Gold is Wealth

[Tye]

Gold has been around for decades . My logic as to why it is wealth is the longer something has been around , the value increases . It applies to gold . 

[Roy]

And the Rolling Stones 😃

[Notafront4adragon]

Coal has been around for decades. My logic..... is flawed.

[foundanant]

More like "gold has been considered wealth for thousands of years"

[5huggy]

34 minutes ago, foundanant said:

More like "gold has been considered wealth for thousands of years"

Quite right and NEVER will go to ZERO!

unlike ALL "fiat" currencies to date!

and looks like a few more will SOON! IMHO!

[Pete]

Gold or Oil ?

Just because gold is trading high today doesn't guarantee wealth into the future as the 10 year chart below shows.

A financial friend of mine ( was a senior manager in a London bank ) before he died told me he was investing heavily ( via his pension ) in Brent crude oil.
That was more than 10 years ago.
His logic is that the amount of accessible oil in the world would decline or at least become more expensive to produce.
The demand would continue to rise so investing in oil was a "no brainer".
Wonder what he would say today were he still alive ?

 

 

 

[Minimalist]

5 hours ago, Tye said:

Gold has been around for decades . My logic as to why it is wealth is the longer something has been around , the value increases . It applies to gold . 

The first homosapiens originated from Mesopotamia - hundreds of thousands of years ago. The silver shekel was used to trade. Gold/Silver will never let us down. Fiat always will.

[HawkHybrid]

58 minutes ago, Minimalist said:

The first homosapiens originated from Mesopotamia - hundreds of thousands of years ago. The silver shekel was used to trade. Gold/Silver will never let us down. Fiat always will.

 

the mortal asked the deity: what can I do, I'm a mere mortal?

the deity replied: live life to the fullest of it's value, for heroes

are made from mortal origins.

 

similar to all items and life itself, fiat currency will fail at some

point. but there is a time and a place for everything, you just

need sufficient understanding to put things in their place(in

space and in time)

the world has been going fiat currency for almost 50 years now.

it is unlikely to last the 6000 years already put in by gold. but

neither am I likely last 6000 years. having a limited lifespan

shouldn't stop me from striving to accomplish certain things

within that lifespan. I just need to recognise and work with what I

have.

 

HH

[Roy]

Correct.

 

[cravethatcoin]

One thing I have learned over the years is that it's best to own everything. I get very concerned when I see people who are 100% in any single asset. I like to put percentages into different assets to cover all basis.

I'm currently 8% in gold and it is my favourite investment. The reason I don't go above 10% is because gold doesn't have a use. It is valued based on perception and that perception can change in the future.

6% in silver. Great because it has a a huge industrial use (a good counter to golds lack of use), the negatives are that it's bulky, less liquid than gold and has a highly manipulated price with big premiums.

3% in cryptocurrencies (mostly Bitcoin) just in case crypto becomes the asset of choice in the future. I see it as a lottery ticket, either it'll turn out to be a great investment or it will become completely worthless and I am comfortable with the latter. Risk vs reward is there.

 

[MancunianStacker]

I can tell you what Gold&Silver isn’t! It isn’t debt:

https://www.iif.com/Publications/ID/3839/April-2020-Global-Debt-Monitor-COVID-19-Lights-a-Fuse
 

No counter party, physical asset!

When the debt can’t be repaid it will get cancelled (one way or another).