1. Intro
If you're looking for a long article about why you need to buy gold and precious metals or start investing in Bitcoin and cryptocurrency, you will not find it here. I'm just going to tell you what you need to hear, without the waffle. You’re welcome.
2. Money Printing and Inflation
If you haven't already, you need to start holding some of your hard-earned fiat currency savings in precious metals and commodities as well as non-fiat alternatives like Bitcoin. The good news is, it is not too late to start. Neither gold nor Bitcoin is at their all-time highs. This is because the USD will still rise before its final collapse. [See: Dollar Milkshake Theory]
The only reason you need to do the above is the fact that the fiat system will not make it. It’s not a matter of "if", but a matter of "when". If you really want to understand why it is inevitable, you can digest the work of Ray Dalio, Peter Schiff, Jim Rogers and countless other financial experts who can explain it far better than I can. If you want the short version, you can just watch this short history of reserve currencies and their eventual downfall:
If the reserve currency collapses and you are not diversified into non-fiat assets, you will be in big trouble. Just look at Venezuela, Turkey and now Sri Lanka as just some recent examples. You may have cash in the bank but you can't access it, or you can't use it, whatever you want to buy will be double, triple the price you think you should pay. Whatever it is, it will be bad news for you if you are not prepared.
3. Gold To The Moon? (I Hope Not!)
If you buy gold [and precious metals] and what to see the price go to the moon, then you are in the wrong mindset. Gold will not appreciate like a Tesla or Apple stock [yet]. And frankly, I don't want to see that happen (but at some point, that day will come). If the gold price is shooting up, that means we are already in deep trouble. The fact that it is not, is why I say, "Its not too late".
You buy gold and precious metals not to trade or sell it. It is the passport to bring your stored savings to the new reserve system when it arrives. I don't know what the new system will look like. No one does. Will it be a Central Bank Digital Currency? Will its Bitcoin? Will it be a centralised digital currency managed by the IMF? I don't know, but it will be something along these lines.
Whatever that something is, if you can't use it to buy and sell gold, it won't work. So that is why you store your saved income in gold to transition into this new system when it happens. It may be a year, 2 years, 5 years, 10 years? But it will happen. My guess is sooner rather than later.
Key Point: Gold is not something you buy low and sell high. It's your passport into the new system. So store away what you want to bring into the new system, it will be different for each person depending on your risk profile and net worth.
3. Bitcoin and Cryptocurrency
For the same reason in point 2 above, you need to hold some BTC and possibly other cryptocurrencies. Bitcoin functions exactly like physical gold. But it is a lot easier to store and transfer. By that same argument, it is also easier to misplace and lose. So you need to get familiar with how to store and manage Bitcoin and cryptocurrencies.
I recommend using a cold wallet to store your crypto assets. A "cold" wallet means its not connected to any exchange and only you have access to the private keys. The best one I found is Ledger Wallet. Will explain the how's and why's in future articles. These may be hard to buy sometimes as crypto accounts a growing exponentially. Do not buy these of Amazon or eBay. Only buy directly from the manufacturer.
You can get one [better two] from here: https://shop.ledger.com/
In terms of models, I use the Ledger Nano X with a Ledger Nano S as a backup. You don’t need to get two, but it just saves you time in case you lose one (i.e. the time it takes to buy another to replace a lost one). The company recently launched the Ledger Nana S Plus which I would recommend for beginners starting now. I probably need to write another review article on these cold wallets at some point.
The main reasons to buy Bitcoin is:
Passport. It will function as the same "passport" like gold to transition your wealth into the new system or it may be the alternative deregulated version in the future. Who knows?
Learn. So you can learn how to manage crypto assets. It is not hard but you just need to be familiar with it. Start moving a few crypto dollars around and you will be up to speed very quickly. Whatever the new system of the future is, it will be very much digital and on the blockchain. So get started to at least be familiar with managing assets safely on blockchain.
Growth. Unlike physical gold, which has well established systems of trade, Bitcoin is still in its early days despite the progress already. When mass adoption occurs, and it is already occurring, you could find massive appreciation of your asset.
The main reason to buy other secondary cryptocurrencies is for transactions and DeFi (decentralised finance). The newer cryptocurrencies like Ethereal and even newer (and faster) chains like Solana, Cardano and Luna are designed for real world use. This presents many opportunities for ordinary citizen entrepreneurs like us. This is a topic for future articles. Please follow if you are interested.
Key Point: Bitcoin is your digital version of gold. Use it to store wealth. But the entire blockchain and cryptocurrency market has a wealth of opportunities [and also risks]. Most definitely, the future economy will run on Blockchain technology.
4. Conclusion
1. Hold some of your fiat savings in Gold and precious metals.
2. Hold some of your fiat savings in Bitcoin
3. Learn, experiment, grow by transacting, investing in cryptocurrencies.
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