"You never let a serious crisis go to waste. And what I mean by that it's an opportunity to do things you think you could not do before." - Rahm Emanuel

submitted by muellermeierschulz from self.quotes

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[–]useless_aether 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (6 children)

coronavirus is such a crisis

[–]danuker 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (5 children)

Any ideas? I'm thinking of buying crypto. Is gold better? Silver?

[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

you could trade coronavirus stocks if you want insane risk amd insane reward. gold might be good if the market stays in panic.

[–]useless_aether 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (3 children)

i like real estate. even if it is just a parking spot or a woodlot. i don't trust crypto, because it depends on the internet, it is threatened by the government (eg in china it is used as a weapon by the ccp) and hackers. even electricity is not always a given. i like silver more than gold, but it depends how much money we are talking about. maybe a bit of both. also a bit of foreign currency can't hurt. i went with chf mostly and some eur.

i remember about the rothschilds, how they (used to?) keep one third of their wealth in real estate, one third in gold and one third in cash.. they diversify.

[–]danuker 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (2 children)

Funny how things that merely exist and do nothing (gold, and other commodities) might just get you a better ROI than companies supposedly doing work.

[–]useless_aether 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

i don't understand gold at all. it's scarce, but it's good for nothing, okay, electronics, but we don't need it to live a happy life, all it does well is resists corrosion. silver is more useful.

[–]danuker 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

It is useful as money because of its scarcity, chemical stability (does not corrode easily), compactness, fungibility, divisibility (albeit less so than cash).

Suppose you own $100k and want to keep it outside the banking system, and any other paper assets like ETFs, because governments and banks tend to give you the sour end of the deal during crises.

Gold worth $100k weighs 65.4 troy ounces (2 kg). Silver weighs 6812.9 tr oz (212 kg). What's harder to hide and carry around?

Still, this could be a temporary situation. Gold is not 100x more scarce physically, which might mean either silver is undervalued, or gold is overvalued right now.