AUTHOR: cjaghblb on 6/27/2024 FIRST: Jonathan Clements on 6/28/2024 | RECENT: David Powell on 6/29/2024
Comments
I will both agree with the author of the article and Chris Roessler's analysis. I own gold and silver and would not be without it BUT why I bought it and why I now hold it have changed. I bought it when I was really without much background in investing convinced the world was falling apart and the dollar was DOOMED! Thank goodness I continued to study and learn. Gold is NOT an investment IMO. It is a straight up insurance policy to the failings of all fiat currencies. I hold a good amount portfolio-wise but haven't bought in maybe 10 years as I have decided its an asset to just be tucked away never to be used and to be passed to my heirs. Used only in case of emergency. Right now, I suspect that gold will pull back for a while if Trump's economic success is realized. I would prefer it that way. If gold takes off in price, its more of an indication of the failing value of the dollar than of its own value increasing. I call it the barometer to the value of the dollar. I will be very happy to see it slowly rise (in line with inflation, imagine that!) as it means the economy is ok and a high gold price will mean economic pain IMO. The only caveat to this is if gold somehow returns as a neutral reserve asset and the price must be revalued to be effective here. This is a long shot but Luke Groman makes an interesting argument for it on the May 8th edition of the Palisades Gold Radio podcast. Worth a listen to hear what some in the investment industry are thinking.
Point #1, interesting choosing 1987. Were the warnings you mention on market over-valuation before the crash of 1987 or after? I tend to agree with your statement but wonder if the warnings were before or after the crash....maybe both? I have seen this post 2008 and continue to hear it from people I truly respect as critical thinkers but I now start to roll my eyes listening to the market being 200% over-valued and we have yet to regress to the mean...yada yada yada. Now that I have posted this note, I have just confirmed that a market crash is now guaranteed to happen....I have that effect! :)
I have shifted to regional banks myself, I have found one that REALLY treats both me and my money well. Not publicly traded mind you. Research has also shown me that I have better protections through brokerage accounts (yes arguments against each of these positions, banks and brokerages, can be made, I choose to diversify through a number of banks as well as brokerage accounts). Circling back to using Veribanc, their report cards spell out the health and solvency of the banks. I was a life long USAA member, I was never in the belief I would leave but their report card shifted from green to yellow a while back and the service level was falling off noticeably. I am no longer a member. They may be just fine but when I can find banks without solvency concerns, why would I not choose that. I think you might be surprised what you'll learn researching the banks. I know I was.
Comments
I will both agree with the author of the article and Chris Roessler's analysis. I own gold and silver and would not be without it BUT why I bought it and why I now hold it have changed. I bought it when I was really without much background in investing convinced the world was falling apart and the dollar was DOOMED! Thank goodness I continued to study and learn. Gold is NOT an investment IMO. It is a straight up insurance policy to the failings of all fiat currencies. I hold a good amount portfolio-wise but haven't bought in maybe 10 years as I have decided its an asset to just be tucked away never to be used and to be passed to my heirs. Used only in case of emergency. Right now, I suspect that gold will pull back for a while if Trump's economic success is realized. I would prefer it that way. If gold takes off in price, its more of an indication of the failing value of the dollar than of its own value increasing. I call it the barometer to the value of the dollar. I will be very happy to see it slowly rise (in line with inflation, imagine that!) as it means the economy is ok and a high gold price will mean economic pain IMO. The only caveat to this is if gold somehow returns as a neutral reserve asset and the price must be revalued to be effective here. This is a long shot but Luke Groman makes an interesting argument for it on the May 8th edition of the Palisades Gold Radio podcast. Worth a listen to hear what some in the investment industry are thinking.
Post: Go for the Gold?
Link to comment from May 19, 2025
Point #1, interesting choosing 1987. Were the warnings you mention on market over-valuation before the crash of 1987 or after? I tend to agree with your statement but wonder if the warnings were before or after the crash....maybe both? I have seen this post 2008 and continue to hear it from people I truly respect as critical thinkers but I now start to roll my eyes listening to the market being 200% over-valued and we have yet to regress to the mean...yada yada yada. Now that I have posted this note, I have just confirmed that a market crash is now guaranteed to happen....I have that effect! :)
Post: Sharing Lessons
Link to comment from December 23, 2024
I have shifted to regional banks myself, I have found one that REALLY treats both me and my money well. Not publicly traded mind you. Research has also shown me that I have better protections through brokerage accounts (yes arguments against each of these positions, banks and brokerages, can be made, I choose to diversify through a number of banks as well as brokerage accounts). Circling back to using Veribanc, their report cards spell out the health and solvency of the banks. I was a life long USAA member, I was never in the belief I would leave but their report card shifted from green to yellow a while back and the service level was falling off noticeably. I am no longer a member. They may be just fine but when I can find banks without solvency concerns, why would I not choose that. I think you might be surprised what you'll learn researching the banks. I know I was.
Post: Due Diligence on Banks
Link to comment from June 28, 2024