Gold doesn't weigh much ($30,000 is just about ten coins) virtually nobody is going to travel abroad with several kilo bars in their duffel bag like this guy claims. Most gold and silver stackers are holding as a hedge in case fiat currencies depreciate rapidly or even collapse entirely, in which case the large amounts of cash this man says you should transport abroad doesn't sound like a good idea to me. As for buying houses etc, many people would prefer gold to crypto, particularly if everything begins to go haywire and crypto itself goes the way of fiat currencies.
Buying gold and silver is a fantastic hedge for inflation. No qualms about that. But as I said in the video, the only time it makes sense to keep a large amount of your wealth in gold is if you are living in one single location. If you are mobile or travel frequently, which many of our clients do, even taking ten coins attracts unwanted attention at airport security. As to your second point, I vehemently disagree. Historically, gold and silver barter was never used; and most developing countries with ravaging inflation would much rather have US dollars than buy a bullion coin. I'll make a separate video addressing that point.
@ShadowofAtlas People in Venezuela and other failing countries had the US dollar to fall back on because the dollar was still very strong. But the USA is nearly $40 trillion in debt and unable to pay back even the interest without increasing currency printing to insane levels. Plus the US dollar is rapidly losing its world reserve currency status (because it has weaponized sanctions). That is why central banks all around the world are rapidly stocking up on gold. As trust in the dollar begins to plummet it will become less attractive, even to failed states. Right now, the dollar is strong relative to other fiat currencies, but is still losing value because of inflation and money printing. There comes a point when other countries think enough is enough. Remember the powerful pound Sterling once had a similar status and that collapsed, they all do eventually.
I really appreciate your efforts! I need some advice: I have a SafePal wallet with USDT, and I have the seed phrase. (mistake turkey blossom warfare blade until bachelor fall squeeze today flee guitar). How should I go about transferring them to Binance?
in 1971 i brought a 10 dollar gold eagle for 55 dollars today. that coin if i need to sell i/ll get easy 1,250 dollars . thats why people buy gold and silver
That same $55 invested in the S&P for the last 50 years would be worth $3500 based on a conservative 8% return. That’s why people invest - to increase value, not store value
2:39 Ironic that you're in the Netherlands and are talking about KYC checks at 1k. In the Netherlands identification is only required when buying over 10k in gold.
Edit: actually I checked my receipt for last year buying silver rounds in Amsterdam, they asked for KYC. Maybe you know a place that didn't ask to photocopy your passport. I live in France where KYC is asked after EUR 1000 (just spent the holidays in Amsterdam). But even for EUR 10000 in Holland, that's ridiculously low.
@ShadowofAtlas Yes, indeed, but you can actually make it work with 10k as a random small time owner of gold. Just split up transactions into 3oz of gold each and you'd be fine.
@ShadowofAtlas Interesting. Do you mean the trick with the casino payout slip? Because that was extensively used over here in the Netherlands in the past by drugs cartels to launder money. But AFAIK, the government got wind of it and has made that not possible anymore, which is a good thing, but it came at the cost of privacy of everyone else. Barbershops, beauty studios and other types of service providing small businesses are known to be frequently used nowadays as a money laudering front. Those small type of business has a low upfront cost to set up, so launderers risk very little money and because they're service providers, they don't "leave physical evidence of industrial activities". That gives them a lot of administrative leeway to play with without triggering red flags at the accountants office... that leeway is (ab)used by the launderers to cook the books.
@@QoraxAudio Exactly, same thing happened in the U.S. where casinos are limited to paying out USD 10,000 without KYC checks in order to avoid structuring... which a lot of card counters hate, because it essentially forces them to give their ID, only for the casinos to back them off, and then ban them.
There are many UA-cam videos where people report that when trying to sell their gold the pawn shop owner locked the gold up in his safe. Only when they brought the documents that they had acquired the gold with taxed money could they sell the gold.
I really appreciate your efforts! Just a quick off-topic question: I have a SafePal wallet with USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). What's the best way to send them to Binance?
I've just made a video responding to some of your feedback. Thanks for your engagement, much appreciated!
Gold doesn't weigh much ($30,000 is just about ten coins) virtually nobody is going to travel abroad with several kilo bars in their duffel bag like this guy claims. Most gold and silver stackers are holding as a hedge in case fiat currencies depreciate rapidly or even collapse entirely, in which case the large amounts of cash this man says you should transport abroad doesn't sound like a good idea to me. As for buying houses etc, many people would prefer gold to crypto, particularly if everything begins to go haywire and crypto itself goes the way of fiat currencies.
Buying gold and silver is a fantastic hedge for inflation. No qualms about that. But as I said in the video, the only time it makes sense to keep a large amount of your wealth in gold is if you are living in one single location. If you are mobile or travel frequently, which many of our clients do, even taking ten coins attracts unwanted attention at airport security. As to your second point, I vehemently disagree. Historically, gold and silver barter was never used; and most developing countries with ravaging inflation would much rather have US dollars than buy a bullion coin. I'll make a separate video addressing that point.
@ShadowofAtlas People in Venezuela and other failing countries had the US dollar to fall back on because the dollar was still very strong. But the USA is nearly $40 trillion in debt and unable to pay back even the interest without increasing currency printing to insane levels. Plus the US dollar is rapidly losing its world reserve currency status (because it has weaponized sanctions). That is why central banks all around the world are rapidly stocking up on gold. As trust in the dollar begins to plummet it will become less attractive, even to failed states. Right now, the dollar is strong relative to other fiat currencies, but is still losing value because of inflation and money printing. There comes a point when other countries think enough is enough. Remember the powerful pound Sterling once had a similar status and that collapsed, they all do eventually.
@@aucourant9998 I just made a video specifically addressing the garbage myth on gold and silver used for barter. Enjoy
I really appreciate your efforts! I need some advice: I have a SafePal wallet with USDT, and I have the seed phrase. (mistake turkey blossom warfare blade until bachelor fall squeeze today flee guitar). How should I go about transferring them to Binance?
in 1971 i brought a 10 dollar gold eagle for 55 dollars today. that coin if i need to sell i/ll get easy 1,250 dollars . thats why people buy gold and silver
That same $55 invested in the S&P for the last 50 years would be worth $3500 based on a conservative 8% return. That’s why people invest - to increase value, not store value
Gold and Silver for wealthy people and BTC for plebs
How about using both? Everything has its purpose. Don't marry your investments.
2:39 Ironic that you're in the Netherlands and are talking about KYC checks at 1k.
In the Netherlands identification is only required when buying over 10k in gold.
Edit: actually I checked my receipt for last year buying silver rounds in Amsterdam, they asked for KYC. Maybe you know a place that didn't ask to photocopy your passport. I live in France where KYC is asked after EUR 1000 (just spent the holidays in Amsterdam). But even for EUR 10000 in Holland, that's ridiculously low.
@ShadowofAtlas Yes, indeed, but you can actually make it work with 10k as a random small time owner of gold.
Just split up transactions into 3oz of gold each and you'd be fine.
@@QoraxAudio I'll make a separate video addressing structuring (using gold or casinos) for anonymizing cash.
@ShadowofAtlas Interesting. Do you mean the trick with the casino payout slip?
Because that was extensively used over here in the Netherlands in the past by drugs cartels to launder money.
But AFAIK, the government got wind of it and has made that not possible anymore, which is a good thing, but it came at the cost of privacy of everyone else.
Barbershops, beauty studios and other types of service providing small businesses are known to be frequently used nowadays as a money laudering front.
Those small type of business has a low upfront cost to set up, so launderers risk very little money and because they're service providers, they don't "leave physical evidence of industrial activities".
That gives them a lot of administrative leeway to play with without triggering red flags at the accountants office... that leeway is (ab)used by the launderers to cook the books.
@@QoraxAudio Exactly, same thing happened in the U.S. where casinos are limited to paying out USD 10,000 without KYC checks in order to avoid structuring... which a lot of card counters hate, because it essentially forces them to give their ID, only for the casinos to back them off, and then ban them.
There are many UA-cam videos where people report that when trying to sell their gold the pawn shop owner locked the gold up in his safe. Only when they brought the documents that they had acquired the gold with taxed money could they sell the gold.
Gold makes the ugly beautiful. - Molière
I really appreciate your efforts! Just a quick off-topic question: I have a SafePal wallet with USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). What's the best way to send them to Binance?
No
Gold v silver is so so manipulated !
Banks have sold bills 20x over !
Simply they don’t have the supply they have supplied !
Manipulated until it isnt, during a financial collapse or a period of hyperinflation. Gold is money everything else is credit.
the good the bad and the ugly . they were not fighting over paper . it was all about gold@@bushkat1
Gold v silver is so so manipulated !
Banks have sold bills 20x over !
Simply they don’t have the supply they have supplied !