Lawrence SmileyParticipantJanuary 12, 2021 at 9:34 AMPost count: 2
Good morning Sean,
I have just learned that the USA/World might be going back to the GOLD STANDARD. In your opinion, what would this do to the USA Stock Market; and specifically what would happen to our portfolio? Yesterday, I liquidated my portfolio, including my SLV position.
What is your position on BITCOIN?
Thanks for your service. I have learned very much over the years!
Lawrence K Smiley
email@example.comSean HymanKeymasterJanuary 12, 2021 at 10:11 AMPost count: 5898
Yep, we’ve had many conversations about this on the forum. You can always search them out using the search field at the top of the forum. But, in short, I don’t believe we go back to a gold standard. Why? Central banks lose the control and ability to print money. I don’t ever seen them giving up what they’ce controlled for so long. So, while it wouldn’t hurt my feelings if we did return to a gold standard, for currency stability, purchasing power stability and for global confidence in our dollar to return…but I don’t see that day coming. The good news? We don’t have to figure that out though or be right on it to make money with our system. Values would be had/found under a gold standard and not under a gold standard.
Not sure why you liquidated your entire portfolio, especially before inquiring on the forum. Liquidating SLV, you’ll find likely cut you off from what could become our biggest % gain in our portfolio. I’d mentioned over and over again not to sell that one, even if up a lot.
Bitcoin and cryptos are crap. They were just invented a number of years ago. They’re just a unique string of numbers. They’re not “currencies” because no one’s really buying anything with them, materially and their price fluctuates too much to be taken seriously as a currency. For instance, if you’d used bitcoin as a currency yesterday, it would have cost you 20% more in your purchases of goods/services than it did the very day before. It’s in a bubble that will pop and unstable.DANNY ABARParticipantJanuary 12, 2021 at 10:31 AMPost count: 99
I don’t want to get political … but this network may be a great place to keep each other up to date with ongoing financial events that might affect our financial lives, outside of our Logical Investing portfolio.
Discussions about a new gold standard, or geopolitical events that might change our retirement planning, how our non US subscribers are seeing changes that we may not notice here in the US, or anything noteworthy.
Sean may prefer we go offline and use a network platform, as long as they remain in operation … I heard that thr Parlar app was restricted from Apple, Amazon and Google ???
firstname.lastname@example.orgSean HymanKeymasterJanuary 12, 2021 at 10:44 AMPost count: 5898
Parler was taken out of the Apple and Google app stores and Amazon shut them off from their website (being hosted on AWS).
The main thing about conversations here is how they relate to stocks, markets, the economy, etc. Keeping it “financial” mainly.Sean HymanKeymasterJanuary 12, 2021 at 10:44 AMPost count: 5898
The area I’m targeting is just below its $28 resistance at its 200-week moving average on its weekly chart.kenatechParticipantJanuary 12, 2021 at 12:19 PMPost count: 134
I’m saddened to hear that man who liquidated his entire portfolio over gold standard rumors and then asked about Bitcoin. I have recently been deluged with emails touting cryptocurrency get-rich-quick schemes. I hope he’s not taking out all his money to go all-in on Bitcoin and/or other fast money schemes. He might get lucky, but more likely will lose his shirt, and more, in a crypto bubble. Seems like he has not been paying much attention “over the years” he been a subscriber. Just finished reading the book of Proverbs, with all its advice against greedily trying to get rich quick, and how it usually ends badly. Like most of the rest of us, I’m sticking with your solid, Scripture-based advice.Sean HymanKeymasterJanuary 12, 2021 at 12:22 PMPost count: 5898
It’s best to ask questions first and act afterward. I do hope he’ll consider being in positions that are under the Buy At Or Under prices in the portfolio section of the newwsletter.
Yep, SLV is a very defensive position.gregory kerneyParticipantJanuary 12, 2021 at 1:04 PMPost count: 78
yes, ask first. i did just a day or two ago. glad i did!Sean HymanKeymasterJanuary 12, 2021 at 1:11 PMPost count: 5898
Yeah, always consult me first just because you’re paying for my experience, you might as well use it. There are article out there on most anything.John StewartParticipantJanuary 12, 2021 at 6:52 PMPost count: 27
@kenatech just finished Book of Proverbs—way to go!
Mashal, means “proverb” and is the first word in the book. Like Hebrew words, this word is itself a profundity and has the sense of taking control of life by properly applied wisdom, skillful reasoning, particularly by insightful comparisons. MUCH on finances and integrity.
יSean HymanModeratorJanuary 12, 2021 at 7:30 PMPost count: 3281
Yep, all kinds of stuff Christians violate in there like co-signing for others, seeking quick riches etc. Many have no idea all of that is in there.
They perish for a lack of knowledge, as the Bible puts it.BekkaParticipantJanuary 12, 2021 at 11:59 PMPost count: 318
Lawrence didn’t tell us why he liquidated. Just that he did. People have all sorts of reasons for liquidating. Best to ya, Lawrence!Sean HymanKeymasterJanuary 13, 2021 at 7:08 AMPost count: 5898
I just hope the liquidation wasn’t based off of an article he read or fear-based. Again, if you ever wonder about something…ask before making your decision. Once you have my thoughts on it, then you can still make whatever decision you want…but at least you have more info to work with and you’re tapping the market experience that you’re paying for.ThankfulParticipantJanuary 13, 2021 at 7:48 AMPost count: 315
Just last night in my Bible study we were going over Proverbs 27:12 “The prudent see danger and take refuge, but the simple keep going and pay the penalty.” Reminds me of our system. No comment on Lawrence and his situation, just in general. And once again look at how much Sean gives us. He’s in here answering questions on things way beyond the LI positions even when he tells us in advance he’s busy.
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