So I was watching some internet guys talking about a market crash...Always talking gold and silver. Yeah, I get it. We may be ripe for it. They have said the same thing for what, 20-30 years. But this may be different. I am not heavy into gold and silver...some coins here and there. I do have stock in SLV (silver options) and RING (gold mining stocks). I have a few options expiring for SLV tomorrow (covered calls). One thing they said that caught my eye was Russia, China, and the Gulf States are forming their own currency or swap. They want to (need to) find something other than dollars to exchange. Russia and the gulf states will send China oil and gas. China will send technology/products to Russia and the Gulf States. They all will still trade with The West, but on a more limited basis. I get it and I see it. Whether it works or not, I don't know. What I do know, is they will need dollars or gold and silver as a backstop...Maybe both. I was looking to do future options for SLV and RING in the next few days/weeks/months. I have changed my mind. I'll bide my time for a correct entry for these. But, but, I could sell these and put them in a 4%+ Treasure for a years (still losing on inflation). Then I started thinking...Why did I buy these in the first place. Over the years, it has been for income (covered call), income. Now it will be for insurance (drastic fall of the dollar, markets, high inflation). Just hold tight...Patience Grasshopper!! If and when I see a drastic rise in these...Do covered calls again for income. Just take my time...
They're selling gold & silver, - via fear. The trick is as old as those metals. Guys had a, better chance with a, aliens landing above Moscow and abducting Putin or smthn. ~~SnP gaps up 500 points~~ Just saying. @zghorner 's joke.
Sort of what I was saying...Find a new currency. https://finance.yahoo.com/news/uae-explores-non-oil-trade-150619805.html