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A Central Bank Goes Bust

DerekJohnson
DerekJohnson Administrator, Swaye's Wigwam Posts: 68,559 Founders Club
in Tug Tavern
https://www.youtube.com/watch?v=GuddZfPFro4
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  • MikeDamone
    MikeDamone Member Posts: 37,781
    NOC
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  • Southerndawg
    Southerndawg Member, Swaye's Wigwam Posts: 8,347 Founders Club

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  • Fire_Marshall_Bill
    Fire_Marshall_Bill Member Posts: 25,688 Standard Supporter
    Buy gold and crypto!
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  • Sledog
    Sledog Member Posts: 37,893 Standard Supporter
    I'm more into silver. No crypto. If I can't hold it I can't spend it is my thing.
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  • Doogles
    Doogles Member, Swaye's Wigwam Posts: 12,731 Founders Club
    Sledog said:

    I'm more into silver. No crypto. If I can't hold it I can't spend it is my thing.

    "If I can't hold a newspaper, I can't read the news."

    Not making fun of you, it's definitey confusing.

    Also it's worth separating Bitcoin from crypto imo, if you decide to research it more.
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  • Sledog
    Sledog Member Posts: 37,893 Standard Supporter
    edited September 2022
    Doogles said:

    Sledog said:

    I'm more into silver. No crypto. If I can't hold it I can't spend it is my thing.

    "If I can't hold a newspaper, I can't read the news."

    Not making fun of you, it's definitey confusing.

    Also it's worth separating Bitcoin from crypto imo, if you decide to research it more.
    Yeah not a tech savvy guy as far as crypto is concerned but if the net "mysteriously" disappears just how does one redeem/spend crypto? I just think most people know what a minted precious metal coin is but not to savvy on crypto.

    I think lead will be even more valuable though.
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  • WestlinnDuck
    WestlinnDuck Member Posts: 17,658 Standard Supporter
    Doogles said:

    Sledog said:

    I'm more into silver. No crypto. If I can't hold it I can't spend it is my thing.

    "If I can't hold a newspaper, I can't read the news."

    Not making fun of you, it's definitey confusing.

    Also it's worth separating Bitcoin from crypto imo, if you decide to research it more.
    Trust. I can pay $9.99 a month for Pandora music. Any song I want. I don't own it like a record or CD or even a MP3 download. However, in the 1970s I used to buy at least two record albums a month for say $20.00 which is like $100 a month in today's dollars (why there is not much money in album sales or digital royalties and all the money is in touring). If Pandora tries to screw me, I'm out nothing. With crypto, I'm putting up big money with little regulation and I'm trusting the US government and offshore entities to honor their contracts with me. I'll pass.

    I don't have much choice about the government's risk to my investment accounts, but I do trust say Fidelity and KeyBank to honor their contracts with me. A gold or silver mutual fund is safe except for the government and the market risk of the price of gold or silver.
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