Venezuela citizens are turning more towards Bitcoin than trying to buy gold rounds. They're also fleeing that country, and I don't see the advantage to having bulky metal in a pocket that can be taken by border security.
I don't think Gold is the real standard, anymore. Its been pummeled into the ground by captured markets, and the stifling regulation and banking laws make sure that you can't easily transact using metals without every middleman taking a slice.
Honestly, if it was such a threat to sovereign monetary policy, they wouldn't be selling coins from their Treasury.
Silver has been mentioned numerous times as a way to purchase food there right now.
The only thing that turns up with "silver, food, venezuela" is a PR post on zerohedge by a metals concern and a few random quotes by people holding silver pumping their book.
I don't see any mainstream or independent media reports that they are using silver as a daily means to put food on the table. It looks like an out-of-context PR snippet gone viral instead.
Their fiat currency is practically worthless, and goods are still being exchanged. You really hate PM's, ehh? Crypto is helping people there too. If people are using crypto, surely PM's are being used as well.
I question the precious metals narrative. "Hate" is a word that denotes some personal vendetta, which I don't have.
I appreciate the back-and-forth, most people who have an interest in metals usually don't explain themselves.
I appreciate it.
I'm definitely not a gold or silver "bug." Precious metals are just one basket of many. As a trader is most of your wealth in the stock and other markets? I'm always interested in learning more to better diversify my holdings, and I really appreciate your content and replies!
No problem. I try to look for different assets to invest in. Crypto got on my radar a long time ago, so its been an interesting ride. Equities are overweight, so its hard to trust anything on that side for now. Bonds and interest rate products are suffering under low-interest policies, so they don't turn much either.