Back in the day i had bought GLD ETF on the stock market, what i learned about that and crypto.

[Mikeoxenormous]

So back in the 1990s i bought some shares of the ETF GLD. GLD: Quote and summary for SPDR Gold Shares - MSN Money


At the time, i thought it would be a good way to buy more gold without the worry of transporting it to my house and possibly it could be lost. So i grabbed about 10,000 shares, and held onto it for about 1 year and while the price of gold went up, my share value didnt follow what the increase of the precious metals was. So i dug deeper into it, found out that GLD had to sell actual bars of gold that it was holding in reserve to back the price per 10 shares, to pay taxes at the end of the year. So actually over time GLD will either have to get more gold to cover the costs or GLD wont be worth the paper it is written on. I hold gold bars and coins, as he who has those in their possession have the actual assets , because if the economy tanks, GLD has the gold, you have again worthless paper.


Now lets look at crypto. There are bits out there in cyberspace that has a value attached to them, right now over $60,000. But again, who has the cash, if the economy crashes and those bits are lost in the web? Think about this shit....

What To Know About Cryptocurrency and Scams

Confused about cryptocurrencies, like bitcoin or Ether (associated with Ethereum)? You’re not alone.

www.consumer.ftc.gov

 

[Pavel Svinchnik]

Like you, I bought some GLD shares a few years ago but found that every month, they sold a bit of gold to cover costs. I had to enter all the sales data into my income tax forms each year. Not a lot of money, but an unexpected item. I've sold those shares and bought physical gold.

 

[DudleySmith]

Nothing is going to replace gold and other physical commodities, which is why banks all over the world still run their own assets as if there was a still a gold standard. I run my own finances that way, too. You should also keep some silver around to make small change with, or some other substitute, though; not many are going to take a kilo bar and be able to make change, you know.

 

[Pavel Svinchnik]

It is highly unlikely that I will ever have a kilo bar of gold but I do have some historical gold coins, like English sovereigns and French 20 franc coins. I also have some rolls of old, U.S. 90% silver coins for trading with the natives; Mercury dimes, standing Liberty quarters, etc.

 

[Mikeoxenormous]

It is highly unlikely that I will ever have a kilo bar of gold but I do have some historical gold coins, like English sovereigns and French 20 franc coins. I also have some rolls of old, U.S. 90% silver coins for trading with the natives; Mercury dimes, standing Liberty quarters, etc.

I have been buying up the sovereigns as they usually are a good price. Back when silver was 12 dollars an ounce, i bought 3 100 ounce bars, only because of the usage of silver in electronics, solar panels and the eventual rarity of the metal, compared to gold. Silver tarnishes, that means it will eventually go away, because you cant get tarnished silver back. It is a long term future event, but i think scientifically it will happen. Not in my lifetime, maybe the kids or grandkids..

 

[Dogmaphobe]

Back in the day?


Oh, man, I can still remember investing in buggy whip futures.