RE:Gold is up Bitcoin down
Dixiedee wrote: Well we finally know for sure Bitcoin is NOT DIGITAL GOLD
and these idiots that said it was we should never trust or listen to again
during inflation like we have now gold is up
doing political instability gold is up
Bitcoin is down so let's forget about this made out of nothing pretend currency and embrace the only true currency which is Gold
Exactly. Gold is the ultimate currency and it keeps all other currencies in balance especially during times of inflation and uncertain times in the world. Gold has stood the test of time. That is why most intelligent countries hold a certain percentage of gold relative to the size of their economy because it is a great store of wealth for the country.
The same goes for individuals. Everyone should have some exposure to the gold sector in their portfolio especially right now. Gold will be trading north of $2000 an ounce very soon and continue to climb over the coming years. I think it will hit a high of somewhere between $5000 and $10000 and I based that on simple inflation numbers over the years. Our fiat currencies have been greatly devalued over time. For instance in Canada a new house in 1980 was perhaps $50,000 and now due to inflation a new house is more than $500,000 or much more in the larger cities. So that is a ten fold increase in just over 40 years. Gold hit a high of around $800 an ounce in 1980 so sometime in the next few years it could possibly hit a high of $8000 an ounce just based on inflation numbers.
Right now we have the perfect storm brewing with this conflict in Ukraine. Putin has been steadily buying gold in huge amounts for more than ten years. He has been preparing for this conflict for a very long time. He knows most fiat currencies become worthless over time but not gold. Russia always produces a tremendous amount of oil and it too will soar perhaps into the hundreds. There will be a lot of crazy things happen in world markets over the coming days, weeks and months. The war in the Ukraine will be the trigger that sends gold soaring. As I write this oil just broke above $100 and gold is up around $1940 an ounce. Both of these commodities will continue much higher.