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Should you sell all of your gold and silver to go “All-In” on Bitcoin and Ethereum?

Mac Slavo
August 6th, 2017
SHTFplan.com
Comments (73)
Read by 5,875 people

crypto-currencies1

The crypto currency sector has been on a meteoric rise in recent years, with some “coins” seeing gains of thousands of percentage points for early investors. With interest building and new platforms for novice users that make it easier to buy Bitcoin, Ethereum and other blockchain currencies, U.S. Gold Corp CEO Edward Karr says there may still be big gains to be had.

In the following interview with SGT Report, Karr notes that just as is the case with precious metals, one of the fundamental reasons behind the crypto coin boom is that investors have lost confidence in their governments and economies. This has left them little choice but to flee traditional fiat currencies, which are literally being printed by central banks to the tune of trillions of currency units globally.

Like gold and silver, crypto-currencies offer a store of value, anonymity, and portability across borders. These core blockchain characteristics have enticed investors looking to keep their monetary activities private and increased their global demand as a crisis asset. And when that crisis does strike, what we’re seeing with the parabolic moves in Bitcoin and Ethereum, says Karr, will be replicated in precious metals assets, because the fundamental reasons behind shifting one’s money into anonymous and portable crypto-coins are the same reasons for why contrarian investors have held gold and silver throughout history:

I think all these gains in the crypto currency space… them going parabolic recently… this is the canary in the coalmine of the gains that are going to come in the precious metals sector… At the end of the day, when you look at gold and silver, precious metals have stood the test of time…

One of the reasons these crypto currencies are going to the moon is that a lot of investors… and mainly you have to look at the Chinese… look at Venezuela… when you are in economies where you know you are absolutely living in a Ponzi scheme debt bubble, you are willing to sell your Renminbi at any cost… And you would rather have Bitcoin… If you had Bitcoin and lived in Venezuela you’d still have some purchasing power parity…

Full Interview:

You look at crypto currencies… you look at the move that’s happened over the last several years in Bitcoin and Ethereum more recently… these crypto currencies have gone parabolic… so the gains have been astronomical… several hundred to multi-thousand percent if you got in and out at the right time… So you can understand why people would be attracted to the sector… Initial Coin Offerings are a brand new way to raise capital… it seems like there is a new ICO du jour that’s coming out and people are raising five, ten, twenty million dollars almost for any project… To me it’s very reminiscent of the dotcom boom… if you had any business out there and put dotcom in the business name… instantly your stock doubled or tripled overnight.

So, can you make big gains in the crypto currencies? Without a doubt… should you be looking at, maybe prudently speculating in some of these crypto currencies and ICO’s? Without a doubt…

Should you be selling all of your gold, all of your silver, all of your mining stocks and going all-in into this sector?

No way.

This is an extremely speculative portion of the overall market… should be an extremely small portion of one’s overall portfolio… just as quickly as these crypto currencies can go up they can come down as well…

Karr explains that in the very near future gold and silver will serve a similar purpose for panicked investors who will be fleeing stock markets and fiat currencies for assets that will retain value amid crushing government debt and an inflationary rise in prices like we’re seeing in Venezuela for basic goods:

It’s not a matter of “if,” it’s a matter of “when.”

And it’s certainly going to happen again.. the beauty about precious metals and the mining space is that these are cyclical industries… this market peaked out in 2011… we went into one of the worst bear markets anyone in this industry remembers… and these bear markets tend to last four or five years in really severe bear markets… we’ve been in a five to six year absolutely devastating bear market…

But gold is up off the lows… The governments and central banks have been quantitatively easing and printing new currency units ad infinitum… so everything is really setting up for the next bull market in this sector.

We’re in the first inning of a nine inning ball game…

Blockchain crypto-currencies may prove to be a resilient asset class in coming years as they are more broadly accepted as mechanisms of exchange. But discounting gold and silver’s 5,000 year history as crisis currencies and stores of value at a time when governments and central banks around the world are printing trillions of Dollars, Euros and Renminbis in a race to the bottom may prove to be a foolish mistake.

Edward Karr is the Chief Executive Officer of U.S. Gold Corp. 

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Author: Mac Slavo
Views: Read by 5,875 people
Date: August 6th, 2017
Website: www.SHTFplan.com

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73 Comments...

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  1. Menzoberranzan says:

    Hell no.

    • CrackSummSkulls says:

      Suckers play, sheep get fleeced. The same person who wrote thia article also bought Mining Stocks with P/E Ratio’s at 600 to 1 Earmings. Crypto based on nothing vs. Gold or silver tangible worth. How many here still holding on to your Beanie Babies to struke it ruch yet? Same mentality. Sure follow the herd over the cliff. LMFAO!!

      • CrackSummSkulls says:

        WRONG…Digital crypto is NOT like gold or silver, as every digital electronic transaction can be tracked and followed, just ask the FBI, who can track everything. Get the real facts before you believe this BS in this article. Just google FBI tracks Bitcoin transactions. Then watch the screen like up with search hitd. Anonymity my ass!! Who farted? Somebody farted.. Smells like tacos. Who ate tocos? Jesus’ that was you, wasnt it.

        Sure go all on crypto, then prepare to get on your knees like a rat eating cheese.

        • Gandhi says:

          But but but, I went all in on bitcoin when this site said not to and made a bundle. Now that they say it is good I may get out.

        • CrackSummSkulls says:

          Crypto currencies are NOT Stored value. They too are just a promissory IOU debt instrument to pay you back at some other time, and what are they backed with? NOTHING!! Good faith of the producer. Crypto currencies are no different than the US paper Dollar IOU debt instrument, only in digital form. Precious Metals are the Value with no IOU, you can cash them in anywhere in the world or trade anonymously. The Physical metal is the real value. LIKE WHO WROTE THIS BABBLE ARTICLE?

        • wardoc says:

          Absolutely correct; crypto’s are the most obvious of all monies that can be traced, tracked, cataloged, correlated w/ names of users, etc, etc ad orwell!!!! Gold and Silver in one’s safe are private, period!!!

      • septic breath says:

        Ya mean my Michael Jordan rookie card ain’t worth doodie squat? Aw, dang it!

    • Gandhi says:

      Yes, I am all in on bitcoin. I have found that I make huge gains if I don’t think or listen to the doomers.

  2. Warchild Dammit! says:

    Sure,why not?Yellowstone tis gonna blow.

    Actually,sell the gold and buy(lots more) ammo while it seems very reasonably priced,that will change in time.

    • fishandmud says:

      War : Agreed, and if you are not holding it, you don’t own it. How are these folks going to get to spend their Bit coin when their is no power to run the internet that is not going to be there? If you are a true believer that TSGTHTF then how will you use your cyber money? I reckon if you have the extra cash, you have ALL of your preps, you have some extra cash lying around, and you get in on the ground floor ( like pennies on the dollar ), then go for it. But it would have to be lottery money, something you don’t really plan on getting back. You just hope you will.

      Anyways, it is back to school time. That means sales, sales, sales. Stock up on clothes and under garments while nobody notices. Good luck. While people think we are in a slack time, prep twice as hard.

      • CrackSummSkulls says:

        How about all those who went all in on BetaMax in the 1980′ vs those who chose VHS Tapes instead. I prefer to sit on the sidelines with my fiz PM’s and watch the crypto circus fleece stoopid dopes. Says PT Barnum, “Sucker born every minute”

      • Fish&mud:

        I agree about stocking up on under garments (and socks) during back-to-school sales. Don’t forget to check the Internet for “made in The USA”. When you put together a bug out bag; you want durable well made clothing, not something that will split and expose your shortcomings.

        I recommend having at least two complete made in USA outfits for each season for every member of the family. Children need at least two complete outfits of made in USA clothing in every size to adult for all four seasons.

        This includes shoes, boots, sandals, etc. For adults: many. For children, at least one in every size.
        _
        _

        • Plan twice,prep once says:

          Few people know how to darn holes in socks any more. A couple needles and a spool of darning thread could fix hundreds of socks. It’s simple and most could figure it out without direction.

          In this age of all things disposable, we’ve lost so many skills.

      • Gandhi says:

        If you are not launching it down range, you won’t own it either.

    • Gandhi says:

      Don’t forget what happened to Robin Williams when he went to the militia training camp.

  3. Watchdog says:

    For some reason I never trust the new crypto wave. I have been a PM harvester for ages and would never let go, to any other direction. I keep thinking it’s all a scam with a gut feeling telling me not to invest in anything than bullion. Call me foolish, but gold is real money and a wealth preservation insurance after the SHTF. Silver will be used mostly for barter and such but gold….. Will never die.
    Keep stackin’

    • PeterFrancisco says:

      I don’t trust it, either. For starters, no one has been able to conclusively determine whether or not the supposed creator of bitcoin even exists. The US gov’t has its own crypto in the works, called Ripple. Then there’s the UBI (Universal Basic Income) being floated by Zuckerpig.

      My thought is that the US gov’t, at some point, will introduce its own crypto as UBI. You already have EBT; a UBI crypto would be just a larger-scale version of EBT. They’ll unveil it when the economy really goes off a cliff. Think TARP. It was all actuarial computer screen money that was never intended to make it into physical circulation, and it never did, which is why TARP never caused the roaring inflation so many had predicted. Now enter a US gov’t crypto. They can hand one out to every American, stuffed with however many crypto units they want to stuff on the thing every month, and roaring inflation will once again never happen because you won’t be able to go to an ATM and convert US gov’t crypto-scrip into physical cash.

      My other thought on crypto is that in order for it to become what it is being made out to be, you need a TRUE and PURE free market to be in existence first, and that simply is not the case.

  4. watching and waiting says:

    NO.
    IS BACKED BY NOTHING AND NOTHING LEAVES NOTHING.

  5. So, how much bitcoin$$ are you going to have left after the internet goes belly-up from EMP or a worldwide total computer hack…?? Thot so…..

    • Just Saying says:

      Relative to an EMP, I have been doing a little homework on electronic locks that are EMP proof. Looks like someone has come up with one. SafeLogic Extreme. Pretty good video on youtube showing how to install one. Amsec also makes one as well. I think it is called a Lock-Duo. If an EMP toasted the electronic lock on your vault, you would be screwed if you really needed what was tucked away in there.

  6. Anyone who thinks cryptocurrency is secure in any way needs to give me a call. I’ve got some lovely oceanfront property in Nevada I can give you a good price on.

  7. Plan twice, prep once says:

    Let’s assume we are talking to the less than 30% of Americans who even have a few dollars. The rest don’t because the necessities of life have just gotten too expensive. Yes, I am upset that all various insurance products have apparently become very expensive necessities. Suddenly you can’t own land without insurance, because stupid people will trespass and kill or injure themselves in the process. You have no just buy insurance to drive a car, you have to have extra coverage to cover the uninsured fools of the world. Now you have to have worthless government ObamaCare that’s super expensive so they can give free insurance away to the people who can’t afford it?????? Of course America is bankrupt.

    OK I was digressing.

    For anyone that has a few bucks the rule has always been, “Be Diversified”. In 2000 if you were all in on tech stocks you got wiped out. In 2007 if you were all in on banks, real estate, car companies, air lines, financial companies etc then you were wiped out.

    Yes, you miss the latest fad big profits and growth, if you are diversified. But you are protected.

    Standard investor recommendation on precious metals, no more that 10 to 20% of your investable money in precious metals. Bit coin is a similar category, it should be part of that 10 to 20%. It is a new product with zero track record, so it should be a smaller part of that pie slice.

    Bit coin has never really seen a financial storm, it is untested.

    You should have been diversified for years now. If you bought solid stocks that pay a real dividend in the years stocks were cheap, keep them. Don’t run out now and buy stocks at the current highs, unless you are a savvy proven investor.

    Bonds are a terrible investment now. Interest rates must rise, which means no one will ever buy your low paying crappy bond. You will be forced to sit on it and be satisfied with the micro percent it currently pays until it hits redemption date.

    Stocks. There are less than a dozen stocks behind the record growth numbers of the current markets. These are the stocks the government is actively manipulating to keep the market looking wonderful. Invest in stocks outside this dozen stocks and and you likely won’t make a cent unless you are really good. Stocks it seems no longer follow long standing financial rules. Invest in those top dozen and you are riding a fake news wave created by a rouge government illegally manipulating stocks. There are a few great stocks of solid debt free companies that you should own, but don’t buy at the current nosebleed prices.

    I sold the last of my high dividend paying stocks, because they stopped paying a real dividend. They began using an accounting trick that appeared to pay a dividend, but all they did was issue more stock and a statement that claimed they were returning principal. All they actually did was adjust my cost basis of the stock I had bought up while not actually paying a cent. So now that I’m selling at a loss, my tax basis was adjusted, so I don’t even get the full loss value. Buyer beware, just because a company reports a dividend, don’t believe they will ever give you the money. Check the line on your end of year tax statement for quallified vs unqualified dividends. It worked like this, you spend $2000 for 100 shares of stock at $20/share. Let’s say they claim to pay a $0.50 per share dividend. You are expecting a $50. With this trick, you get nothing and they simply adjust your record of paying $2000 for the stock to $1950 which means you now get screwed on taxes if you sell on money they never actually gave you, because this payment isn’t real, it’s just an accounting trick. That dividend payment they assigned to you does not directly affect the price of the stock. But you still have to pay tax on it as though it was a gain. Freaking crazy.

    Cash in a bank or money market is great, but it could easily be raided by a greedy government.

    Real estate? Well it sucks, in a crash it will most certainly shrink in value. The best real estate is undeveloped land or active farm land. Or rental property in a recession proof area, like Wash DC (the government always grows).

    Where to invest these days? I don’t have a clue, and I’ve made money successfully in the markets for decades, recently, and I mean during the second term of Obama on foreword, it’s just become insane.

    • Prepared Pastor says:

      Thanks to HUD, HEAP, SNAP, & TANF just to name a few even the poor in America are globally upper class:
      The average annual income worldwide is $7,000.
      The median income worldwide is $850
      90% of people in the world do not own a car
      70% of the people in the world live on less than $10 a day.
      40% of the people in the world lack indoor plumbing.

      It isn’t that true necessities got so expensive, but so many conveniences have become entitlements. In 1950 25% of Americans still used and outhouse. I’ve been unemployed now for nearly a decade because I have to stay home with my special needs daughter. I rolled my retirement into a self-directed IRA which bought timberland (if I were worried about confiscation I would have had the IRA loan money to a trust administered by a straw man). I bought enough Silver Eagles to pay the property taxes for hundreds of years and put a few thousand in cash in my safe at home in case I want to put a trailer on the land in an emergency. I married a debt slave who has her retirement in the market. She provides much needed insurance for the kiddo, but in the event of a collapse would lose everything at which time we would relocate to my mountain. I used to invest in junk real estate and it does not tend to shrink in value after a crash because people have to live somewhere. When my daughter is older we’ll probably build hybrid (on/off grid) triplexes in inexpensive areas an hour from a city. Tenants could pay their rent in cash, in labor, or with a HUD voucher.

    • Justice says:

      Food may provide the best return of all. If the end doesn’t come soon I will be to poor to prep. At least now I can focus solely on food and stock up when things are on sale.

  8. Rockmanr says:

    I have seen a similar thing come into town boom and then go out of business People traded solid assets for play money AND then the play money was worthless and the people left town with the solid assets. No computers no bit coin Gold and silver are it for recognized asset value Ammo is a close second and it you need it there is no substitute. Play money is play money and just computer data that can be erased by pushing a button

  9. For those who can, I am no economist, but I would think since Bitcoin is so popular, and rising in value, having some would give you the appearance of normalcy while you prepare in more reliable ways. This Bitcoin scares me. I am afraid it is a Trojan Horse. So, definitely don’t sell the farm to put all your preps into a two-Bit basket.

    _

  10. Anonymous says:

    And what happens if the power goes out (for any length of time or permanently)?

    Stick with what you already have.

  11. R522790 says:

    And just what happen should the power go out (for any length of time)?

    Stick with what you have.
    Stick with what you can actually touch.

  12. CrackSummSkulls says:

    Crypto digital bus like tokens. The next biggest scam out there. Its a pump and dump scheme. Lure the lazy ignorant get rich quick scheme sheep into the guillotine, and when the time is right drop the cleaver on their necks. You wont feel a thing after the first few seconds. Trust me!!

    Remember when playing MouseTrap, its the 2nd mouse that gets the cheese.

  13. Kevin2 says:

    Dustin Hoffman, “The Graduate”.

    “Plastics”.

  14. Anonymous says:

    you cant touch a bit coin. With gold you can HOLD it & it holds value.

  15. Anonymous says:

    The day is coming when you can throw your gold and silver away since it will become worthless.

    That day may not be far away.

  16. Reader1 says:

    I like PMs. The thought occurs, however, if you can afford to buy gold, then you probably ought to buy something else. A stock of emergency food, for instance. It won’t last as long as gold, but you’re basically completing the transaction you were preparing to make later with the gold. If you think about it, a stock of food is a lot less enticing to a thief than gold, too.

  17. Neal Jensen says:

    Do we not ready stories all the time about EMP and Black out scenarios?

    the Short answer NOT for the intelligent ones who know better already,” Ummm…NO. Duh.

  18. TnAndy says:

    WHY would anyone put anything into a crypocurrency ?

    Given there are an unlimited number of them that can be created by the strokes of keys, how can any value be assigned to them ?

    I simply don’t get it…..

  19. Warchild Dammit! says:

    Reader,times get tough that food will be very appealing to thieves of all sorts,ones that worry me the most will be parents with starving kids,so,be low key about your stored goods(all of em)have them spread a bit in caches if can be reasonably done.

    Gold/silver used as currency for decades,basically just a inflation hedge but last on list after basics covered,then,sure,have some metals.You have a fair amount and survive whatever mayhem hits might help you land on your feet on the other side.First though,all preps you can afford and reasonably store,got that covered,sure,a little gold.

    I will leave this post with two classics:

    1.The smalls add up!

    2.When have you heard someone say”You know,I have too much ammunition”?!

  20. Faux Liberte' says:

    We’re already in a form of cyrto/electronic currency, and have been for decades.

  21. Traitor Hator says:

    About getting yourself and your money out of a country. Just watched , Francis Parker Yocky. In South Africa they cut your eyelids off so you have to watch your wife and children being tortured . For South African whites its exterminate or be exterminated. .?

  22. Warchild Dammit! says:

    Sigh…….”used for decades”?!WTF!I will try again,”used for centuries”,there,that’s a little better.No real work this week,waking up late/low coffee buzz will do that!

  23. When there is no electricity or Internet, I hope you can eat bitcoins!

    Can anyone explain why Israel is the hotbed for shitcoins?!?

  24. Brian says:

    From precious metas to siver certificates. From silver certificates to Federal Reserve issued iou’s. From paper to credit cards and checks. Now they want to make it all digital. From “Alice in Wonderland”, “curiouser and curiouser”. From the Wizard of OZ, “I don’t think we’re in Kansas anymore, Toto.” Where does it end?

  25. Ernst Zundel has died.
    My condolences to his wife, Ingrd Rimland Zundel.

    This case of Zundel is an example of tyranny, injustice, and violation of First Amendment Rights to Freedom of Speech.

    Ernst was living in Tennessee when he was arrested on trumped up charges. In a Country with millions of illegals, some of whom are violent felons, this out of control government arrests a man who owns a home and is legally married to an American citizen, for not showing up for a hearing which his immigration attorney had postponed. He was deported to Canada where he spent two years waiting to go to trial. Most of the time was spent in isolation. He then was taken to Germany and tried for writing a book called “Did Six Million Really Die”. During the trial he proved that everything he wrote was the truth. The Judge in response famously said, “The truth is no defense”. Zundel was found guilty and sentenced to the maximum five years with no inclusion for time served. Therefor his sentence for five years was really seven years. Another violation and an indication of the cruel oppression of a corrupt government in all three Countries, the United States, Canada, and occupied Germany.

    This, my friends, is what Georege Orwel called a thought crime. This man never hurt anyone in his life. He never advocated hurting anyone. He was punished for printing facts about WW2 that the establishment wants to deny. The establishment of reality deniers have created a rediculous counter argument by outlawing any information that proves that their claims are untrue. So Ernst Zundel was charged with the “crime” of holocaust denial.

    During his imprisonment, Ernst Zundel was denied proper treatment for high blood pressure. He died of a heart attack after his release from prison several years ago. The married couple could not be together and were only allowed to visit each other twice a year.

    The Ernst Zundel and Ingrd Rimland story is a magnificent example of courage in a cruel tyrannical New Word of Disorder.

    _

  26. Sierra Dave says:

    I work in IT. I have no confidence in the technology lasting for any serious duration. let alone surviving a thunderstorm passing through.

    Meh. Maybe 5% just for the gamble that it skyrockets. Also, if you have to flee your country, bitcoin will work where you flee too.

  27. Red Hawk says:

    yep, fer sure.. go all in

    Idiots ..freaking surrounded

  28. Valery Vebelfeltzer says:

    I prefer tulips

  29. Bert says:

    sell all of your gold and silver to go “All-In” on Bitcoin and Ethereum = NO … sell all of your gold and silver to go “All-In” on long equities, diverisifed mutual funds… YES DOW 100k S&P 20k … it is guaranteed by the year 2050, the government CAN NEVER EVER STOP SPENDING and all that money is laundered through Wall Street. Don’t you people get it yet? They can not cut anything without killing the golden goose, therefore, they will never ever cut!! Money Printing Forever.

    • R522790 says:

      Wrong.

      Yes, you can print money for ever and a day, but the current rate that it is printed is unsustainable. It gets devalued the moment it hits the door. Too much paper not enough gold or value to back it. It’s value comes from from where? The stock market? the futures market? The ether? Long term or short, it’s lure and power relies on those who wish it to be a currency. It is also dependent on both the internet and the electrical grid, both which are currently under a lot of strain these days due to a number of natural and/or man-made problems.
      A currency needs to be controlled by its value, its ability to be distributed phisically, and the ability of it to be anonymous by those who use it.

  30. Bert says:

    ? Headlines with ???? Another infomercial story anyone?

 

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