Husband want to convert all savings into gold

[Anonymous]

He’s been listening to podcasts that talk about very bleak future for our economy: government prints trillions of $$ for stimulus. The money is not backed up by any gold reserves. It’s not going to be worth anything soon and we’ll enter an economic fallout.

All of this is kind if logical. It’s hard to argue with.

So he wants to move all our savings (401k, etc) into tangible assets like gold, real estate or other currencies.

What do you all think?

[Anonymous]

He is assuming gold continues to have value. Real estate makes sense to me. Gold never has.

[Anonymous]

They are not printing money, the government is borrowing money that is being put into the economy. The money that is not going back into the economy is all billions of tax breaks for the very very wealthy, they can only spend so much money on goods and services

[Anonymous]

You can put some money in gold if you like but I wouldn’t put all of it. If the US dollar collapses, we all are gonna have a lot more to worry about than the value of our savings.

[Anonymous]

Anonymous wrote:He is assuming gold continues to have value. Real estate makes sense to me. Gold never has.

Except real estate is priced in dollars, which her DH believes will collapse.

[Anonymous]

All of this is kind if logical. It’s hard to argue with.

This kind of talk has been around since the 1980s at least. The problem is timing the crash. The metals market can stay “undervalued” for a long time.

[Anonymous]

frankly he sounds like a "know it all" kinda guy who never gets anything right. i have seen enough of those people in my life.

[Anonymous]

This is a conspiracy theory that’s been going around for ages. I would have him step away from the podcasts.

[Anonymous]

TSLA is a better investment

[Anonymous]

Anonymous wrote:He’s been listening to podcasts that talk about very bleak future for our economy: government prints trillions of $$ for stimulus. The money is not backed up by any gold reserves. It’s not going to be worth anything soon and we’ll enter an economic fallout.

All of this is kind if logical. It’s hard to argue with.

So he wants to move all our savings (401k, etc) into tangible assets like gold, real estate or other currencies.

What do you all think?

If, as someone living in the US, the dollar becomes worthless, everything you listed will be effectively, if not actually, of zero economic value.

[Anonymous]

IMO, it sounds like he knows just enough to be dangerous. I think converting “all” of your savings into gold is nuts, particularly when to do it at this scale, what you are likely really talking about is converting it into unsecured claims against financial entities that may or may not actually be holding sufficient (or any) gold that could actually be delivered. Equities are a pretty good hedge against most inflationary scenarios.

That said: if you can afford it, IMO it is a no-brainer to have a small portion of your overall portfolio in physical gold that is actually in your possession. I don’t think you need that much of it to hedge against the kinds of risks your DH is concerned about, since so few people have any. Also it will likely ease his mind, and worst-case you have an interesting heirloom to pass down to the kids. This is a constructive step, compared to a mass movement into non-diversified paper gold clams of uncertain value, which seems to me just asking for a catastrophic blow up.

[Anonymous]

If the dollar collapses, what makes him think gold hold value? If the dollar collapses and takes the economy with it to the extent that gold is the only viable store of value, what makes him think that someone who has invested in ammunition (the next step for gold bugs), won't just take his gold.

Gold being a savior relies on things collapsing, but only to a certain extent- it seems absurd to me

[Anonymous]

Anonymous wrote:This is a conspiracy theory that’s been going around for ages. I would have him step away from the podcasts.

+1

[Anonymous]

Anonymous wrote:frankly he sounds like a "know it all" kinda guy who never gets anything right. i have seen enough of those people in my life.

+1

[Anonymous]

Anonymous wrote:If the dollar collapses, what makes him think gold hold value? If the dollar collapses and takes the economy with it to the extent that gold is the only viable store of value, what makes him think that someone who has invested in ammunition (the next step for gold bugs), won't just take his gold.

If the dollar collapses, gold and silver will be the only things that have value, because they’ll be the only thing anyone will take as payment for things you want (e.g., food).