Still think TITNC3: Return of the Iceberg was peak

I buy everything I can on credit when the interest rates are stupidly low. You're giving away money paying cash for large purchases.

 

Leasing a hooker? You Nevada boys are a strange bunch

 

No interest in that and couldn't afford the interest anyways

 

If only the Government had a credit report. I could give you a wild guess what their score would be.

 

http://www.worldgovernmentbonds.com/world-credit-ratings/

AA+

 

Synchrony Bank has a card for that.

 

It's the debt to income ratio that would kill them.

 

They have enough aircraft carriers they don't care

 

Gold and Silver being straight manipulated rn to force people to stick with the dollar

 

Gold and silver tradable online are bigger scams than meme stocks. Those ETFs and funds are as useful to measuring actual metals prices as me putting an upside down grill I cut in half, previously spray-painted purple, and then did a ritualistic chant over into my bathtub.

 

Disagree. I have found GLD, GLDM, SGOL, and IAU to all track quite well, as they should.

Full disclosure, I hold GLDM and SGOL in my portfolio.

 

Okie dokie lol. If it's an ETF, it's shorted substantially and collecting money off of boomer bagholders that can't be arsed to actually buy physical metals.

Metal ETFs are a scam^scam^scam. It's crypto for boomers (and apparently you)

 

Buying physical metals has substantial barriers with premiums in purchase and sale (often 15% or more with dealers) and/or extremely poor liquidity (finding a spot price buyer can take hours of work).

The legal documents are pretty clear: They're trusts, they purchase and retain physical metals, and the shares of the trust sold give the holder legal ownership of a defined portion of the trust.

If you look up the numbers, these ETFs track spot price extremely accurately. GLDM, for example, represents 2/100ths Oz of gold per share, and is currently priced $36.82 as of market close today. x50 = $1841. Spot price of 1oz physical gold per Kitco is $1854.80, meaning the ETF is off by about 0.75%. That's waaay better than the 10-20% premium for physical transactions with dealers or wasting hours upon hours finding a private party buyer to purchase at spot price - if you can find one at all (you often can't).

If you want some portion of your portfolio to behave the way physical gold behaves, this is the best option by far.

 

If you're comfortable with all of that analysis and reasoning there's never going to be any way I'm gonna talk you out of it. So.....good luck!

 

If only your dad owned an Emerald mine, you'd be king of the electric vehicle and space exploration world right now. But alas. You too were born as poor as I

 

I just think you don't have any good counter argument, honestly. No offense.

But you are correct - I am not going to rely on you (or anyone else) to make my investing decisions for me. And I mean that entirely without malice. We each have to decide our convictions and the risks we are willing to accept.

 

*gestures broadly at the scam that is ETFs and trusts*

I'm betting on the system you're defending becoming irrelevant. You're betting on it making you returns in time for you to access them in retirement.

If I'm right, I'll give you a job cleaning up things at one of my summer houses. If you're right, it won't matter, because I'm hedged to take care of myself if the GME thing doesn't work out.

 

"I don't like 'em" isn't really an argument.

You do realize that your shares of GME, even if Direct Registered, rely on the same network of counterparties as the ETFs you consider scams, right?

Like, there has to be a buyer when you, or anyone else, sells.

 

First off, that's incorrect, cause when shorts are called in, they buy at whatever the price is available for sale on the market. Hedge fund fails, it goes to the DTCC. DTCC fails, it goes to the .gov and the money printer.

But let's assume they somehow manage a way to just say "nope, stop, wer'e not doing any of that. Global security risk and what not"

Remember all the blockchain stuff we were agreeing on earlier? That's still the ace in the hole.

 

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