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Thread: How imminent is imminent? ( advice needed)

  1. #1

    Default How imminent is imminent? ( advice needed)

    Guys really need some advice. Back in 08 I bought my physical PMs and on that front Im happy with what I hold. In the last year I have been building an escape pod which is in the eurozone, which unfortunately has taken a lot longer than I would have liked to complete. Unfortunately the quarantine has shut construction down for the next two weeks ( most likely to be extended) and am now left with a quantity of euros sitting in an account. Unsure whether to pull it, hold physical cash, buy more Gold or wait. In the good old days I would have asked Tall Tom for his excellent advice, but haven't seen him around these parts for years :-( So any constructive advice would be helpful. How unstable is the system? What would you do? Thanks in advance for any tips, advice.

    Regards

  2. #2

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    At this point, I wouldn't be buying anything. This shock is highly deflationary so prices for everything will be reset lower in the coming months.

    Physical cash is always good.

  3. #3

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    .. another old timer. Good to see you.

  4. #4

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    Quote Originally Posted by Atlas Shrugged View Post
    At this point, I wouldn't be buying anything. This shock is highly deflationary so prices for everything will be reset lower in the coming months.

    Physical cash is always good.
    Excellent Advice as Always Atlas.. I concur sir.
    x3

  5. #5

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    I would favor a balanced approach, holding physical USD, EUR, maybe CHF, gold & silver. I would hold them in roughly equal portions with the exception of your local currency, which I would hold 4x.

    In other words, half in your local currency & the other half distributed evenly across the other items.

    My second choice would be half in local cash & half in PM. The PM being 80% gold & 20% silver

    My third choice would be 80% local cash, with 10% gold & 10% silver.

    Having some of the gold in smaller denominations with low premium, like Sovereigns, might not be a bad idea.

    ...but that's just me Your expected needs may be different from mine.

    My expectation is that cash will be king until the day that it isn't, then gold will be king & silver will be change for gold that is too large in denomination to use effectively in common transactions. I have no idea when cash will cease to be king. It may be tomorrow. It may be after I am dead.

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