Cash is the king,but where to keep it ? Everything is risky now-in shares, in banks,or maybe at home under the pillow? We can't allocate 100% in gold or silver-maybe we can. What is the view of other's Stackers...
I am 90% gold 5% silver 5% cash. Gold and cash fit it in my wallet. Silver is unallocated. Got to keep the stack portable my friend .
Good question. And it obviously depends on the portfolio. Creativity comes to help when it comes to where to keep it Forget shares, minimize exposure to banks, but leave some money on your card. In Europe it's card payments that are "king", because cash is feared for "Corona infection". Here's my take for a portfolio of 10,000 USD (or EUR or GBP), which doesn't include monthly salary: 20 % cash - at hand, not in the bank, as emergency "survival fund": even in case you lose your job, you can live for 2-3-6 months on it (as an extreme measure) 60 % in gold - you REAL SAVINGS (for unexpected currency collapse, emergency health fund, wealth preservation) 15 % on bank card - have this surplus on your card or in a bank account, so that you can pay online 5 % in silver: burn 500 USD on silver at your own risk for speculation and diversification, but not more (otherwise just put it into gold), just in order "not to miss the boat" on the longer run (12-13 $ was a nice buy, but premiums were too high, perhaps we will have another buying opportunity or two) <<< this scenario could be good (remember: "could be"!) if you still have a constant monthly income (like if you're employed) As for unemployed, I think I'd god for 75 % fiat money and the rest of 25 % in gold.
give me the cash. i'll use it to loan to others and charge them them interest so i make money. i'll pay you interest as well so you make money. we both make money. it's not like a bank,........ honest
You have to keep a decent percentage in the bank to cover everyday expenses, pay off the credit card etc, unless you live a cash hermit lifestyle. The rest I would put into gold. But if you think you cash isn't actually safe in the bank you are quite delusional. It's government guaranteed up to $250k per account, and if you think that the entire system will collapse and your money will be worthless then you have more to worry about than what your cash can buy.
Yesterday I participated at a discussion regarding currencies. People were wondering which currency is best to keep their money in. I was surprised how all of them were fiat-believers and at some point they considered "gold is too expensive" It stunned me how stupid some people with some experience in finance/forex still remained fiat-lovers. People still don't understand the value of precious metals.
Bit of a silly question but just confirming that this guarantee isn't extended to other financial institutions just a Colonial, La Trobe Financial etc.
If you believe what Government/any for this matter/will guarantee ,you are very religious person. This $250k can be changed in a split of second, if national interest is on stake/war,disaster etc/. It has happened before in some countries it can happen anywhere. I don't think the entire system will collapse,but anyone with more gold in the pocket,will be much better off than keeping money in the bank...
It applies to the big four and a couple smaller banks, with only 250k of deposits guaranteed across all banks (so not a guarantee on individual accounts)
The politicians have their money in the banks too, they aren't going to let their own cash vanish. Thinking that your guaranteed cash in the bank will suddenly vanish is delusional. Like I said something massive and unprecedented has to happen, and happen so quickly that you don't have time to react. I'm not saying keep all your cash in the bank, that's actually dumb because you should have a good lot in gold. Just don't be delusional about it.
https://www.infochoice.com.au/news/...covered-by-the-governments-deposit-guarantee/ This is probably a more official list somewhere.
It won't disappear bud, it'll be locked up behind withdrawal limits for the common folk just like has happened countless times overseas. Of course those that are important won't have to face such limits. By locking it up that way, it'll remain in system but restricted to where they want it to be spent. No bullion transactions for you. No cash purchases for you. I often keep my accounts empty. Wages go in, bills get paid, rest is withdrawn same day.