Time to convert dollars to fungible gold and silver. My family hedged into gold silver years ago so we’re sitting pretty and the people who derided folks like us as ‘gold bugs’ are wishing they’d listened when gold was around $300 an ounce and silver could be had for $3.50 an ounce.
So what do retirees do? They have spent a lifetime saving and building a portfolio for retirement. They count on those investments paying a small "dividend" to them each month and that is what they will live on during retirement.
So if they turn the whole or most of the portfolio into gold and silver, there will be no "dividend" each month. So what will they live off of? Trading the gold/silver for food, rent/mortgage, taxes will deplete the funds long before they are old enough to die.
I can tell you stories about the things we gave up all our lives while we watched our friends and neighbors all having them (fancy cars, bigger house, luxury boats, expensive vacations and clothes, and on and on) .... so that we could build a nice size retirement portfolio to live off of modestly in retirement and not be a burden on welfare or our kids. Now we face the government just taking it all. What kind of incentive to work hard and save will this leave the next generations?