You don't even know what you posted so ill refresh you: "You can go outside and shake your fist at the clouds. Good luck."
Actually, I remember that very well. Somehow, that would be of little solace to an investor facing a loss due to ineptitude or criminal activity. Your mileage, I guess, varies. Good luck.
Oh yeah I know, like the federal reserve printing off money and stealing from everyone purchasing power from their hard earned savings. At least we have an option where no one can print off cheap money now.
In other news Grayscale and Bitcoin hoarders continue to buy up all the supply of Bitcoin. Grayscale who already own 2% of all Bitcoin bought up 33% of all Bitcoin mined in the last 3 months. Now that the halving is in, if they continue to buy up that much they will be buying up over half the Bitcoin mined. https://news.bitcoin.com/grayscale-buys-33-of-all-bitcoin-mined-in-last-three-months/ Addresses with over 1 Bitcoin continue to rise, Addresses with over 1000 Bitcoin continue to rise. What happens when the supply runs completely dry and the demand hits all time highs as the price is surging? Bitcoin goes to 6 figures and eventually 7 figures, everything in between is just noise.
What’s a good low to no risk start for someone who is a self employed sole proprietor to start a retirement plan? I always thought it was a Roth IRA, but I was steered away from it a year ago by my bank. I guess interest rates are crap right no so the choices are limited , unless I want to get into things with a risk. Sent from my iPhone using Tapatalk
@Biggs @HomeoftheJets Can help you. Im mostly invested in Bitcoin, Gold, and Silver, I do have a large amount in my 401k but at this point I regret ever investing in it because its pretty much held hostage because inflation will devalue it if I leave it in stable, and if I put it into the stock market, it will lose value because its going down further.
Have you cons Have you considered that your bank steered you away from a Roth because they did not have a competitive Roth IRA product to sell you? Look at a broker like Fidelity.
Yeah, at the time I didn’t realize they all had their own rates. I will check that out. Sent from my iPhone using Tapatalk
I have no idea why your bank would steer you away from a Roth. I'm not a financial advisor, so I think your best bet is to set up a consultation with someone from Vanguard/Fidelity/Schwab/etc.
There's no guarantee we'll get inflation or stocks will go down. There are a lot of deflationary pressures (inequality, unemployment, debt, etc) and reasons why stocks can go up (publicly traded firms and rich investors are less hurt by the crisis, Fed wants stocks to go up, etc). Nobody knows what's going to happen, not even Powell himself.
Yes we do, its called Bitcoin. Well regardless, my money is essentially being held hostaged (my own fault, I gave them my money). If I could get it out I would put it all in Gold and Silver. If there is inflation, there will be rising Gold and Silver prices. Can care less what the stock market does then or the US dollar.
And if there's deflation, you're going to get hosed. And the worst part is that unlike with 401ks, if you get hosed, nobody's coming to bail you out.
IMO it would require a lot of deflation, Gold and Silver are still highly undervalued. In all honesty though I believe we are going to see trillion dollar bailouts all year long, and its going to be incredibly difficult for deflation to occur when that much money is being created. @Petrozza can you rename this topic "Bitcoin", the Mt. Gox event is history now and when I originally made this topic I didn't even know what the difference between Gox and Bitcoin was....
It would actually require very little deflation because metals don't provide investment income. And I'm not convinced the bailouts will produce much if any inflation (aside from asset inflation) because the primary beneficiaries are rich people who don't spend much of their assets. And if we do get inflation, the Fed is going to have to taper back, which means the end result could easily be deflation. Finally, Europe and Japan have been pumping their economies for decades, and they can't get any inflation even though that's what they want.
I disagree with this only because I believe metals are still severely undervalued, however if metals are at their appropriate value then deflation will bring them down like you state.
Hell, Bitcoin is safe against "printing" more money because it doesn't even need a printer to throw extra money into its system. Once again, other than shaking your fist at the sky where will you complain or investigate if your account is suddenly down two dollars, or twenty thousand dollars?
Don't you dare! The Mt.Gox fraud is a very real part of the Bitcoin experience. For Soxxx to want to sweep it under the rug as if it never happened is almost fraudulent by itself. https://cointelegraph.com/news/mt-g...-of-cryptos-collapse-a-long-fight-for-justice
