Precious Metals
Image by Steve Bidmead from Pixabay
This is the follow up on my last post on Sustainable portfolio even the market is up or down
Precious Metals
The 4 core metals to focus on for the time being should be Platinum, Palladium, Gold, Silver (as we explore space this will change).
Dividing holdings between as many of these 4 that you have researched and like the most, (remember everything in your portfolio should have a purpose) and then remember to layer again and keep some close to you and some held by a trusted custodian in the country that you feel is best fit.
Avoid ETFs and other paper Gold/Silver, get the actual commodity.
Don't just hold one metal and don't hold it all in your house, because bank will seize it if it kept in deposit box, so keep some with trustworthy custodian.
When the economic crisis hit, for example in 1933 during the Great Depression, President Franklin Delano Roosevelt nationalized the gold holdings of U.S. citizens in 1933. He did not however “confiscate” gold. Instead, citizens were compensated for what they voluntarily turned over to the government. In a true confiscation, your assets are seized with no compensation. However,should a severe national crisis arise, it’s certainly possible the government wouldn’t be able to afford to pay investors the full value of their bullion. More about this you can find here
In the next post, I will share about Stocks,Treasury/Bond, FIAT and Real Estate as an asset class in your portfolio.
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I think if we consider long term then gold is the most reliable asset. Other forms of currency always have a risk associated that they might get devalued. Gold has maintained it's position as a valuable asset since thousands of year and will continue to do so for the next thousand years.
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I believe precious metals are going to be very important on the next economical crisis but also have some doubts and questions. Who will be able to exchange for example gold to something else to buy some milk for example. Because some economists says there will be hyperinflation and fiat money will worth nothing like it happened in Venezuela. People started swap goods like old days. Do you think it is logical to store some food to prepare for big crush scenario.
Hi @omertalhaozde, thanks for stopping by. If it would be another financial crisis only, the gold would be more valuable to purchase tangible asset like real estate and other assets to increase wealth and to stock up more other basic necessities like food and water just incase total financial collapse coming next. But if it would be total economic collapse, gold might be accepted as a bribe. It is wise to stock up basic necessities like food ,medical supplies and etc besides learning basic survival skill like farming for time like those. I think coffee and battery would be a good currency too.
Thank you for your kind answer @cryptokannon. Never thought about coffee and batteries.
Actually that coffee and batteries was an idea from a kind friend. Good day!