We all heard the Peter Schiffs and Robert Kiyosakis of the world espousing how hyperinflation is going to cause gold to skyrocket. Of course, they were saying this in spite of the fact that the 10 year return on gold is ZERO.
In this video I discuss how Kiyosaki claims to have invested in gold since the early 1960s. That is admitting that he got awful returns for nearly 60 years. Of course, he talks about the returns on Bitcoin since they are outstanding. Yet never is it mentioned about gold.
The reality is that outside of a hedge, gold does not provide a good return. Schiff, in 2011, claimed that gold was going to $5,000 and said people should avoid the stock market. Since that time, equities went onto the largest bull run in its history while gold is flat.
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Peter Schiff is just old school and is happy with Storing his "wealth" and hedging against inflation of the $USD as opposed to a Cryptocurrency that is has multiple use cases for multiple streams of income, utility and growth in value against $USD
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Personally I don't have any gold or silver coins but I honestly wouldn't mind having some. It would be nice to look at and it would be fine as a hedge. However I probably wouldn't buy much and I much prefer selling some options on gold/silver mining companies and collecting the premium. Of course sometimes they sell and other times they don't but it should cover at least some part of the value even if it goes sideways.
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Summary:
In this video, Task discusses the traditional perspective on gold as an investment, particularly criticizing figures like Robert Kiyosaki, Peter Schiff, and Jim Rickards for continuously touting gold as a safe investment in the face of inflation. He questions the rationale behind investing in gold, pointing out its lackluster returns compared to other asset classes like equities. Task emphasizes the importance of considering gold as a hedge rather than a lucrative investment option.
Detailed Article:
Task initiates the discussion by addressing the prevalent narrative surrounding gold, where individuals like Robert Kiyosaki, Peter Schiff, and Jim Rickards advocate for gold as a safeguard against inflation. He points out their history of inaccurate predictions and questions why individuals still regard their advice highly. Task also mentions Mark Cuban's analogy of buying gold to collecting pet rocks, highlighting the lack of intrinsic value in gold compared to technological advancements.
The speaker delves into the historical context, mentioning Robert Kiyosaki's reference to gold as "God's money" and critiques the lack of transparency regarding the actual returns on gold investments. Task compares the returns on gold versus Bitcoin, emphasizing the importance of acknowledging both good and poor returns when promoting different asset classes.
Task specifically addresses Peter Schiff's past recommendations and forecasts regarding gold reaching $5,000 per ounce, juxtaposing these forecasts with the actual performance of gold over the last decade. He emphasizes that gold has not yielded significant returns despite the inflation concerns that were supposed to drive up its value.
The speaker transitions to discussing the concept of gold as an actual investment versus a hedge against economic uncertainties. Task draws parallels between viewing gold as an investment and viewing a personal home as an investment, highlighting the risks and potential returns associated with each. He stresses the importance of critically analyzing the returns on gold compared to equities, highlighting the significant differences in performance over the years.
Moreover, Task questions the justification for gold being the go-to asset based on the hyperinflation narrative, arguing that the money the Fed prints is not directly tied to individual spending capabilities. Task challenges the belief that gold is the ultimate safeguard against economic turmoil, raising skepticism about the reasoning behind such claims.
In conclusion, Task encourages viewers to reconsider the perception of gold as a high-return investment and advocates for a more nuanced approach towards understanding it as a hedge in times of economic uncertainty. He closes the video by urging viewers to have a great day and hints at future discussions on the topic.