Quote:
Originally Posted by Phil9
This is either an elaborate troll job or one of the dumbest posts I've ever seen.
Eveything I stated is factual and can be proven with a little bit of googling. Please debunk my post and prove me wrong oh wise one. Maybe you don’t the biggest central banks of our world own tons (literally) of gold? Maybe you don’t know JP Morgan is the biggest holder of silver in the world? Maybe you don’t know China and Russia have been buying tons of gold every year since the 2008 crash?
Or is it that you think gold has no role in global currency system? Even tho it at least partially backed every dollar the US printed up until 1971? 50 years into a financial fiat currency system with no backing is extremely short period of time in the grand scheme of things. Anything can happen and it’s impossible to gauge what we’d turn to if faith in currencies start to erode. What you don’t realize is the world went off a gold system so the US didn’t lose its reserve currency status. We spent too frivolously and should have paid the price. Instead we changed the worldwide system to keep the US in power
I truly think people are very uniformed about what true money is, not the money that’s printed willy nilly by our government and backed by the ‘faith’ of the our government. It’s easier when the citizens are in the dark and just blindly call anyone interested in real money a quack. That is until one day the system starts cracking. Then it could be too late to exit. That’s the irony of insurance. No one wants it until they need it. Then it’s too expensive to get and they’ll likely never need it again. Gold is just that, insurance if our financial system were to fall apart. Again, I’ll state again that 100% of fiat currencies have failed in the past going back as long as you want. Timing the crash is nearly impossible to do. But if you factor a small % of your net worth to your insurance at all times you’ll be prepared if there’s a financial reset in your lifetime
Only point of this post is to educate since clearly most people don’t know much about the subject and naturally conclude ‘this guy and his theory must be a quack’. It’s quite an interesting topic that I wish more people would research. This will be my last post post on the subject, hope I didn’t derail too much. I also expect to get further flamed but maybe one person will read this and at least consider what I’m saying to be worthy offer research