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Curtis Reed

Hyperinflation is coming...

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10 hours ago, Curtis Reed said:

Buy gold or silver in any form... bullion, minted coins, junk coins, jewelry, sterling.... Krugerrands are more expensive with high premiums but they are more desirable to buyers. I don’t sell my silver so I buy whatever is the best deal. There is no wrong answer!  Just buy and stack physical gold or silver:

I started in 2010 when Ron Paul opened my eyes on what is real money  There is a big difference between money and currency.

 

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80 more troy oz on the way.

Also, a lot of people I talk to about gold/silver question it as an investment, and I agree since it is artificially suppressed to prop up the weak dollar. But we don’t buy and stack for money making. We buy for insurance and to turn paper fiat money into REAL money.  If the dollar hyperinflates, you won’t be broke. 

Gold and silver have been money since Jesus walked the earth.

Like Curtis said.  There is no wrong decision.  Yes you will pay insane premiums right now but put your stored cash into something that is going to hold value.  It doesn't have to be gold and silver, right now it can be just about anything.  Personally I would not be in a hurry to get rid of real estate, yes it will pull back just like the stock market but at least it will be worth something as opposed to fiat US Dollars which are going to go to the value of the paper they are printed on.  Look at ammo, It is going for double what it was a year ago...another great store of value :)

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14 hours ago, ctafoya said:

I'm tempted to sell my house and buy a 5th wheel and just see how the rest of the year plays out. 

My hunting partner and his wife are doing exactly that.

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The premium on silver is steep, plus the storage issue. Gold (in 1 toz coins) is not horrible at 6-8% above spot.

Also, if you are an American and live in USA, I suggest American Gold Eagles or Buffalos in 1 toz size.  Just my humble opinion.

 

Eddie

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On 6/10/2021 at 10:08 AM, Curtis Reed said:

https://www.google.com/amp/s/amp.cnn.com/cnn/2021/06/10/economy/may-consumer-price-inflation/index.html

Get silver while it’s cheap and available. Won’t be for long trust me. 

Good advice.  Even though it's bounced higher it is still a bargain. It's going MUCH higher in the not-too-distant future

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Since houses/realestate have been thrown into the mix, Do I take money out of my IRA to pay off the 36K I owe on my house or do I just finish out my 7 years left making payments?

I know there are lots of questions to ask/answer in the scenario but I really want to be just done with my house payments and have that secured!

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7 minutes ago, Non-Typical Solutions said:

Since houses/realestate have been thrown into the mix, Do I take money out of my IRA to pay off the 36K I owe on my house or do I just finish out my 7 years left making payments?

I know there are lots of questions to ask/answer in the scenario but I really want to be just done with my house payments and have that secured!

I’d ride that mortgage out.  The way I look at it, any of my current low interest debt (2.8-3.7%) is getting paid off for me by inflation.  I’m making 3-5% on my debt right now and I’m gonna take any cash I can come up with and reinvest it.  Now is a GREAT time to have fixed interest debt.  

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37 minutes ago, yotebuster said:

I’d ride that mortgage out.  The way I look at it, any of my current low interest debt (2.8-3.7%) is getting paid off for me by inflation.  I’m making 3-5% on my debt right now and I’m gonna take any cash I can come up with and reinvest it.  Now is a GREAT time to have fixed interest debt.  

The only positive for me if the dollar significantly inflates, is the super great deal I get on paying off debt.  I borrowed a dollar when it was worth a lot more than it is now. 

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3 hours ago, Non-Typical Solutions said:

Since houses/realestate have been thrown into the mix, Do I take money out of my IRA to pay off the 36K I owe on my house or do I just finish out my 7 years left making payments?

I know there are lots of questions to ask/answer in the scenario but I really want to be just done with my house payments and have that secured!

It depends on a couple factors…. 


1- what will your tax rate be if you take the distribution?  If you are in a high tax bracket it might be worth waiting a year or two to pull the money.  12% tax vs 35% tax…

2- what is it invested in?  If the holdings are bonds or other low growth investments then holding them doesn’t make sense.  If you are going to hold assets that outpace inflation then the numbers say you should hold them as they will outperform the cost of the mortgage over time

I get this question a lot from my clients, having a home paid off is great peace of mind, especially in moments like this

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Silver up $3.00 in 30 days, gold up $242. What's in your wallet?

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