Theres no explanations that would make any sense! That's the sad part! Hehe
Gold Just Hit AU$2,000
- Thread starter GoldenEye
- Start date
Conspiracies make better movies.
I've posted this elsewhere but the message is still relevant.
In the past, I did contemplate selling part of my gold stack when it reached $2k and paying off the mortgage.
But, now that I am in that position I have decided to hold out for another 3 years before doing that.
My reasoning is that mortgage interest rates are very low and going lower, so to hold the mortgage for another
3 years will only cost me about 10%, which in percentage terms is less than where the gold price was at the start of the year.
So its a no brainer really as the gold price is increasing and expected to peak according to some in about 2022/23.
But, now that I am in that position I have decided to hold out for another 3 years before doing that.
My reasoning is that mortgage interest rates are very low and going lower, so to hold the mortgage for another
3 years will only cost me about 10%, which in percentage terms is less than where the gold price was at the start of the year.
So its a no brainer really as the gold price is increasing and expected to peak according to some in about 2022/23.
You'll lose more than you gain with inflation. Maybe if it was 10 percent.
people who retired, some may want to earn that 2%
some people who hold metals can slowly sell and pay for expenses
metals can be expensive for some people to hold, as they do not have sufficient cash/asset/metals etc
buying silver, you pay for premium and later sell them for spot
well retire people who collect rental income is better off, they can buy metals
other expenses can be covered from their rental income etc
Agree if status quo remains, but what happens if an Asian financial crisis hits? We're almost due for one.
It only affected people who ran out of money ie bad investment or lost their jobs.
Most people's life was pretty normal through all the financial crises and for those with money it opened up great opportunities.
Nevertheless I totally agree that the world is due at least a China Recession within a decade, nothing sinister or due to some conspiracy.
One has to remember there is nothing special about China compared to Korean, Taiwanese or Japanese development.
All had double digit growth out of poverty and each had multiple recessions as they transitioned from agrarian economy to low skill/low wage to a developed high tech/services economy.
Lets not forget... in the 60's Jap Crap, the 80's Korean Nike rip offs and Taiwanese junk of 90's but look at them now.
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97, I was already working part-time in Singapore and Indonesia, and to be honest it wasn't bad in Singapore because the tech export sector is still doing well - dot com boom era. However, the property price collapse caught the wealthy and property flippers by surprise so quite a couple of property developers went bankrupt and dragged down the banks. Singapore Inc. had enough resources to bailout the banks of their bad loans quietly so it's really business as usual for most people. I would assume the same if another financial crisis hits.
In Indonesia, some people lost money when banks folded and owners absconded overseas, but most Indonesians were poor at that time with high unemployment even before the financial crisis, and it's not difficult for poor people to get used to even more poverty, e.g. venezuela.
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Also lets not forget, unless there is WW3....
Australia is going to have a China led mineral BOOM like nothing else we have seen before, maybe 100 times larger, when the average Chinese families in the "cities and rural" China can all afford a car or two, all the white goods they want, AC and toys we take for granted.
Australia is going to have a China led mineral BOOM like nothing else we have seen before, maybe 100 times larger, when the average Chinese families in the "cities and rural" China can all afford a car or two, all the white goods they want, AC and toys we take for granted.
Global trade enhances prosperity. Adam Smith pointed it out 200 years ago.
Got Gold?
https://www.zerohedge.com/news/2019...t-currency-manipulation-game-devaluing-dollar
Kevin C. Smith, CFA @crescatkevin
Insanely bullish for gold.
$XAU $GLD $GC $GDX https://twitter.com/realDonaldTrump/status/1146423819906748416 …
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12:52 AM - Jul 4, 2019
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Kevin C. Smith, CFA @crescatkevin
Insanely bullish for gold.
$XAU $GLD $GC $GDX https://twitter.com/realDonaldTrump/status/1146423819906748416 …
Donald J. Trump ✔ @realDonaldTrump
China and Europe playing big currency manipulation game and pumping money into their system in order to compete with USA. We should MATCH, or continue being the dummies who sit back and politely watch as other countries continue to play their games - as they have for many years!
China and Europe playing big currency manipulation game and pumping money into their system in order to compete with USA. We should MATCH, or continue being the dummies who sit back and politely watch as other countries continue to play their games - as they have for many years!
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I think understand your position on how and why you place a non-monetary value on your PM's, however market value must play a factor in what you buy and when?