I hear you. If the crash is not so big that the wealthiest can save themselves, cash is king.

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I hear you. If the crash is not so big that the wealthiest can save themselves, cash is king.

Author: NedoftheHill (43960 Posts - Joined: Jun 29, 2011)

Posted at 12:07 am on Oct 10, 2024

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If the biggies can save themselves, like they did in 2008, then you are not talking about a survival situation. Granted, it might be nice for people to have some physical cash on hand...to diversify from digital cash, for short term situations.

Gold might pay more of a role in a true financial panic (with people jumping out of windows on Wall Street). We've had those before in this country, more than once.

As for me, I would never commit to one answer. Diversity is the key. You can't predict what will happen. Buy a little of everything, then see what happens. Based on my posts above, you might think I'm a big gold guy, but I know that if there is a financial panic, and the dollar goes to zero, I will lose most of my wealth. Most of my wealth is stored in digital dollars in my investment accounts.

This message has been edited 1 time(s).

Evil preaches tolerance until it is dominant, then it tries to silence good.

Replies to: "I hear you. If the crash is not so big that the wealthiest can save themselves, cash is king."

Man, the histrionics around here are pegged deeply into the red. - iairishcheeks - 7:39pm 10/9/24 (33) [View All]
- Yeah, all those people who study democracy for a living just don't know what they are talking about - Chris94 - 8:50pm 10/9/24
  - You don’t speak for all experts. [NT] [LINK] - Hensou - 9:01am 10/10/24
  - We live democracy while you try to figure it out. [NT] - BaronVonZemo - 8:17am 10/10/24
    - How do you study democracy for a living? [NT] - Hensou - 8:54am 10/10/24
      - Awesome. You sure know what you are talkiing about. [NT] - Chris94 - 10:29am 10/10/24
        So if Trump is elected you can’t make a living?. - Hensou - 10:44am 10/10/24
  - You get one vote. So does the addled crackhead down the street. - Hensou - 12:38am 10/10/24
  - I think you completely missed my point. - iairishcheeks - 9:46pm 10/9/24
    - What makes you think you know your point better than he does? He's the expert. [NT] - NedoftheHill - 10:35pm 10/9/24
      - Remember when he lectured me on medical issues during COVID? Liberalism Rule #8 Totally Differentism - BaronVonZemo - 8:23am 10/10/24
      - Right, what was I thinking. [NT] - iairishcheeks - 10:41pm 10/9/24
  - Ah, the "I'm an expert, trust me" argument from authority. - NedoftheHill - 8:55pm 10/9/24
    - Yeah, experts are all so silly. I think we should put our trust in the nation's morons. [NT] - Chris94 - 9:11pm 10/9/24
      - The science has changed! [NT] - Protagonist - 2:02am 10/10/24
      - And we'll let the self-proclaimed experts pick the experts to lead us. Why do you hate democracy? [NT] - NedoftheHill - 9:27pm 10/9/24
        “All opinions are equal!” Might as well be the dumbass MAGA slogan. - Chris94 - 10:00pm 10/9/24
        There are experts on both sides of every contentious issue. - iairishcheeks - 10:20pm 10/9/24
        “For every expert, there is an equal and opposite expert.”- Arthur C. Clarke [NT] - Iggle - 7:12am 10/10/24
        That's what I was trying to say. [NT] - iairishcheeks - 10:00pm 10/10/24
        
        ^^^ This. [LINK] [IMAGE] - NedoftheHill - 11:00pm 10/9/24
- The easy solution is for everyone to agree that Trump is lying about the 2020 election being stolen. [NT] - TyroneIrish - 8:08pm 10/9/24
- You do that on the gold market I guess...which is at insane highs. [NT] - NedoftheHill - 7:50pm 10/9/24
  - Gold has limited practical use in a survival scenario, why do we value it so? - iairishcheeks - 9:52pm 10/9/24
    - In a "survival scenario"? Depends, I guess. - NedoftheHill - 11:45pm 10/9/24
      - Basically, whatever people choose as their 10 items to go on Alone is what I was thinking. - iairishcheeks - 11:55pm 10/9/24
        I see two possible outcomes to a true situation of a "failed democracy." - NedoftheHill - 11:56pm 10/9/24
        I added some more in an edit, FYI. [NT] - iairishcheeks - 12:01am 10/10/24
        I hear you. If the crash is not so big that the wealthiest can save themselves, cash is king. - NedoftheHill - 12:07am 10/10/24
        Hmmm, hmmm, hmmm, hmmm... - iairishcheeks - 12:26am 10/10/24
        Stocks almost always better than gold. Importantly, gold is a diversifier, that is all. - NedoftheHill - 1:00am 10/10/24
        Side question: would you rather own an art collection or it's current value in gold? [NT] - iairishcheeks - 1:17am 10/10/24
        Both. Gold can be owned by many. Investment grade art is for the truly rich. - NedoftheHill - 8:57am 10/10/24
        
        I am going to start a company that makes solid gold survival gear, like water filters. [NT] - iairishcheeks - 1:09am 10/10/24