Hustle Tips: Why Own Just the Gold Chain? Own the Mining Company Too...
Why own just the gold chain? When you can own the mining company too...
Now that doesn't mean my silver cuban chain came directly from the mining company I bought stock in...But in theory I own the physical silver and a company that makes profit from mining silver. Its levels to this shit..
With our government devaluing our currency; by creating stimulus packages created from printing fiat currency that isn't back by anything of value (gold standard), has the risk of causing inflation...
When inflation increases, so does metal prices such as gold & silver.
Quick history lesson, in 1971 President Nixon took us off the gold standard.
Prior to this, we were on the gold standard, which meant every dollar in circulation was backed by the government's gold reserve.
Now it's backed by nothing, which makes it pretty much useless. We use it only because of the petro dollar, which made the world economy more convenient after the first world war.
Ok back to present time; August of 2020, Warren Buffett sold shares of his banking stocks & bought stocks in gold mining company, Barrick Gold (GOLD).
If you know Warren Buffett, you know he has always shitted on gold as an investment...If he's investing in something he's always been against..It must mean he sees some type of inflation and/or devaluation of the US dollar.
I don't know about y'all, but I emmulate my money moves, from people who are wealthy.
With That Said...
The investment play I'm making, is buying stocks in gold & silver mining companies, so I can buy that gold cuban chain also ;-) Right now I'm rocking the silver cuban haha.
Gold and silver is not created by man, its the universes' money/currency.
Investors have always diversified their portfolios by investing in gold & silver & using it as a safe haven when there is uncertainty with the economy.
With some investors concerned about inflation and economic uncertainty due to the global pandemic and US election, gold prices are at a historic high and is predicted to reached $3,000/oz in the next few years, along with silver prices increasing also.
While gold is at a higher value than silver, the demand for silver will increase in the future; due to the increased silver demand for industrial usage for technology development.
I will create a future blog post about The Investment Future of Silver.
You know the World Wide Hustle Brand is all about passive income & asset ownership.
Owning stocks and the physical metal of gold & silver is a good play for a diverse portfolio. Find a mining stock that pays dividend too...
You own stock (a piece of the company), earning passive income from the dividend & rocking your gold chain...You winning