Widespread BANK FAILURES Are Coming! What Asset Will Protect you?
Banks have been caught over and over stealing money from clients. This is an absolute fact.
Most recently, CBC’s Go Public has brought forth the truth that those working for the bank, specifically work in the interest of the bank. The financial planners have been acting against the interest of the clients, in order to sell what they are told.
“'Sell to them or you will lose your job': Call centre employees for big banks reveal upsell pressures”
http://www.cbc.ca/news/business/banks-sales-tactics-call-centres-go-public-1.4030981
Face the Music
We need to manage our own money and for 90% of individuals, paper assets are the only options. “Fully diversified” they say. I would reply “Not even close”.
In the industry you may see a portfolio like this:
But the truth is that this is 100% paper. So what should we invest in? Buy property? Oil?
True diversification is required. Depending on the current conditions will decide what to accumulate at that given time. Today we will discuss precious metals.
(Stay tuned for future articles for other assets to hold)
Precious Metals
Gold and silver give us security. They give us piece of mind. Every portfolio should have precious metals in it. There are no exceptions.
The trouble is that many people who buy precious metals do not diversify outside of gold and silver. Expand your vision!
Pros of Physical Precious Metals
Gold and Silver have been money for thousands of years
Precious metals will always have SOME value
Precious metals are globally universal and recognized
No need for electricity or financial markets to exchange it
Gold and silver have performed well historically in times of inflation
Precious Metals Stocks
Physical and paper metals are completely different. Understand that paper metals trade on exchanges are subject to volatility, and can be turned off by governments, hackers, or widespread outages.
Physical precious metals are under your protection. They can be passed down from generation to generation. They will never lose their true value.
The price may fluctuate on the exchanges but that’s not gold or silver. That’s the U.S. dollar.
The currency destined to collapse.
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I would add the Cryptos to your list. Sure it is not a safe bet like the PMs but it is still a possibility to tip ones toes into. Do not go all in and just buy some...
Agreed.
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I have a BBC philosophy. Bullion, Bitcoin, Cash in that order. ;)
That's more diversified than 98% of people. They will hold exclusively paper.
Thanks David. I've followed your work for several years. It has helped me make wise decisions.
Keep up the good fight fellow Canuck!
Cheers. :)
Great to have you here!
Thanks @themoneygps for your insight. Methinks that everyone should own Gold and Silver. It's just not prudent to have all your eggs in one basket. You know what they say,"A Bird In Hand Is Better Than Two In The Bush".
Completely agree. Have some of everything. Some will perform better than others but you'll feel safer.
Bingo.
This is why I have always stated that you should invest in just one thing and spread your savings around as much as possible. Most refuse to do this.
I think if there is an EMP we all have much bigger problems than not being able to use our crypto currencies. I for one am diversifying into physical PM, cryptos and keeping cash on hand as insurance. Prepare for the worst, hope for the best:}
This is why we need to get out of the major cities and be self sufficient. Most are just waiting to be slaughtered.
What population do you consider a major city? My city has a population of about 1.5 million, very spread out. I have been trying to talk my husband into buying an acreage outside of our city limit but we haven't found anything yet, not sure now if we will have enough time so I am working on being as prepared and protected as possible...your thoughts?
Depends on the area. If you're in a densely populated environment, it's going to be a mess. Depends where you live but what we in Toronto would consider "cottage country", so perhaps 1-2 hours north of the city is reasonable for most places I would think.
Even 1/3 acre could be enough for most people. Check out growingyourgreens on youtube. I vouch for John.
The further you get out the better obviously but we need to make compromises that's for sure.
Thanks for your input. I live in Calgary in the south end suburbs, hopefully far enough out .
You're welcome. Just keep preparing. Keep it up
Buy gold and silver. Get into some ethereum.
Ethereum seems to be much bigger potential than Bitcoin.
One of the brightest reports I read so far. To complete your article it would be very interesting for your audience to know how much one should invest into PM - (10-15% of a portfolio?) - and if there are other PMs you recommend to hold... - Platinum, etc.?
Depends how many different assets you hold. If you have 10 or so types of assets, perhaps 10% might be reasonable.
Platinum and palladium are in the same category for me. They are precious metals but they were not money. So they are second tier. I'd say 10% of the precious metals total at most.
I just read a tip that zinc could be heading up! ;)
Great post @themoneygps
All metals will. But industrial metals rise differently than precious metals.
I never thought of it with that answer. That pretty much explains the silver stagnation.
It kind of needs to be undervalued to continue being used everywhere. Could see the new $1000 iphone hit triple that otherwise. LoL
It's true. The price is clearly being manipulated. I believe they can keep it up for longer too.
nice, thanks for sharing
You're welcome.