I’m the compliance officer for a bank. In the long run, Bitcoin is really no different from the dollar. Ever since we went off of the gold standard, there’s nothing that is actually supporting our paper and digital money, except our faith that it is “backed by the full faith and credit of the United States government.” Feel better now?
History. FDR, in 1934 changed the value of gold from $20.67 to $34 per ounce. 1971, Nixon raised it to $38, 1973 to $42.22, and finally the Ford administration removed the value of gold from the value of the dollar.
As complicated as everything is getting I’m beginning to see the value of being 79 yr old. I used to be smart but if I live to long I’ll be totally stupid & I can’t handle that. LOL
You don’t invest what you can afford to loose, You might as well go to the casino with that attitude. What you do if first have savings enough to cover one off expenses like car or home repairs (presumably your doing regular maintenance). THEN you take and invest a set percent of your income (before taxes if you can) in Mutual Funds that invest in the stock market. Go to your local library and check out the annual Mutual Fund reviews that magazines like Money or Forbes do. Pick three or four and invest in them. Adjust the mix every few years for changes in management, otherwise ignore them, especially if there is a correction like we just had. Note corrections and market declines are BUYING SIGNELS. If you can invest more when they happen. When the price is down you always buy.
You don’t invest what you can afford to loose, You might as well go to the casino with that attitude. What you do if first have savings enough to cover one off expenses like car or home repairs (presumably your doing regular maintenance). THEN you take and invest a set percent of your income (before taxes if you can) in Mutual Funds that invest in the stock market. Go to your local library and check out the annual Mutual Fund reviews that magazines like Money or Forbes do. Pick three or four and invest in them. Adjust the mix every few years for changes in management, otherwise ignore them, especially if there is a correction like we just had. Note corrections and market declines are BUYING SIGNELS. If you can invest more when they happen. When the price is down you always buy.
flagmichael about 6 years ago
Well, now we know that is what this arc was about. It seems like rather bold commentary by JJ but it is on point.
SusanSunshine Premium Member about 6 years ago
So…. how do I invest excess pounds?
(avoirdupois, not sterling.)
jarvisloop about 6 years ago
I’m the compliance officer for a bank. In the long run, Bitcoin is really no different from the dollar. Ever since we went off of the gold standard, there’s nothing that is actually supporting our paper and digital money, except our faith that it is “backed by the full faith and credit of the United States government.” Feel better now?
Tyge Premium Member about 6 years ago
And there you have the crux of the matter.
William Bednar Premium Member about 6 years ago
“Only invest what you can afford to lose”? Sounds like a gambler’s catch phrase.
phil about 6 years ago
My friend was mining litecoin — he just cashed out and said he made a little money but it’s not work the processing time it takes to make it.
locake about 6 years ago
Everyone already agrees that a penny is worth ONE CENT. You cannot change that. Arlo would have to come up with a new medium of exchange.
jamesbaird1572 about 6 years ago
History. FDR, in 1934 changed the value of gold from $20.67 to $34 per ounce. 1971, Nixon raised it to $38, 1973 to $42.22, and finally the Ford administration removed the value of gold from the value of the dollar.
justjam38 about 6 years ago
As complicated as everything is getting I’m beginning to see the value of being 79 yr old. I used to be smart but if I live to long I’ll be totally stupid & I can’t handle that. LOL
mauser7 about 6 years ago
You don’t invest what you can afford to loose, You might as well go to the casino with that attitude. What you do if first have savings enough to cover one off expenses like car or home repairs (presumably your doing regular maintenance). THEN you take and invest a set percent of your income (before taxes if you can) in Mutual Funds that invest in the stock market. Go to your local library and check out the annual Mutual Fund reviews that magazines like Money or Forbes do. Pick three or four and invest in them. Adjust the mix every few years for changes in management, otherwise ignore them, especially if there is a correction like we just had. Note corrections and market declines are BUYING SIGNELS. If you can invest more when they happen. When the price is down you always buy.
mauser7 about 6 years ago
You don’t invest what you can afford to loose, You might as well go to the casino with that attitude. What you do if first have savings enough to cover one off expenses like car or home repairs (presumably your doing regular maintenance). THEN you take and invest a set percent of your income (before taxes if you can) in Mutual Funds that invest in the stock market. Go to your local library and check out the annual Mutual Fund reviews that magazines like Money or Forbes do. Pick three or four and invest in them. Adjust the mix every few years for changes in management, otherwise ignore them, especially if there is a correction like we just had. Note corrections and market declines are BUYING SIGNELS. If you can invest more when they happen. When the price is down you always buy.
buckyteeth about 6 years ago
Fiat money