Peter Schiff can literally go suck his own dick

Many whales are '09/'10 neets, i don't see mr. goldberg buying their bags

Paladium is almost never talked about yet it is never mentioned.
Check it out for yourself. Never even heard of this thing until I researched this asset class.
People who bought equities in 2009 (Assuming they managed to avoid the preceding two years of losses) are never going to touch gold/silver.
LIterally never.

To put it in perspective:
1. The US got most of its oil from the middle east
2. Every 10 years, the whole Middle East minus Iran tried to invade Israel, and would refuse to sell oil to America when they did
3. Then suddenly good ol' reliable Iran fell to an ISIS-like theocratic government and they refused to sell oil to the US too
4. The population was exploding all over the world everywhere and it looked like we were all gonna die of resource exhaustion pretty soon
5. Meanwhile, international flights were taken over by hijackers multiple times a year
6. Domestic terrorist groups in the USA and elsewhere were bombing stuff multiple times every month
7. Violent crime rates in the USA and elsewhere had been steadily rising for the last decade and some places like NYC were in a state of near-anarchy

So yeah a lot of people bought gold in the late 70s

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Honestly I see your answer as being really plausible, because gold is literally the ultimate speculative asset. At least bitcoin or wire transfers can keep up with the 21st century. I don't see myself luggin around 20 kilos of gold to open a bank account in Zurich anytime soon...

Psychology must have been a big part of the gold bubble.

For a while I was invested in palladium via Stillwater Mining Company (SWC). They got bought out which netted me a nice profit and I haven't really paid attention to palladium since then. In your opinion, what is the current value proposition for platinum/palladium?

My concern is this: the chief use of palladium is in catalytic converters (a part of gasoline-powered cars that reduces emissions). If most people will be driving electric cars in ~20 years, and if palladium will no longer be in demand for industrial use, why would I want to invest in palladium right now?

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I wouldn't worry about Paladium anymore. I performed well for you. You profited. Move on.
Platinum i know nothing about.
We live in a new economy. One that is currently a hybrid between a digital world and a dying industrial one. We will see performances in some companies surpass what we'd expect, while some staples of the economy that fail to adapt will lag.

2019 may or may not be a recession year. It's irrelevant. Pick for yourself, use your head and don't ever buy into something that has been spoonfed to you (by media/friends/god).

Buffet had the benefit of seeing returns regardless of outcomes, so he did was what illogical at the time, and he held with blind faith, which turned out to be the most logical thing to do (hindsight).
Is buying gold/silver a shitty idea? Maybe, but ultimately it's at all time lows, and the past 50 years of 'wisdom from experience' tells us that equities perform better than anything else... but I really don't know if that means the next 50 will look like the last 50, or we're in for another recession.

Nobody seems ready for digital world yet, it's surprisingly true. People with capital on tv make it seem like they're ready, but i'm guessing they only see opportunity.
I wonder what the 'real' people in the economy think?
What do they think of Machine Learning, automation, IOT..
What do you believe?

I agree that Peter Schiff is a bad man.

I agree that there seems to be some denial in the market regarding the future, e.g. people still invest in Verizon or Comcast as a "safe" investment even though 5G is poised to wipe out their entire business models.

Personally I'm pretty deeply invested in bitcoin, and the rest is in safe-ish equity investments. There will be a bitcoin bubble like the late 70s gold bubble at some point so that's what I'm waiting for.

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>some places like NYC were in a state of near-anarchy
There are a lot of places right now where a white/asian man who values his life should not go and thats for major cities too. One of the reasons I'm not pumping money in Vanguard funds and am buying crypto instead. Even with a replaceable birth rate US markets won't boom forever, the people who are replacing the existing ones won't be able to successfully compete with Asia.

You guys are dumb as fuck and don’t understand the purpose of having gold on your portfolio. It is to RETAIN its buying power, so the fact that it’s flat after being adjusted for inflation is its intended purpose. That’s why it’s stupid thinking you’re going to get rich off of this shit. It’s literally for rich dudes to throw 2% of their net worth in so they can have enough money to hang out before they kill themselves if everything else goes to shit

then hold bonds

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Retain buying power! Great! So now I can watch all my friends get rich off equities while I retain the same buying power I had in my 20's..
Not saying now isn't a good time to buy, just that historically it's been terrible and ANY argument predicated on the history of Gold/Silver prices needs to get thrown out of the conversation.
Opportunity cost of capital isn't a fucking meme though lad.

For investors, you don't use Gold in this kind of timeframe. Let me teach you how to use gold:

If the S&P500 crashes, sell everything and put it all into Gold. Then wait until the S&P500 recovers (gets back to the price before the crash, or stabilizes at a new level) and sell all your gold and put it back into S&P.

Being rich is literally that easy.

Right wing websites convinced my grandpa to put all of his money into gold around 2011 now grandma doesn't have money for a retirement home

Don't buy gold
Vanguard sp index fund

WOW
SO YOU'RE SAYING ALL WE HAVE TO DO IS ACT WITH PERFECT TIMING ON A CONSISTENT BASIS THROUGHOUT OUR LIVES???

ez.

His point was the purpose isn't for getting rich dumb fuck. It's meant as an emergency store for when your stupid overvalued market crashes and your worthless Monopoly mutt notes become even more worthless

He works for the establishment

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Come on man, don't exaggerate. I'm saying you have to catch it first, just catch it after it's obvious. Look at gold, it kept going up way after 2008 was obvious.

>he bought an overpriced shiny rock he was told by others is valuable

Caveman tier.

Why is it using the '1980s CPI formula'? This doesn't make sense. The cpi formula never changed.

That is retarded.
Let's say you're an investor at home with a million bucks and you move from equities to gold, you do so by purchasing mining corporations.
Nobody is retarded enough to actually OWN the gold with their equity investment money, so oftentimes they just 'line' their portfolios with gold, and refrain from owning the radioactive mining stocks which have burned investors for the last 40 years.
Gold is a shitty, shitty, shitty.. shitty investment.
Peter Schiff once mentioned that fucking stupid website where you buy gold and you can send it to people electronically etc... that is fucking useless.
I have heard over and over again that people think Bitcoin is better than gold for the next decade for the sole reason that it is easier to use than gold.
Think about that.
Gold doesn't hold value. It burns opportunity.
In your scenario, holding gold in 2008 would be intelligent... yet to see any movement in it's price you'd have to miss out on the greatest equity run in the last 60 years, the 2009-2017 bullrun.

The CPI formula changes constantly.
I literally worked on changing the formula so that Australia and Canada's inflation rates could remain semi-stable from 2015-2018.

Economists that actually know their shit have caught on and use 1980 dollars to value gold against assets.

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yes goyim, just give us your worthless btc for these pieces of paper that say you own gold.

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You will probably make it

pic taken before high fructose corn syrup and the low fat diet push