Savvy Trades and Investments

[Mermelstein]

People were talking about the government losing fiscal restraint 50 years ago. If you had put money into gold and silver at that time, you would just now be getting back to even. Conversely, if you put the money in the market, you probably would have returned 100x, assuming you got any type of dividends at all.

That’s the underlying problem with metals. They don’t pay any type of yield. And then oh by the way if you want to buy anything you have to convert them back into dollars, because paying for stuff with gold is illegal.

People that think gold is going to $5k or $10k an ounce in the next few years are deluding themselves. And even if it did, you would have serious structural problems in society where having having food and guns would be more important than having gold.

Trying to predict the fall of empires is a fools game. Most of the gold bugs over the last 50 years are now 6 feet under and died bitter. They may be proven correct eventually, but who cares if you don’t live to see it.