Interesting snippet below from Miles Franklin aka Zhanna Schectman:
Recently, Richard Russell defined what “real wealth” is. According to Russell, real wealth is 3000 ounces of gold. Note, he did not put a dollar figure on this. Just ounces. If the price of gold hits $10,000 or if it plunges to $800 it matters not. It gold falls, everything else will fall even faster. It will retain buying power. If the price rises it will also retain buying power. He is pointing out that one will always be able to get by at a very high level with 3000 ounces of gold, regardless of the current price.
If I am correct, and gold tops $2,000 next year, then 3000 ounces will be worth $6,000,000. If gold hits $5,000 than 3000 ounces will be worth $15,000,000. If gold drops to $800, 3000 ounces will still be worth $2,400,000, and that will be in a deflationary-great depression and its buying power will be spectacular. Think in terms of ounces, not in terms of dollars.
I've been trying to get at this answer for a long time, but was asking the wrong question. Light bulb moment for me. Do you agree? What's your PM goal? Even if you can't reach it, and the bar is high, I think shooting for the moon, but hitting the stars is admirable. Jesus, what's the equivalent in SILVER. I'm inspired. if 3000 ounces is your core, what is your stash to play with lol?
Let's Discuss Ladies and Gents!
i"m home sick today. Got giardia travelling.
Recently, Richard Russell defined what “real wealth” is. According to Russell, real wealth is 3000 ounces of gold. Note, he did not put a dollar figure on this. Just ounces. If the price of gold hits $10,000 or if it plunges to $800 it matters not. It gold falls, everything else will fall even faster. It will retain buying power. If the price rises it will also retain buying power. He is pointing out that one will always be able to get by at a very high level with 3000 ounces of gold, regardless of the current price.
If I am correct, and gold tops $2,000 next year, then 3000 ounces will be worth $6,000,000. If gold hits $5,000 than 3000 ounces will be worth $15,000,000. If gold drops to $800, 3000 ounces will still be worth $2,400,000, and that will be in a deflationary-great depression and its buying power will be spectacular. Think in terms of ounces, not in terms of dollars.
I've been trying to get at this answer for a long time, but was asking the wrong question. Light bulb moment for me. Do you agree? What's your PM goal? Even if you can't reach it, and the bar is high, I think shooting for the moon, but hitting the stars is admirable. Jesus, what's the equivalent in SILVER. I'm inspired. if 3000 ounces is your core, what is your stash to play with lol?
Let's Discuss Ladies and Gents!
i"m home sick today. Got giardia travelling.