Quote:
Originally Posted by gregpark
Gold and silver are the only real money and have been for thousands of years. Every currency on the planet is counterfeit money because it's no longer based on anything tangible. I know it's hard for people to wrap their heads around this because the USD has been "real" money our whole adult lives. Before 1971 currencies were based on gold (and silver) and now we just create more dollars out of thin air to solve our problems (such as debt accrued). It's an unsustainable system...even according to both the head of the treasury and the Fed chairman. We're at the end of the fiat road, trust in the USD is evaporating rapidly around the world. Our US bonds are no longer desirable and our system relies on those loans. 100% of fiat currencies throughout history have eventually failed. Why would you think we're the exception?
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I am a practical person and I am interested in making USD profits.
If you expect USD or UST to crash, then put on a trade to profit from it.
I understand the view that gold is such a trade. The problem is that gold will eventually peak and go down, while those who hold the view you described will still presumably hold that view, so plenty of them will ride gold down -50%.
Again, I'm not anti-gold. I bought gold in portfolios back in 2019, and bought it again in portfolios in 2024. I think it has certain investment uses.