Cash is the King...

Discussion in 'Currencies' started by madaw1, Mar 19, 2020.

  1. TreasureHunter

    TreasureHunter Well-Known Member

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    Gold being sold for that much? 1 oz?
     
  2. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    I keep minimal cash on hand or in the bank, only what I need for the week. Maybe a few hundred bucks at a time for groceries or whatever. Cash gets spent too easily and wastes away too fast to hold for any amount of time in my opinion. All the rest goes to metals for now.
    I'm 100 percent in metals with one days wage in the stock market.
    Screw the banks and screw the dollar.

    Right now is about safety and holding purchasing power.
     
  3. Mimaki

    Mimaki Member

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    What about debt? do you own your house?
     
  4. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    We have raw land we are homesteading so it was undeveloped and cheap. I owe about 30k usd for it now so 2 more years maximum will be paid for. Our home is a custom rv I built about 12 years ago for a tiny home and weve been in it ever since.
    No other debt besides cell phone service and car insurance that's it for us.
    I could go without those if I had to but I'd be a criminal without insurance and google would stop without my phone and my world would get small fast haha.
     
    Last edited: Jul 30, 2020
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  5. Mimaki

    Mimaki Member

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    Sounds like a good lifestyle! Im focusing on paying down house/mortgage before stacking anything major, not sure if its the smartest move
     
  6. TreasureHunter

    TreasureHunter Well-Known Member

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    Split it into multiple large portions. You can still keep a bucket load of it on your daily expenses cards (yes, at the banks). Normally you can have 2-3 cards.
     
  7. TreasureHunter

    TreasureHunter Well-Known Member

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    I also think silver should occupy a smaller portion of your portfolio. But I'd add more to cash, because it's liquid and transforming gold into cash can become very difficult at times.
     
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  8. 66rounds

    66rounds Well-Known Member Silver Stacker

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    I am now 80:20 gold and cash, no silver :)
     
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  9. TreasureHunter

    TreasureHunter Well-Known Member

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    Sounds like a good plan. Who knows where we'll be this time next year. Prolly 4,000 $ gold at this pace :D
     
  10. Jason1

    Jason1 Well-Known Member

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    My favorite thing about cash is the old coin bucket, amazing how much change you can collect. And with these new atms that count change, so easy to pump them full of change and then just cash it out. I tend to get a few grand out at the end of the year with out even trying.

    I can go weeks even months with out using my card, saves a killing on bank fees
     
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  11. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Should have some silver. If inflation is going to happen, the upside for silver is much more than gold at this moment. It's like gold can rise 50% to $3000, but silver could be upwards of $60 by then, a 150% appreciation at the minimum. The key is whether there will be a final round of deflation before inflation happens?
     
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  12. 66rounds

    66rounds Well-Known Member Silver Stacker

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    All out because I flipped mine, will dive back in via unallocated if we get a retracement.
     
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  13. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Just sold off the remainder of my PAAS. Still holding onto SLV. Mining stock is more risky.
     
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  14. ermat

    ermat Member

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    Jim Rickards this morning is predicting $15,000 gold by 2025.
     
  15. TreasureHunter

    TreasureHunter Well-Known Member

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    What did Rickards drink this morning?
     
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  16. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    The dollar wont last until 2025. It's in its death throes now.
    Its actively being abandoned by other super powers more now than ever and even some banana republic's dont want it. Just a matter of time before it breathes its last breath.
    Theres no point in keeping cash as it loses value and selling gold is the easiest thing in the world!
     
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  17. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    Rickards needs to lay off the pain pills.
     
  18. JulieW

    JulieW Well-Known Member Silver Stacker

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    A rave from Facebook :

    I do not support a cashless society!!!!

    HERES WHAT NO CASH ACTUALLY MEANS

    A cashless society means no cash. Zero. It doesn’t mean mostly cashless and you can still use a ‘wee bit of cash here & there’. Cashless means fully digital, fully traceable, fully controlled. I think those who support a cashless society aren’t fully aware of what they are asking for. A cashless society means:

    * If you are struggling with your mortgage on a particular month, you can’t do an odd job to get you through.

    * Your child can’t go & help the local farmer to earn a bit of summer cash.

    * No more cash slipped into the hands of a child as a good luck charm or from their grandparent when going on holidays.

    * No more money in birthday cards.

    * No more piggy banks for your child to collect pocket money & to learn about the value of earning.

    * No more cash for a rainy day fund or for that something special you have been putting $20 a week away for.

    * No more fivers on the side because your wages barely cover the bills or put food on the table.

    * No more charity collections.

    * No more selling bits & pieces from your home that you no longer want/need for a bit of cash in return.

    * No more cash gifts from relatives or loved ones.

    What a cashless society does guarantee:

    * Banks have full control of every single penny you own.

    * Every transaction you make is recorded.

    * All your movements & actions are traceable.

    * Access to your money can be blocked at the click of a button when/if banks need ‘clarification’ from you which will take about 3 weeks, a thousand questions answered & five thousand passwords.

    * You will have no choice but to declare & be taxed on every dollar in your possession.

    * The government WILL decide what you can & cannot purchase.

    * If your transactions are deemed in any way questionable, by those who create the questions, your money will be frozen, ‘for your own good’.

    I could write lists for 5 days & still not finish explaining how utterly awful a cashless society would be, for everyone. Even for the goody two shoes who wouldn’t dream of not declaring $500.

    Forget about cash being dirty. Stop being so easily led. Cash has been around for a very, very, very long time & it gives you control over how you trade with the world. It gives you independence.

    I heard a story where a man supposedly contracted Covid because of a $20 note he had handled. There is the same chance of Covid being on a card as being on cash. If you cannot see how utterly ridiculous this assumption is then there is little hope.

    If you are a customer, pay with cash. If you are a shop owner, remove those ridiculous signs that ask people to pay by card. Cash is a legal tender, it is our right to pay with cash. Banks are making it increasingly difficult to lodge cash & that has nothing to do with a virus, nor has this ‘dirty money’ trend.

    Please open your eyes. Please stop believing everything you are being told. Almost every single topic in today’s world is tainted with corruption & hidden agendas. Please stop telling me & others like me that we are what’s wrong with the world when you hail the most corrupt members of society as your heroes.

    Politics & greed is what is wrong with the world; not those who are trying to alert you to the reality in which you are blindly floating along whilst being immobilised by irrational fear. Fear created to keep you doing & believing in exactly what you are complacently doing.

    Pay with cash & please say no to a cashless society while you still have the choice.

    Copy and Paste - and keep sharing!​
     
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  19. madaw1

    madaw1 Well-Known Member

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  20. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    Which actual superpowers are abandoning it? You've made that up.

    Australia (lol)? No.

    France? No.

    Germany? No.

    Japan? Definitely not.

    The UK? Nope.

    India? Nah.

    Brazil? Not likely!!

    China? Down by 3.4% in the last 12 months. hardly what you'd call actively abandoning it. :p

    There must be some superpowers absent then. What about Russia? No idea. They probably don't share that info.

    Screen Shot 2020-08-18 at 12.12.34 pm.png
     
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