5 ms·

So, what, should I withdraw my 401k and buy physical gold?

by soupfordummies 29d ago

overtone1000 29d ago
Uh oh, this is the comment chain where somebody is gonna say "fiat"
- mikewarot 29d ago
  Fiat money sure came in handy when 10% or more of the trees in my entire county were blow over toward the east. Long term, you're getting eaten by inflation, but when the power grid, and most cell sites are down, cash is still king. The real lesson I've learned is that a small generator consumes about 10 gallons of gasoline per day. There's no way to store enough of it to last through a total collapse, even if you could keep it from being stolen.
dgellow 29d ago
That's up to you, but if there is a crash it's very unlikely to be before a major hyperscaler decides to reduce or stop their infra expenditures (which isn't happening, like, quite the opposite). That's what I would personally see as the top signal, but it's pretty dumb to exit the whole market because of a possible crash at some point in the future, without anything you see as a catalyst. Also, gold is completely overrated, it's not at all a safe place where to put your money and you have no idea how it would correlate with an AI bubble burst
mikewarot 29d ago
Gold has dropped every time the US does something stupid with Iran, the opposite of conventional wisdom. I think that countries are having to sell their most liquid asset, their gold, in order to buy oil from sources outside the gulf. I'm not a financial planner, and my gut instincts have been wrong far too many times for me to give advice. I'm just noting the odd thing going on right now.
SaucyWrong 29d ago
This isn’t financial advice, but Defense contractors seem to be a solid hold in a winter economy with this insane and hawkish “war department”. This administration’s primary means of distraction from issues at home appears to be “start a conflict somewhere”. We’ve dropped so much ordinance in the Middle East at this point, buy whoever has the multi year contracts to replenish the stockpile. This is a sarcastic answer, but I’m only half joking.
runarberg 26d ago
No. You most definitely should not. Do not under any circumstances try to beat capitalists at their own game. The rules are always against you, and you will loose. The only winning move is not to play. Go to your local instrument library and grab your self a guitar. If your 401k vanishes, at least you know how to play the guitar and can entertain your self through the collapse of the system.

So, what, should I withdraw my 401k and buy physical gold?

overtone1000 29d ago

Uh oh, this is the comment chain where somebody is gonna say "fiat"

mikewarot 29d ago
Fiat money sure came in handy when 10% or more of the trees in my entire county were blow over toward the east. Long term, you're getting eaten by inflation, but when the power grid, and most cell sites are down, cash is still king. The real lesson I've learned is that a small generator consumes about 10 gallons of gasoline per day. There's no way to store enough of it to last through a total collapse, even if you could keep it from being stolen.

dgellow 29d ago

That's up to you, but if there is a crash it's very unlikely to be before a major hyperscaler decides to reduce or stop their infra expenditures (which isn't happening, like, quite the opposite). That's what I would personally see as the top signal, but it's pretty dumb to exit the whole market because of a possible crash at some point in the future, without anything you see as a catalyst. Also, gold is completely overrated, it's not at all a safe place where to put your money and you have no idea how it would correlate with an AI bubble burst

mikewarot 29d ago

Gold has dropped every time the US does something stupid with Iran, the opposite of conventional wisdom. I think that countries are having to sell their most liquid asset, their gold, in order to buy oil from sources outside the gulf. I'm not a financial planner, and my gut instincts have been wrong far too many times for me to give advice. I'm just noting the odd thing going on right now.

SaucyWrong 29d ago

This isn’t financial advice, but Defense contractors seem to be a solid hold in a winter economy with this insane and hawkish “war department”. This administration’s primary means of distraction from issues at home appears to be “start a conflict somewhere”. We’ve dropped so much ordinance in the Middle East at this point, buy whoever has the multi year contracts to replenish the stockpile. This is a sarcastic answer, but I’m only half joking.

runarberg 26d ago

No. You most definitely should not. Do not under any circumstances try to beat capitalists at their own game. The rules are always against you, and you will loose. The only winning move is not to play. Go to your local instrument library and grab your self a guitar. If your 401k vanishes, at least you know how to play the guitar and can entertain your self through the collapse of the system.