My Reasons Why I Own These Assets Over Stocks and Money in the Bank.
Back in 2006 I read a book entitled, "Crash Proof" by Peter Schiff. This book changed my attitude towards investing forever. So I began to take a portion of my paycheck and bought Gold and Silver. Since I was a nurse at the time it was not much but it was enough to make me feel comfortable.
During this time I saw people all around me lose fortunes in the subprime crisis in Florida. It was a tragic time. I was working on a psychiatric unit in Tampa where many of our patients were just depressed over losing investments, homes and jobs.
Then the economy and stock market took another dive in September 2008 when Lehman Brothers crashed and burned. My Silver and Gold took a short term hit but I was confident in a rebound especially after the Fed decided to use QE and gimmick programs like Cash for Clunkers to reignite the economy.
During this time I moved back to Rochester, NY where with the help of my family we bought a beautiful century old home that was in foreclosure for a mere $19,500. It was an awesome house! We remodeled the whole house and I had very low overhead for a few years.
During this time Gold and Silver continued to rise. It was exciting for me since I knew I had made a great decision to invest in precious metals. Then I decided to leave the United States and moved to Panama. I rented the house out for 2 years before selling it for a tidy profit in 2014. I don't like being a landlord!
Here in Panama I handled the marketing for a well known metals investment company. It was 2011 and the metals were on fire. We did over $20 Million in sales that year. Then for no apparent reason Gold and Silver entered a bear market. This bear market lasted until 2016.
I sold a good deal of my bullion in 2014. This money was used to help finance our marketing company. We still have plenty of Silver and some Gold. As far as precious metals we feel that we have enough.
In 2012 I had my first introduction to Bitcoin. My business partner at the time suggested we take some capital and buy a bunch at $11. I was still clueless about Bitcoin and decided to not do it. IDIOT! I had another opportunity in 2014 as I took profits from my home sale and bought a few BTC.
Chart Comparing Gold vs. Bitcoin as Money.
Like many of my fellow newbies I bought into hype and was bitten by FOMO. I invested everything into AuroraCoin. That did not work out to well! I sold when I was down 80% and bought DarkCoin (now Dash). Well that one plunged as well and boom my money was vaporized. So I decided to stay away from Crypto-Currencies since I was not capable of making good trading decisions.
Then in 2015 a friend of mine bought me a position in Bitclub when BTC was around $250. I signed up a few people and quickly made a few BTC which rose nicely in the following months. The spark was lit once again.
After a few meetings with Bitcoin pioneers and listening to many videos on the subject of crypto-currencies I knew I was going to be part of this movement for the long term. I personally prefer AltCoins over Bitcoin. Some might scream heresy but I enjoy the excitement of the market. Some days my trading is up multiple BTC other days I am down. The best part is that I get to make the decisions when to buy, sell or hold.
I don't know what is going to happen in the coming months but my guess is that the world will be moving more and more to digital currencies. This bodes well for those of us who are already well versed in the subject.
More Reasons to Own Gold, Silver and Crypto-Currencies.
If my story has not convinced you to own these assets maybe the current state of the world might. We are in tenuous times. Whenever the world goes to war Gold and Silver are the best assets to own. They protect your wealth as nations squander their wealth on weapons of war.
The financial system is in a precarious position. We are seeing negative interest rates popping up all over the world. This does not bode well for the saver. Gold and Silver are great options to protect your wealth but Crypto-Currencies like Dash can help you earn money on that wealth. Did you know you can buy 1000 Dash, store them in a Dash Node and earn 1% interest monthly? What bank will pay you 12% annually. Not to mention the possibility that the value of Dash will increase over time.
Great Interview of Jeff Berwick on the Current State of the Financial System.
If You Do Not Take Control of Your Investments You are at the Mercy of the Bankers and Bureaucrats.
For many years we have been taught to let someone else handle our investments. It is time for you and I to take responsibility for our future. Do not rely on government programs to help you in retirement. If you are a believer in the stock market that is great and good luck to you. Personally I am 100% in Gold, Silver bullion and Crypto-Currencies. There is nothing that will change that.