Hivers,
Here in LeoFinance and in the Silvergoldstackers discord and hive group we hear the cheers about the gold and silver price increase. All people that already own the precious metal.
In brief :
- gold was 1000 USD per 31.1 gramm when I started buying and now we are at 2100 USD almost.
- silver was 20 USD when I started, went down to 12 USD and hits 28 USD now
But what about the rest of your investments?
The purchase power of your cash holdings will deteriorate soon as inflation will pick up.
You already see this isn the Dollar against the EUR _10% recently) but also EUR against other currencies.
The Quantitative Easing and extra money printing weakens the currency and enlarges the amount of money in a shrinking economy.
This is playing with fire! (source : wiki on QE)
Those with savings will be hurt - those with debts and a job might profit but life will get more expensive and a vicious circle could appear when government adds more "help".
You need quite some gold or silver to prevent this...
Example:
If you have 90 in cash and 10 in gold after the 100% increase of gold you have 110. This protects you against 10% inflation. This is for instance 4 times a little above 2% inflation. But the QE might give a lot higher inflation.
So although it helps and you are better of than those without gold or silver do not cheer to hard unless you have substantially more than 10% invested in gold and silver.
HAve fun
Goldrooster
Posted Using LeoFinance
Too soon for me to have it go up, I wasn't done buying! Hoping to buy for another couple of years but it's hard at these current prices, although I do enjoy the fact that I make more in my sleep than going to work but with that being said, I don't think we are going to the moon. Maybe it's wishful thinking but it went up way to fast for it to stay at the moment. 2020 is such a strange year I don't know what to think anymore. I agree inflation kicks in, it's going to be ruining a lot of people.
Great article! Thanks for sharing your thoughts.
Have a wonderful day, my friend @goldrooster, and take care 🥰🌺🤙
I have been collecting coins and stacking silver for more than 40 years. I do not intend to sell anything, unless in desperate need, but I hope that my future grandchildren will be very happy with their grandfather... :=)