The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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"if we're in for a collapse of the economic system as we know it and we all wind up in a soup kitchen queue, who gets the gruel first? Those with a fistful of bitcoins to their name or those with gold glinting in their hand? I'll leave that with you - sasa."
Neither: it is It is always the guy with the gun.
Yes everyone saw a crash coming Feb/march. Very few see a massive one now and things are already so low - some far lower than even the lows of march so not much else to go down to. I must say I was surprised things didn't drop a bit more this morning on lockdown news but I certainly am not selling my holdings at this time. As Peter lynch once said more money is lost anticipating a crash rather than waiting for one to come and sitting through it. I guess depends on your time frame though.
BTB, I think the companies and industries that are badly impacted by the covid has already been marked down and hasn't got up much so I fail to see where the next big crash or panic will come from covid wise. On the other hand, I think you are about to miss out on a massive PM rally if Biden wins the house as well as senate. It means the passage of $2.5tr stimulus which would send gold over $2000. I think you may have made a mistake.
Agree that fiat is being debased steadily, ROCKON but crypto being a better beneficiary than gold?
I don't think so; it's been the immutable unit of exchange for 6,000 years or more and has always maintained its buying power over the long term.
Crypto, on the other hand, has been around for five minutes in comparison; is man made and prone to subterfuge accordingly, quite apart from the risk of losing your password / the internet being disrupted to part you from usage and if the 'millennials' favour it over gold, that's because they don't have any experience of life / rarely any sense of history, etc., unfortunately.
Put another way, if we're in for a collapse of the economic system as we know it and we all wind up in a soup kitchen queue, who gets the gruel first? Those with a fistful of bitcoins to their name or those with gold glinting in their hand? I'll leave that with you - sasa.
So now that we've had a lockdown announcement what will tomorrow bring?
The million dollar question!
ErFreh, my profits are.....which I've taken. Now playing with the house's money with cash on the sidelines to BTFD. Watch! Although you'd be better advised to ACT. Come back in a month (when neither I, nor the markets, look so high).
Will someone please pass the popcorn?
GLA.
I don't own any Crypto, but I keep hearing that it's outside the system - how can this be, because if the internet goes down where does this leave holders ?
The Great Re-set is upon us.
FIAT is loosing ground to crypto, that is a fact sadly and gold too for that matter seen as a place of safe haven has been replaced by crypto, the millenniums' prefer it to the older generation.
Are you high or what
I've been selling half of certain stocks (FRES, PAAS, BRWM, BERI, GPM & Chesapeake) to lock-in profits & pare-back my exposure.
I predict that the next three weeks will see a repeat of March. Remember what happened then:-
Gold -10%
Silver -40% (albeit briefly)
Mining stocks varied (obviously) but some lost 60% in three weeks.
They'll come back (& then some) once the stimulus is announced, but having been through it once in March (& predicted it but done nothing), this time I'm predicting it & doing something.
This is the beginning of the end. Fiat currencies cannot survive such large-scale debasement while the only thing that gives them any real value at all (the economic output of their host nations) is going to be completely destroyed for the next 6 months. There's no coming back from that.
Our politicians have warned us that a (Project) "Dark Winter" is coming. The NWO is now called "The Great Reset". People can call these conspiracy theories if they want. I call them conspiracies (not theories). The Great Reset isn't even hidden anymore: it's in plain sight for anyone who cares to take the time & see what's coming:-
www.weforum.org/great-reset
Earlier this week, the WEF (yes, the same WEF who described the CV as "a rare but narrow window of OPPORTUNITY to reflect, re-imagine & reset our world") tweeted that "by 2030 you will own nothing and like it". I kid you not. Look it up. These people are going to take & take until we push back.
Great Depression 2.0. That sound you can hear in the distance is the NWO jack boots marching in (Operation) Lockstep.
GLA. Things are about to go off the scale.
Judging by the red today you may well have called it.
Is this the start of a major move? Do I sell out and risk getting burned?
The March crash was vicious but for me the silver rally really bounced it back hard - would similar happen again?
I doubt any government unless you are a very lefty one like the Welsh government will have any appetite for a national lockdown like March so we will soldier on.... The curve of this wave doesn't appear to be the same as last one so I am guessing we will be limping on so no big sharp drops would be my call.
In any case. PMs are safe havens....
JMax: agreed. Even once I'm done profit-taking, I will still be overweight in the sector. History (& Voltaire) tells us that this only ends one way.
I foresaw the collapse in March, yet chose to do nothing, & whilst anyone who was invested in the sector back then is now sitting pretty, I could really have magnified my gains had I backed my instincts, sold-out in Jan / Feb & then BTFD.
So....the plan is to reduce my exposure & build a war chest to BTFD. If I'm wrong, then I'll be making less money than I would have: I can live with that. If I'm right, I'll have banked profits & will be buying back the same companies at a substantially discounted rate before they go to the moon (for reasons I know you fully comprehend).
Three months max, I reckon. Let's face it, back in Q1, the Fed barely let the market tank for 3 weeks! Either way, be it at a higher or lower price than today's valuation, I'll be buying back in. I suspect the carnage starts by mid-November.
GLA
BTB,
You have raised some valid points. But the link below is why I'm staying in PMs
https://www.nationaldebtclock.co.uk/
Frequent visitors to this board will recall I have previously stated my belief in there being a "March-esque correction" in global stock markets before the end of the year. With that in mind, over recent weeks I have been taking profits from my best performing miners, recouping my original investment & only leaving the profits invested.
Well, over recent weeks, events have only strengthened this belief. It seems the northern hemisphere is on the verge of another extended lockdown throughout the
Winter & into Spring. To anyone who says that governments would be mad to do such a thing, I don't disagree. However, there is an Agenda (21) at play here & I am now absolutely convinced it is coming regardless.
Consequently, I am accelerating the sale of my holdings & am looking to unload approx 50% of my position & sit on the side-lines in cash. Don't get me wrong....Miners are still the place to be: I am a huge believer in the sector (which makes up 60%+ of my portfolio) but I just see it (& everything else) getting clobbered in the near term. I foresaw the March collapse but stayed invested. This time I'm backing my instincts.
I'll be a buyer again once the market has fallen 30% (or more). See you on the other side.
GLA.