Don't Put All of Your Eggs Into the Basket of FIAT CURRENCY

If you have most of your assets in precious metals, someone has probably told you that you are putting all of your eggs into one basket. So the next time someone tells you this, ask them what they are invested in. If they answer stocks, then you can tell them that they are putting all of THEIR eggs into one basket - the basket of fiat currency!

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[EDTHEWATERGUY]

Once people realize the whole game is rigged more and more people will start putting all their eggs in one basket too.

There is only one negative thing about precious metals though and that is storing them somewhere safe from theft.This was the main reason for banks in the first place.I recommend getting a good safe and renters or homeowners insurance.

[BookofNick]

@EDTHEWATERGUY Thanks for the advice. I have excellent safe/security system combos, and my store is spread out over several locations. Not perfect, but my safes are thicker than paper! Your point, though, is a great reminder to everyone else. If you have just one ounce of silver, at least hide it!

[berg89dk]

As always, very educational and interesting video, Nick.

English is not my first language, and I wondered about the term "fiat currency".

I figured it's money which value isn't determined by it's actual material value (like a gold coin). Am I completely off, or is that about right?

Either way, I find this topic very interesting, and I look forward to more videos on this from you.

Best wishes and seasons greetings

/Berg, Denmark

[BookofNick]

@berg89dk Thank you, and you are right. Fiat money is money issued by government decree, and not denominated in redeemable assets. When the United States was on the "gold standard," our paper notes were redeemable for gold and silver, and therefore not a fiat currency.

[brown55061]

At least you have golden eggs in your basket my friend!! =)

Anything you have valued in dollars loses value. Always has under this system and always will. Even if we all made a 3% gain on our savings value is guaranteed to lose value year over year. Even if the price of silver dropped to $10 it's still something solid in your hand. Paper has no value. It's as good as an IOU from a bankrupt friend. Great channel Nick!

[davincij15]

BTW Ask your father to check into the fact that silver has never hit its all time high and happens to be the only commodity that has not done so. If this is not the classic buy low I don't know what the frack is.

[davincij15]

Could not agree with you more.

[slhines7]

I too have all of my eggs into the precious metals basket, for the same reason as you did. I agree with you and not your father. I miss the days of buyinig silver for $10 buck an oz. I wished that I knew then what I know now.