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A wise old man once said......

By Rigfennidh | The Hideout | 13 Oct 2020


A long time ago, a man I respected and admired for his no nonsense attitude about life gave me some simple advice.

 

'You need to buy an ounce of silver every week." His sage wisdom still rings in my ears even though he has long since left this world.

His reasoning was simple. The Dollar was good only as long as people had faith in the government's ability to pay its debts.

 

A person needed access to tangible things that could be used as money, should the situation arise. If you couldn't do that with some kind of tangible assets, you were at the mercy of the government.

 

A person obligated to the state is not a free person.

 

I followed his advice off and on for thirty years. I'm glad I did.

An article today on Investorplace.com validated that sage advice of my friend and mentor of so many years ago.

 

The article by Jeff Remsburg, entitled "Crypto Poised for a Breakout", makes the assertion that over 20% of the entire amount of currency ever created by this country was minted this year.

 

Think about it. In 244 years of existence the United States has printed a lot of money. Almost a quarter of it in 10 months. Remsburg adds "This is money we don't have". Its deficit spending and the government is spending more than it can produce. Living beyond your means never ends well.

 

Now, consider the socialist policies proposed by some of our representatives. Many have included with them a huge price tag and no plan to fund them other than "tax the rich". , it's a disaster waiting to happen.

 

Remsburg continues outlining the benefits of considering bitcoin and other cryptocurrencies as hedges. Like commodities and precious metals in the 20th century, should serve as safe places to put your earnings.

 

I'm no expert. My economics training comes from years of living my life day to day. It seems to be common sense but those in charge don't seem to be listening. So I will continue to buy silver and now, Cryptocoin.

 

Take it for what it is worth. It's my opinion.

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Rigfennidh
Rigfennidh

Just your average 50 something introverted Entrepreneur. I’ve owned several businesses and served in positions of community trust both elected and appointed. Now I trade crypto and run a successful apiary business.


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