"Federal Reserve needs to cut USD in half over 14 years"
- Thread starter cgtrader
- Start date
I would love another bubble, I don't care about the future generation. They are doomed anyway because of global warming, pollution, peak oil and religion
The man said 10% gold 90% cash. Hardly a portfolio destroyer.
I guess you are thinking in terms of a small account retail trader. However, even with no leverage at all, a wealthy individual's portfolio of 10M with a 10% investment in gold in the face of a 50% drop will lose 500k, a considerable sum of money that is becoming harder and harder to earn and save in present economic environment.
I think the worse danger of all is that they are becoming part of a virtual reality, getting detached from the real world. The new religion is the computer and google. If it is not in google, then it does not exist. That is the new emerging most dangerous doctrine of all times. Much worse than the logicism doctrine in Europe in the early 1900s that if something cannot be expressed mathematically, then it does not exist.
No moron, you have it backwards......
They are doomed because of the climate change movement, cap & tax and the destruction of religion. These movements all have the same end goal in mind and it is the dismantling of capitalism and the US in it's current and historical form.
Unfortunately that isn't what you're taught in the US university system though. Instead, you're taught that up is down, black is white, right is wrong, etc.
I dont know why you would think precious metals would drop so much in value. Even if they did, they still buy what they would at the higher value as precious metals (gold/silver) generally buy what they have always bought. For instance...2500 years ago 150 shekels of silver would buy you a horse. Today...that amount of silver STILL would buy you a horse. So whatever you buy gold or silver for today, will still buy you whatever it would if all currencies collapsed, or if all currencies suddenly made gold go down to 50 bucks per oz.