- Sliver tags:
_aioseop_keywords: Gold, Silver, Coins, Coin Dealer, Saving, Inflation, Bailout
I'm back from vacation feeling refreshed, relaxed, and ready to post. I was slowly burning out from work and blogging so I needed this vacation badly. We had a lot fun and I spent most of the time with my family, driving to all sorts of kid-fun places and doing some small "fix it" projects at home. I did step out a few times to have beers with the MarketDoctor and visit with, for the first time, his gold coin dealer.
Yes, yours truly bought shiny gold and silver coins for the first time in his life (I promptly buried them next to my shotgun and 2 year supply of plastic sealed toilet paper).
All joking aside, I decided to start saving in Gold and Silver. Yes, you read that correctly, I said saving. I'm not playing the Gold and Silver market by buying and selling these coins, I'm just transfering my paper money (USD) into Gold and Silver. Essentially I'm switching one asset for another shiny and hard one.
Yes, I know I won't be earning any interest on them but I will be maintaining my purchasing power. Right now if I park my savings in a bank account, I'll make maybe 2% interest. That would put me in a depreciation hole faster that shit sliding down a stick, if you believe that our true inflation rate is really between 10 and 12%.
If you ask me, maintaining purchasing power wins over a 2% interest bank account in a border hyper-inflationary economy any day.