Many of you are only on this website only because of bitcoin or some other altcoin; and many of you don't like precious metals. But Id like to argue that both are highly necessary for insurance in case of a dollar collapse. I'm not saying there will be one. I'm just saying it won't hurt to own PMs for an emergency. If anyone is following the news in Venezuela, you might have heard that while they are eating zoo animals to stay alive, a ounce of silver can buy you 6 months worth of food. At less than $20 for an ounce, that's a pretty good deal to have around just in case.
Some say its heavy and takes space. Some say it can be confiscated. Some say its just a commodity. Those are all BS excuses not to own a few ounces. I am by far no where near rich and I can't afford a boat load of precious metals, but having a couple ounces can prove it might save your life.
So lets argue. A ounce of gold fits very nicely in your pocket. Its been used for over 4,000 years and has always been the back bone of every economy. You can hide a few ounces of silver pretty much ANYWHERE.
Confiscation? DIDNT HAPPEN! There was an executive order that stated it was illegal to hoard. All citizens were required to turn them into their local banks in exchange for $20. But if you never took them in, they didnt know. In fact, how did they know you had them in the first place? Do you think they had the resources to check every home in America riding on steam trains, model Ts and freaking horses? NOPE! Bury your treasure like a pirate.
And if youre going to use the argument that the government will come to your home, well then I can use the argument that the government will shut down the internet, taking all cryptos with it.
Commodity? Go look at a commodity chart. Gold is less than 10% . No argument here.
So own BOTH cryptos and PMS