hi guys, havent posted anything for a few weeks, ive been watching some of peter schiff latest vids and ive been following his advice, not to buy gold or silver, but most of his recent vids have been about INFLATION and him saying this ISNT transitory like the mainstream media and FED have been spinning but its here to stay, he is a very clever and smart guy the more you delve into his interviews, he said " why have your money just sitting there in the bank, earning no % and being eaten away by inflation, GO OUT AND BUY STUFF before it really goes up in price", thats basically what he has been saying in most of his latest vids.
So i know no ones cares, but i went to stock up on REAL things at coles/woolies, instead of having my fiat just sit there losing value, i took this brilliant mans advice (by the way i did some research and peter schiff himself is worth US$100m+) and converted my worthless fiat into groceries that will only go up and up.
I was shocked, sardines that were 65c a tin 6mths ago were 85c now, go to coles, those little 90g sardines in the orange can, thats a 30% rise in less than 6mths, i guess the RBA dont include sardines in their CPI numbers.
I stocked up on those, i stocked up on rice/pasta that was half price, i stocked up on canned beef from brazil that can last years, i stocked up on canned soups and canned stews etc...also by watching utube vids of "preppers" they always say BEST BEFORE is a scam to get you to eat it or replace it after the BEST BEFORE date, if the best before date is say june 2022, you can easily keep it many years after that, it might lose abit of its taste or colour but you wont get sick from it.
Just in case someone gets me for posting this on the GOLD thread, i have noticed gold come down the last few days, but im taking RUSSIAS advice, in a couple of **promotion blocked** articles the russian central bank said it WONT be buying any more gold for the time being, sure they could be lying and doing the opposite, but i believe them, you cant just go 100% gold thats stupid, so even though you can buy an ounce for AUD$2400 or so, im holding off, here why, just TALK of the fed increasing % rates in 2023, which they said a few days ago, got the DOW to sell off and gold to fall $100 right. now what happen if the FED actually do raise rates twice in 2023, by say 0.5%?
I think the DOW will tank 10% and gold could be back under US$1700 for sure, so im not buying any more yet, platinum looks a better buy on value, an ounce is AUD$1520 v's ounce gold AUD$2400 , pt $900 cheaper, and most dealers have stock.
SO there you go guys. anyone else here stocking up on groceries with their fiat rather than it just sitting in the bank losing value?
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