Gold

[Dr.D]

So fearing inflation because of government spending I bought some gold coin. When the new administration came in I figured I had done the right thing for sure since I figured Biden would spend even more than Trump. That's hard to do but he sure is making a good go of it.

Gold has historically been a safe hedge against inflation and therefore goes up as the dollar devalues but this is not happening. How can this be? How can the Fed spend like it does and not devalue the dollar. Is this just a lag time before such happens? Anyways gold is down since the election and I would not have expected this.

Any financial wisdom out there?

[1K9]

Be patient. The coins I have are small denominations to use in the event panic strikes and legal tender goes to hell. Some junk silver is advisable for that too. Ammo has gone up more that gold. Right now, you are your best investment. You generate cash. How much in dividend products would you have to have to generate your income? Pay everything off and accumulate enough passive cash flow and you can stop working. Some folks want to die at work. Some folks have a knack for having people work for them. I never did. A little speculation sometimes pays off. One last thing, reduce spending.

My 2 cents.

[barbagris]

I think a lot of disillusioned "survivours" are indeed playing with cyrpto currencies.
I get hot and cold on the idea......... It's unregulated FEX trading and that can get messy.

[Tripps]

Crypto is the new gold. I started playing with it two months ago, I'm up 500%. But I'm real aggressive, maxing out margin account at all times. And it's with nominal or "extra" money, not my savings. If it went to zero it wouldn't hurt me. But my goal is a new bike in one year, with under $1000 invested, I'm actually well on my way.

[Tripps]

Bitcoin and Ethereum already had their big jumps, I'm messing with the penny stock ones, but sometimes they jump 50-100% in a day.

[Old N’ Grumpy]

Disagree. Ethereum has a long way to go. Will eventually surpass Bitcoin as it works in a very different way.

[barbagris]

Thing is that you really have to be on top of Crypto every day - some would say hour by hour. The problem CAN be cashing out of some of the smaller ones.

[Tripps]

I initially invested $650, I got an unexpected check from the insurance company, a reimbursement for something I paid out of pocket and forgot about, so it was found money. Yesterday everything dropped 15%, so I put another $150 in today, and it's on its way back up already.

[Dr.D]

I’m very leery of the Bitcoin types of assets. They actually could evaporate over night. Good luck.

[Tripps]

I agree, but like I said, $800 is basically beer money, if I lose it, I can live with that

[Dr.D]

I do understand play money.

[barbagris]

I call it beer money!

[Dr.D]

Gold is still down. I guess I was a fool for doing any financial thinking.

[barbagris]

I was doing some thinking today - I have a headache now.

[Tripps]

Flying high

[1K9]

Better sell before bigone gets half of it.

Biden to introduce historic tax increase on investment gains


ByWolf Daily
April 23, 2021

[Mighty Mouse]

I wish I had the balls to do it but alas, they went in the top dresser draw when I got married.

[Old N’ Grumpy]

Good thing the majority of mine is in a Roth IRA. Fuck you Biden!

[Dr.D]

Nothing breeds a revolution like increased taxation.

[Mexican]

so i can buy cheap gold now???

[Tripps]

Cheap is a very relative term.

[Tripps]

It's been a hell of a run for crypto, two weeks.

[Dr.D]

Balance of 0ver 6755 and only buying power of 2149 ????

[Tripps]

Margin balance is what I am holding long, on margin, I haven't figured out what percentage they let you borrow, somewhere around 90%, but it also changes depending on whether you're up or down. Margin balance is separate and not reflected in total balance.

[Mexican]

I wish i was smart enough to understand that shit,

[Old N’ Grumpy]

Nobody truly understands it. I tried to and it seems lately whatever I do the opposite happens. But I have been lucky overall and have done quite well. We will see this week when I buy a lot of crypto. But really Its just another form of gambling and 99% of people in the markets lose.

[Steel]

I was reading about XRP last night. A lot of people think it's about to take off.

[Mexican]

hope yu win!