Gold Monitoring Thread £ GBP only

[TommyTwoShots]

All things come to an end. Maybe this is the end of metals. People often state fiat will become worthless. Perhaps gold would? Just throwing out ideas here.

[Cogload]

30 minutes ago, Bigmarc said:

To make money to by gold

Indeed. 

[Happypanda88]

12 minutes ago, TommyTwoShots said:

All things come to an end. Maybe this is the end of metals. People often state fiat will become worthless. Perhaps gold would? Just throwing out ideas here.

Time for you to exit out of metals !? 

[HerefordBullyun]

22 minutes ago, TommyTwoShots said:

All things come to an end. Maybe this is the end of metals. People often state fiat will become worthless. Perhaps gold would? Just throwing out ideas here.

History has proven that gold has stood the test of time regardless of its value, just becuase the sentiment is now crypto becuase people have moved it out of PMs. Diversity is key in investing, 

[Bigmarc]

14 minutes ago, TommyTwoShots said:

All things come to an end. Maybe this is the end of metals. People often state fiat will become worthless. Perhaps gold would? Just throwing out ideas here.

I had the same thought process a while back. I came to the conclusion (with help from other members) that gold is in culture, religion, banking system. It is more than just a value of fiat. It is so inbedded in society that it will never go. I had to sell some of my gold and silver to get into the crypto space (you bought some of it) and it was quite a difficult (emotionally) it won't be a problem the other way round.

[RDHC]

1 hour ago, TommyTwoShots said:

I’m worried about this. Could crypto make gold worthless?

You may be slightly reassured to learn that, from what I read, there are not so many new buyers for crypto these days, which is perhaps why the price has been stagnating recently (and it's way down from its high point of nearly $70,000 a few months ago). If there is indeed a declining number willing to be first time buyers of this version of the emperor's new clothes, then the price will do worse than merely stagnate and the whole thing will be revealed as a ponzi scheme. 

[HerefordBullyun]

1 minute ago, Bigmarc said:

I had the same thought process a while back. I came to the conclusion (with help from other members) that gold is in culture, religion, banking system. It is more than just a value of fiat. It is so inbedded in society that it will never go. I had to sell some of my gold and silver to get into the crypto space (you bought some of it) and it was quite a difficult (emotionally) it won't be a problem the other way round.

Thats my point exactly have amix of everthying. I have PMs Stocks and Crypto, the riskiest is the latter to me. Thats why my portfolio is 45% Stocks 45% PM and other crypto. I already recieve a pension which I reinvenst in tdah PM's!

[HerefordBullyun]

2 minutes ago, RDHC said:

You may be slightly reassured to learn that, from what I read, there are not so many new buyers for crypto these days, which is perhaps why the price has been stagnating recently (and it's way down from its high point of nearly $70,000 a few months ago). If there is indeed a declining number willing to be first time buyers of this version of the emperor's new clothes, then the price will do worse than merely stagnate and the whole thing will be revealed as a ponzi scheme. 

Micheal Burry says so. But do i think its going away? the answer is no but many will fail but a handful.

https://zappyre.com/watch/michael-burry-bitcoin-prediction-bitcoin-is-a-bubble-fall-will-be-painful-2021_z7e35mfEBD42kJL.html

Edited December 30, 2021 by HerefordBullyun

[TommyTwoShots]

39 minutes ago, Happypanda88 said:

Time for you to exit out of metals !? 

Nar I don’t think so, cheers.

[TommyTwoShots]

29 minutes ago, HerefordBullyun said:

History has proven that gold has stood the test of time regardless of its value, just becuase the sentiment is now crypto becuase people have moved it out of PMs. Diversity is key in investing, 

I hope so. I really do. I don’t own crypto yet but on the next dip I’m going to diversify.

[HawkHybrid]

1 hour ago, SidS said:

In essence crypto is not dissimilar to the mind tricks that give fiat currency value.

crypto is nothingness made to look like something.(a big waste of electricity)

currency is distribution of a nations productiveness that is stored in a form that is physically nothing.

(think of currency like language, conveying information. the physical medium by which language is

used is not important. it's the information that has value. don't judge a book by it's cover?)

 

gold had value before people recognised it as valuable. the value in gold has nothing to do with humans

or culture.

 

HH

Edited December 30, 2021 by HawkHybrid

[chrisdobb]

How do you liquidate crypto when the system fails, what do you use to access it???

PM is for when the system fails!

[Bigmarc]

12 minutes ago, chrisdobb said:

How do you liquidate crypto when the system fails, what do you use to access it???

PM is for when the system fails!

Liquidate into what? If the system fails there would be nothing to liquidate into. 

[chrisdobb]

OK rephase that to realise your assets

[HawkHybrid]

1 minute ago, Bigmarc said:

Liquidate into what? If the system fails there would be nothing to liquidate into. 

into useful stuff like bread and baked beans.

 

HH

[matt1r]

How many 1000 years have precious metals been a form of currency or value, if crypto made PM worthless after all this time I’d be seriously worried.

[Minimalist]

3 hours ago, TommyTwoShots said:

All things come to an end. Maybe this is the end of metals. People often state fiat will become worthless. Perhaps gold would? Just throwing out ideas here.

Did… Did you just… Post… Gold would end? If it would end… The universe would need to end.

[Bigmarc]

23 minutes ago, HawkHybrid said:

into useful stuff like bread and baked beans.

 

HH

Definitely tell you are British, bread and baked beans. All we we now is a potato and we have the whole British menu sorted. 

[SidS]

1 minute ago, Bigmarc said:

Definitely tell you are British, bread and baked beans. All we we now is a potato and we have the whole British menu sorted. 

And cabbage.

[Mtaybar]

17 minutes ago, Minimalist said:

Did… Did you just… Post… Gold would end? If it would end… The universe would need to end.

Fiat can be replaced at anytime at any cost. It's just worthless paper or digits on a screen at the end of the day. If someone pulled the plug and all the computers in the world just suddenly shut down.... Bye bye crypto. If one country invaded another and wanted to convert the current fiat system then bye bye whatever your paper had on it. Gold on the other hand is gold and silver is silver. It may not be worth £1380 an ounce but then paper fiat wouldn't be worth a thing. Gold will always be worth something. Always has and always will. 

[Bigmarc]

26 minutes ago, chrisdobb said:

OK rephase that to realise your assets

You can't, same as shares, pensions, ISAs, sipps. As bully said above, diversity. Not to sure if my metals would help if the system failed. Witt's and life skills. Now the recovery is when I would be sitting pretty.

[SidS]

If covid's taught me one thing toilet paper holds its value rather well.

[TommyTwoShots]

1 hour ago, Minimalist said:

Did… Did you just… Post… Gold would end? If it would end… The universe would need to end.

What are you on about now.

[TommyTwoShots]

1 hour ago, Bigmarc said:

You can't, same as shares, pensions, ISAs, sipps. As bully said above, diversity. Not to sure if my metals would help if the system failed. Witt's and life skills. Now the recovery is when I would be sitting pretty.

Absolutely correct. If the entire system failed life skills would become vital. Only a tiny minority of the uk have such basic skills as map reading, water purification, food cultivation or even knowledge about making a fire.

1 hour ago, SidS said:

If covid's taught me one thing toilet paper holds its value rather well.

Lol 😂 it’s a major lesson of the pandemic.

[sixgun]

6 hours ago, TommyTwoShots said:

I’m worried about this. Could crypto make gold worthless?

Most of the first generation cryptos will go to zero. BTC is a CIA / NSA creation. 
Gold will never go to zero - it is real money. As i said in that other thread, the new financial system will have gold at its heart. China and Russia have got around 40 000 tonnnes of gold each. They are not doing that for fun. Nations will trade using gold credits as they did in past times. Nations in the developing multipolar world are amassing gold - they're not amassing NFT's of Katy Perry.