying gold as an INVESTMENT asset has been reading tea leaves. It's a hedge.


----------



## Old SF Guy (Dec 15, 2013)

Look cats...I don't invest in any precious metals other than Lead and brass.....here is my unskilled, but observant opinion on the issue....

The very moment you see or hear ads to invest in anything....its time to start selling it. When it bottoms out and the media has stopped talking about how far its fallen.....its time to start buying it....

It pisses me off when the talk show hosts do the commercials on Gold or silver buying because loyal followers often do follow.

I don't cause I'm poor...and I can buy a few 35 cent bullets and take all of someone else's Gold if I had to. Not saying I would....just that I could.


----------



## StratMaster (Dec 26, 2017)

PLENTY of fear mongers and snake oil salesmen in the PM business, but they represent an infinitesimal portion of the gold market. It's the COMEX one watches, as well as currencies. Trades in metric tons are far more revealing than some guy bootstrapping off the Alex Jones Show.
MOST people, even most preppers, will never have to even consider gold. Most people simply don't have the depth of a portfolio to justify or allow it. If after you have purchased EVERY prep twice over what will ever be needed ... food, guns, ammo, land , tools, etc... and you STILL have hundreds of thousands or even millions in liquid assets, then one has to consider hedging. That represents hardly anyone in reality. Most people don't have that kind of liquid savings... making the whole thing MOOT.
Hedging with gold is just that: hedging a bet. If you are a bookie, and suddenly you are flooded with large bets on a longshot horse, you see a chance of being wiped out if that longshot actually comes in. This is why bookies "lay off" a portion of those bets to other bookies... to reduce their risk to acceptable levels.
This is what you are doing with gold as a hedge. It's not an investment, and you are not going to get rich buying it. BUT, if the currency collapses, you purchasing power will be preserved in the gold you are holding. If the dollar rallies, then your gold value drops... but your dollars either have better purchasing power globally, or interest rates are high enough that you are making as much more from dollar investments as you lost in gold. It's a wash. But hardly anyone is in the financial position to need it.
I am of the opinion that a strong case can be made for SILVER as an investment due to it's ever increasing industrial usage and dwindling supply. My silver is maybe 3 times what I paid for it. Some of my gold I bought at $200 an ounce, some at $1000. I don't watch the values with distress, because the hedge thing is simply a mechanism to reduce risk... not get rich.

I also don't think there will be much of ANY bartering with PM's in a SHTF scenario. Sure, lots of guys on the forum have made the statements like "you cant eat it" or "its only worth what people perceive it to be worth arbitrarily". While I have argued in the past that these point are irrelevant and/or false, here's one that ISNT. MOST people, and by most I mean 999 out of 1000 or WORSE, have no idea about silver or it's value. No education on it whatsoever. Have you ever seen that guy on Youtube, offering passing strangers a ten ounce bar of silver (worth $220 at the time) or a Hershey Bar? He couldn't even GIVE that silver bar away, for FREE, because no one knew it's value. They all chose the Hershey Bar. This will occur after SHTF, with nobody having the slightest clue that your 1960 half dollar has any special worth. That ignorance alone will likely quell any bartering with PM's.
It's a hedge to protect your purchasing power when an economy recovers and a new currency issued. THAT's it's value, AFTER SHTF has passed.


----------



## paraquack (Mar 1, 2013)

I prefer Brass and lead, too!


----------



## StratMaster (Dec 26, 2017)

I have enough "persuasive metals" i.e. brass lead to float a small war... gotta have those first.


----------



## stowlin (Apr 25, 2016)

When everyone is selling buy cheap


----------



## StratMaster (Dec 26, 2017)

stowlin said:


> When everyone is selling buy cheap


Always a reliable policy.


----------



## Camel923 (Aug 13, 2014)

Junk silver may be useful right after no one will accept paper money. Printed by the US mint the purity is not questioned and rather than a bar, it can be traded with ease in small increments or spent similar to cash. Even if it becomes unusable, it will retain value as the crisis eases and preserve wealth Which the bars of pms do. Once the dollar collapses, it’s not coming back. Money in a bank? Gone with the wind. Paper assets will equal a poor substitute for tp. Look at the Bolivar.


----------



## AvTur (Jun 23, 2018)

StratMaster said:


> It's a hedge to protect your purchasing power when an economy recovers and a new currency issued. THAT's it's value, AFTER SHTF has passed.


That's the best argument I have heard for buying precious metals. 
That said, you need to make it through to the rebuild phase in order to take advantage of your investment. I know too many who have stocked up on precious metals but haven't taken the time to make sure they can make it through any period of turmoil.

I'm personally one of those people you refer to further up your post who isn't in a position to take advantage of it's benefits because I simply don't have the disposable cash.


----------



## Slippy (Nov 14, 2013)

As a Hedge, Precious Metals "might" be a good insurance policy to have.

Our decision many years ago was to have our Homestead below;

Home/Land Paid Off and No long term debt (only debt is short term liabilities)
Large Vegetable Garden Established, 
Equipment/Tractor/Implements/Tools to work the land, 
Food Storage and Rotation Practices in place
Defense/Firearms/Ammo/Cleaning/Maintenance
ETC

So maybe our Cash/Equities Retirement Fund may not be as large as it would be had I not concentrated on building our long term Homestead. But our Homestead IS our Hedge.


----------



## AquaHull (Jun 10, 2012)

Only debt is Mom's Credit Card, which I'm trying to keep her from buying on QVC while she's in hospice/:vs_gift:


----------



## BookWorm (Jul 8, 2018)

StratMaster said:


> PLENTY of fear mongers and snake oil salesmen in the PM business, but they represent an infinitesimal portion of the gold market. It's the COMEX one watches, as well as currencies. Trades in metric tons are far more revealing than some guy bootstrapping off the Alex Jones Show.
> MOST people, even most preppers, will never have to even consider gold. Most people simply don't have the depth of a portfolio to justify or allow it. If after you have purchased EVERY prep twice over what will ever be needed ... food, guns, ammo, land , tools, etc... and you STILL have hundreds of thousands or even millions in liquid assets, then one has to consider hedging. That represents hardly anyone in reality. Most people don't have that kind of liquid savings... making the whole thing MOOT.
> Hedging with gold is just that: hedging a bet. If you are a bookie, and suddenly you are flooded with large bets on a longshot horse, you see a chance of being wiped out if that longshot actually comes in. This is why bookies "lay off" a portion of those bets to other bookies... to reduce their risk to acceptable levels.
> This is what you are doing with gold as a hedge. It's not an investment, and you are not going to get rich buying it. BUT, if the currency collapses, you purchasing power will be preserved in the gold you are holding. If the dollar rallies, then your gold value drops... but your dollars either have better purchasing power globally, or interest rates are high enough that you are making as much more from dollar investments as you lost in gold. It's a wash. But hardly anyone is in the financial position to need it.
> ...


 @StratMaster - I see your point on the fact that nobody took the 10 oz bar of silver, instead took the Hershey bar. However, I'm not betting on many of the Hershey fans to even be around 7 days after an event takes place. I buy silver to have and to possibly trade with those who have prepped and will be around months after the event.


----------



## Annie (Dec 5, 2015)

AquaHull said:


> Only debt is Mom's Credit Card, which I'm trying to keep her from buying on QVC while she's in hospice/:vs_gift:


oops, edit. Prayers for your mom.


----------



## The Tourist (Jun 9, 2016)

We chose silver. Not only is it a precious metal, but it can be used in electronic devices, I figured a "twofer" doubled our chances.


----------



## rice paddy daddy (Jul 17, 2012)

Remember back during the stock market crash of '07 when the "investment gurus" were advising everyone to buy gold while it was "only" $1800/ounce because it was SURE to soon hit $3,000?

How about all the easily led who invested their life savings at $1800/ounce and today its $1200?? :sad2:

I'm glad it did like @Slippy and spend every available dollar paying off the mortgage, the vehicles, the tools & equipment, etc.
The economy could "overheat" tomorrow, and the sun would still rise over Answered Prayers Farm, we would still eat, and could even go for a ride after saddling up the old mare.
:vs_coffee::vs_cool:


----------



## Maine-Marine (Mar 7, 2014)

I have some silver... of course I also have a bunch of beans, bullets, and band aids... 

I was in a small store a few years back, as I was getting ready to pay there was a young fellow (a little under 30) behind the register... I was getting a Coke and a snack... I asked him.. would you accept a silver quarter for these... not missing a beat he said "yes and i would give you some change back"

I carry some silver in my wallet and some lead in my center console. Being prepared means being prepared for lots of things... I would not break the bank buying PM's but owning some (at a good price) seems like a wise idea....


----------



## StratMaster (Dec 26, 2017)

The Tourist said:


> We chose silver. Not only is it a precious metal, but it can be used in electronic devices, I figured a "twofer" doubled our chances.


Again, while I think of gold as a hedge, I think a strong argument can be made for silver as a long term investment to hold. Won't go into all that again, but it is still in older threads on silver. I agree you cannot really go wrong choosing silver as a storage of your wealth.
Cheers!.


----------



## StratMaster (Dec 26, 2017)

rice paddy daddy said:


> Remember back during the stock market crash of '07 when the "investment gurus" were advising everyone to buy gold while it was "only" $1800/ounce because it was SURE to soon hit $3,000?
> 
> How about all the easily led who invested their life savings at $1800/ounce and today its $1200?? :sad2:
> 
> ...


Like I said, if you're going to buy gold off of some guy bootstrapping off the Alex Jones show, you're being snake-fascinated. Fear without knowledge creates a pretty good sized sucker market for these types to exploit. Gold can have it's proper place, but you decide what that proper place is yourself... not let someone talk you into it from a so-called "position of authority".


----------



## StratMaster (Dec 26, 2017)

BookWorm said:


> @StratMaster - I see your point on the fact that nobody took the 10 oz bar of silver, instead took the Hershey bar. However, I'm not betting on many of the Hershey fans to even be around 7 days after an event takes place. I buy silver to have and to possibly trade with those who have prepped and will be around months after the event.


Sure. I'm saying for example:
If death is random... say from a deadly virus, then the very same percentage of folks who know nothing about silver will still fill out the remaining population... still 999 out of 1000 who have no idea that your silver has any value, and will STILL prefer the Hershey bar. AND one has to assume they will be even LESS likely to months after SHTF... because basic resources for maintaining life i.e food water meds - have dwindled away.
But take heart. All the silver you own will retain its purchasing power when we return to money... as every civilization has in the history of man following a collapse.


----------



## Elvis (Jun 22, 2018)

I still hold some gold, bought little bits a few times through out the years but none the last few years. It goes up and down but if I never use it the kids will have a bit.

If a person had to bug out and only had $500 worth of silver to carry on their back that's doable. If a person had to bug out and had $5000 in bullion to carry a bit of gold vs the weight of silver would be appreciated. A mix of both would be a smart choice to keep weight down.

If SHTF happened and your local government in whatever form required some payment having a bit of precious metals may come in handy. And if instead you die old and gray with a few coins you're kids will get a little something that still holds some value. And for you "economic collapse" people; if the dollar loses all value you'll still have something with intrinsic value.


----------



## Elvis (Jun 22, 2018)

AquaHull said:


> Only debt is Mom's Credit Card, which I'm trying to keep her from buying on QVC while she's in hospice/:vs_gift:


That's a tough spot to be in. I remember trying to reduce Dad's desire to buy a show jumper horse when Parkinson's had robbed him of the ability to ride a horse over fences.


----------



## AquaHull (Jun 10, 2012)

Elvis said:


> That's a tough spot to be in. I remember trying to reduce Dad's desire to buy a show jumper horse when Parkinson's had robbed him of the ability to ride a horse over fences.


QVC is a synonym for PSA ( Palmetto State Armory ) :vs_cool:


----------



## Mosinator762x54r (Nov 4, 2015)

Old SF Guy said:


> Look cats...I don't invest in any precious metals other than Lead and brass.....here is my unskilled, but observant opinion on the issue....
> 
> The very moment you see or hear ads to invest in anything....its time to start selling it. When it bottoms out and the media has stopped talking about how far its fallen.....its time to start buying it....
> 
> ...


Fear monger Peter Schiff is notorious NOTORIOUS for this kind of stuff. "Everyone should be REALLY WORRIED the economy is going to collapse and THE DOLLAR IS ABOUT TO COLLAPSE SO BUY MY GOLD!!!"

Every time I see him on Youtube being interviewed and he starts pumping this garbage I comment , "The world is ending...dollars are gonna be worthless...you want to sell me gold...and take my worthless dollars?!?!?!?!?! WHAT'S A MATTER WITH YOU????"

Then all his fanboys start crushing me in the comments. Its a freaking echo chamber. I can't believe people can't see through this snake oil salesman. Not only that but he doesn't even sell solid gold!!!! He sells GOLD CERTIFICATES!!!! What in the world people? How stupid do people have to be to buy gold that probably/likely doesn't even exist.

I have bought a little bit of silver lately because it has dipped to the point where it is palatable for me to say OK. It's part of my all around preps. I'm still looking around at the best deals for food, ammo, back up heating, water procurement. A rounded approach. I sure as heck am NOT BUYING gold certificates from online salesman.


----------



## inceptor (Nov 19, 2012)

Mosinator762x54r said:


> Fear monger Peter Schiff is notorious NOTORIOUS for this kind of stuff. "Everyone should be REALLY WORRIED the economy is going to collapse and THE DOLLAR IS ABOUT TO COLLAPSE SO BUY MY GOLD!!!"
> 
> Every time I see him on Youtube being interviewed and he starts pumping this garbage I comment , "The world is ending...dollars are gonna be worthless...you want to sell me gold...and take my worthless dollars?!?!?!?!?! WHAT'S A MATTER WITH YOU????"
> 
> ...


Unfortunately there are many morons out there that have no problem buying gold certificates. The problem there is that many people think they own gold when they all have been sold the same pile.

Gold and/or silver should be nothing more than a part of well rounded preps. And, just like beans, bullets and bandaids, they should be in your possession.


----------



## Smitty901 (Nov 16, 2012)

inceptor said:


> Unfortunately there are many morons out there that have no problem buying gold certificates. The problem there is that many people think they own gold when they all have been sold the same pile.
> 
> Gold and/or silver should be nothing more than a part of well rounded preps. And, just like beans, bullets and bandaids, they should be in your possession.


 Nothing like buying a peace of paper that says you have some gold stored safely away some where. What you have is a peace of paper.


----------



## StratMaster (Dec 26, 2017)

Smitty901 said:


> Nothing like buying a peace of paper that says you have some gold stored safely away some where. What you have is a peace of paper.


If it's not in your possession, you don't own it. You could even get screwed storing your physical gold/silver in a safety deposit box. If it's not in your fist or in your secret safe, it just isn't yours.


----------



## Smitty901 (Nov 16, 2012)

I like how they say there is only so much Gold in the world . Then they say all of it would fill X number of swimming pools. Then they sell many times more than that. Someone needs to be in jail.


----------

