Deposits-in the bank or in gold? - page 10.

Gallar

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Quote from: koleusdat on May 09, 2023, 07:06:13 AM

How to save savings in inflation, there are many deposits provided by the bank, but banks often go bankrupt, does it make sense to buy gold? How is gold bought in a bank and interest is issued on it?

When it comes to saving money in a bank, sooner or later your money will surely be eroded by the so-called inflation and monthly administration fees that are already in the bank's system. Therefore saving in a bank is not a good place to store value for the money you have. Especially when inflation attacks, it will definitely reduce the money you have. Even in this forum, many have explained about the bank's system that extorts profits from its customers too much. So it is better to save your money in gold than in the bank. Because gold has stable price movements every year, it is easy to turn into cash, and gold has proven to be an investment asset that many people are interested in. therefore you don't need to hesitate if you want to start investing in gold.

And I suggest, if you want to invest in gold, don't buy or invest through a bank, it's better to go straight to the pawn shop, so it's safer and more reliable.

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Quote from: koleusdat on May 09, 2023, 07:06:13 AM

How to save savings in inflation, there are many deposits provided by the bank, but banks often go bankrupt, does it make sense to buy gold? How is gold bought in a bank and interest is issued on it?

Why exactly do you need to buy gold when you can simply buy bitcoin,?.
Well, I am not against diversifying your investment, but buying gold, legally involves a lot of paper works and documentation, atleast, I know it as this in my country, I don't know how or what process is involved for other countries..

But for me personally, I will rather buy bitcoin, than buy gold if moving my money away from fiat becomes paramount in saving it from inflation.

Wong Gendheng

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I prefer a deposit in the bank rather than gold, this is because saving money in the bank is safer and of course getting security guarantees so that when things happen then we can claim, in contrast to saving money in gold so if we are lost we cannot do anything.

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Quote from: koleusdat on May 09, 2023, 07:06:13 AM

does it make sense to buy gold?

Yes.

It's one of the best hedge against inflation. But since you're in the Bitcoin forum, Bitcoin is better than gold. Cool

Quote from: koleusdat on May 09, 2023, 07:06:13 AM

How is gold bought in a bank and interest is issued on it?

You can buy the tangible one and have it on your hands physically. But thanks to the brokers, you can buy gold as in digital gold that also have the value the same as the physical ones.

Now, you see those hypocrites that don't like bitcoin and says that it doesn't have a physical attribute while they're doing the opposite for gold.

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Quote from: koleusdat on May 09, 2023, 07:06:13 AM

How to save savings in inflation, there are many deposits provided by the bank, but banks often go bankrupt, does it make sense to buy gold? How is gold bought in a bank and interest is issued on it?

If we invest in gold, it would be nice to buy gold that has physical properties and we keep it for ourselves. Don't think about interest if the savings are in gold. Saving money in a bank will make the value of the currency decrease, giving no benefit to the depositor except for small amounts. If inflation occurs, gold will not have an impact on the inflation.

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Quote from: serveria.com on May 10, 2023, 05:31:33 PM

Quote from: koleusdat on May 09, 2023, 07:06:13 AM

How to save savings in inflation, there are many deposits provided by the bank, but banks often go bankrupt, does it make sense to buy gold? How is gold bought in a bank and interest is issued on it?

That's a weird question to ask on a Bitcoin forum. Grin

Bitcoin can't go bankrupt, it has no CEO, no board of directors, it never sleeps, it has great uptime and it can't be confiscated. Bitcoin doesn't take loans and it doesn't risk with customers' (users') funds. It's not dependent on any country's economy. What else could you wish for? Cool

What about gold? Doesn't it have the same qualities as well? There is one difference between Bitcoin and gold and it is that Bitcoin is way more volatile than gold, the price of gold doesn't fall as much as it grows over time while Bitcoin's price growth and drop speed are pretty much too high when compared to gold which makes it a more risky investment.

But I don't recommend someone buy and store gold in a bank, that doesn't really give someone an edge over inflation since it is again in the custody of centralized authorities and inflation can affect it for sure.

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Quote from: Alpha Marine on May 11, 2023, 05:24:13 AM

Quote from: Patrol69 on May 09, 2023, 07:31:55 AM

Currently, due to inflation, keeping money in the bank is becoming a very risky decision. Some of the reputed banks of our country have already declared themselves bankrupt.

Aside from the bankruptcy issue, in my country, our local currency cannot be trusted at all. Saving your money in the bank with our local currency is just a house of cards, it will certainly crumble. The currency just keeps on depreciating. Although it has been relatively stable this year when compared to the last three years, it's still a shit currency. It's stable now but I know it will still devalue in a few months time.
Inflation is so high that your $2000 may be worth $1500 within a year.
I'm not saying you can't use the banks but it won't be wise to leave your savings in a bank in my country, especially for a long period of time because it's a certainty that the currency will devalue due to the increasing rate of inflation and the very poor political and economic system in the country.

Inflation really affect on that situation that's the reason why its not ideal to deposit your money in the bank since you will just get defeated by heavy inflation if this occur. The small percentage given by those banks cannot cope up with that situation that's why in the long run you lose something with them by choosing this option. Purchasing gold is now famous nowadays since many people especially those gold investor see a huge potential that the value will over the years that's why many choose to grab this as one of their ideal investment option.

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Quote from: Patrol69 on May 09, 2023, 07:31:55 AM

Currently, due to inflation, keeping money in the bank is becoming a very risky decision. Some of the reputed banks of our country have already declared themselves bankrupt.

Aside from the bankruptcy issue, in my country, our local currency cannot be trusted at all. Saving your money in the bank with our local currency is just a house of cards, it will certainly crumble. The currency just keeps on depreciating. Although it has been relatively stable this year when compared to the last three years, it's still a shit currency. It's stable now but I know it will still devalue in a few months time.
Inflation is so high that your $2000 may be worth $1500 within a year.
I'm not saying you can't use the banks but it won't be wise to leave your savings in a bank in my country, especially for a long period of time because it's a certainty that the currency will devalue due to the increasing rate of inflation and the very poor political and economic system in the country.

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Quote from: koleusdat on May 09, 2023, 07:06:13 AM

How to save savings in inflation, there are many deposits provided by the bank, but banks often go bankrupt,

Once the financial system is centralized and they never guarantee that the money you put there will be returned when they go bankrupt, there is no way to maintain the value of fiat currency in the midst of a recession or inflation. What we have to do is move money there by other methods, such as buying gold and bitcoin, while only keeping enough money according to needs, deposits as a product offered at banks are also not profitable when talking about bank bankruptcy.

But to be honest, we really need fiat to support our trips because until now fiat is a legal payment method. But speaking of accuracy to maintain the value of the currency that we have, we should choose another method to save by investing in gold or bitcoin.

Quote from: koleusdat on May 09, 2023, 07:06:13 AM

does it make sense to buy gold?

Gold has the ability to survive amid inflation and buying gold makes much more sense than keeping it in a bank, gold is stable and can maintain value, But speaks of weakness, gold is slow to provide big profits according to your expected profit target.

Quote from: koleusdat on May 09, 2023, 07:06:13 AM

How is gold bought in a bank and interest is issued on it?

Don't use this pattern to buy gold because you can buy it directly at the store that sells it and you can save it yourself to avoid interest.

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Quote from: Smartvirus on May 10, 2023, 06:44:34 PM

Quote from: koleusdat on May 09, 2023, 07:06:13 AM

How to save savings in inflation, there are many deposits provided by the bank, but banks often go bankrupt, does it make sense to buy gold? How is gold bought in a bank and interest is issued on it?

When it's got to do with local banks, it doesn't matter the strategy you take or not take. All road still leads back to them when you have your savings in fiat or buy gold with same bank.
Should there be issues of the bank going bankrupted, your savings in both fiat and gold for commodity would be laid waste as well. Gold might attain some solid state but still, your portfolio could still be liquidated and used to perform other banking options untill they lack the ability to pay.

This is why, its of importance that, you diversify have some of your portfolio in other valuable gorms and when using the services of local banks, don't stick to just one.

risks will exist in all areas and what we do. therefore diversifying the assets that we have is very important so that if the worst risk occurs, we still have assets in other fields. and in diversifying the assets we must also classify them according to the level of risk when compared to inflation. just like we save in fiat currency, of course it will be different from gold or bitcoin, and another thing if we invest in property, everything has its own advantages and disadvantages

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Quote from: koleusdat on May 09, 2023, 07:06:13 AM

How to save savings in inflation, there are many deposits provided by the bank, but banks often go bankrupt, does it make sense to buy gold? How is gold bought in a bank and interest is issued on it?

When it's got to do with local banks, it doesn't matter the strategy you take or not take. All road still leads back to them when you have your savings in fiat or buy gold with same bank.
Should there be issues of the bank going bankrupted, your savings in both fiat and gold for commodity would be laid waste as well. Gold might attain some solid state but still, your portfolio could still be liquidated and used to perform other banking options untill they lack the ability to pay.

This is why, its of importance that, you diversify have some of your portfolio in other valuable gorms and when using the services of local banks, don't stick to just one.

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Quote from: koleusdat on May 09, 2023, 07:06:13 AM

How to save savings in inflation, there are many deposits provided by the bank, but banks often go bankrupt, does it make sense to buy gold? How is gold bought in a bank and interest is issued on it?

That's a weird question to ask on a Bitcoin forum. Grin

Bitcoin can't go bankrupt, it has no CEO, no board of directors, it never sleeps, it has great uptime and it can't be confiscated. Bitcoin doesn't take loans and it doesn't risk with customers' (users') funds. It's not dependent on any country's economy. What else could you wish for? Cool

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If I have money, maybe I will put it in the bank, but I will put the majority of my money in gold, because in the bank it is only fixed at a percentage per annum while in gold it is not like that.

This means that the profit level that can be obtained here between the banks is higher. Although I'm not saying that the bank is bad when it comes to keeping our money in it. That's why I'm more comfortable not putting my money in the bank than putting a lot of money in it.

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To be honest, depositing in banks is perilous and unsafe during this rough period due to the widespread inflation in global economic and regrettably it is predictable to be increased in the near future. From my perspective, investing in BTC is more profitable than in Gold but in long term and having multiple strategies is very important to guarantee a fixed returns. In fact, Bitcoin provides financial freedom but it takes time to be achieved and needs discipline and good decisions making. There are multiple sources of money, if you have knowledge and skills, you will easily accomplish goals and reach financial stability.

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Quote from: AmoreJaz on May 10, 2023, 03:38:01 PM

Quote from: Lida93 on May 10, 2023, 02:58:16 PM

Making deposit in bank doesn't nowadays doesn't give any profit, the interest is something next to none. In that o mean the banks are just there to make profit for themselves using depositors money without corresponding returns as profit.

Gold is a good asset to invest in as it doesn't depreciate in value like fiat money. The value of gold in the market keep adding as demand for it arises. One of the great ways to insure your money not to loss value in years to come is for you to invest it in buying gold instead of depositing your fiat in the bank.

we all know that depositing in a bank is just for safekeeping purposes. you don't expect for the interest earned as it is like dust. but if you avail their other financial services like time deposit and other high-interest services, then maybe you can get something.
so some people are still using traditional banks to secure their funds and not because of the interest. and of course if you want to diversity go for tangible assets like gold. there's nothing wrong in diversification of funds. it will give you better security if anything goes wrong in one of your assets.
either options, it is up to you. what are your goals for your funds, safekeeping, assurance, high interest and others?

Even if you would really be having that time deposit or whatever those offerings but still the % on annual basis isnt something that you could boast on and this is why its never been that ideal nor worth on making
your money stay and stored up on your bank account but instead it would be ideal if things to be applied on an investment which you do know that you could really be able to gain benefit if ever it would be succeeded.
But we know that there are people who cant just able to bare up such risks and this is why they would be deciding on making themselves to store up their fiats on banks and would really be able to have a good sleep.

Oh well, this is a common human being behavior on which there are ones who are risk takers and there are ones who do really love to play on the safer side and wouldnt be bothered on what goes around.
Some would really be sticking into those traditional things no matter what and would really be that close minded on whatever things that they would really be able to see around.
As long they do saw their fiat is on safekeeping then that what matter the most.

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Soon as a financial crash happens, banks are the first to suffer its detriments. If you are keen on losing your money in arguably one of the most important times you will ever need it in your life, then go! Invest in a bank and let’s see how things go for you. But if you are interested in keeping the value of your money even in financial crises like bank runs, financial crashes, and even war, then go invest it into commodities and assets like gold and bitcoin. That’ll guarantee that no matter what happens to the outside market, your money is safe and remains valuable, perhaps even after you die. So make your choice. Blue pill vs. Red Pill your way out of this one and see for yourself if investing your money in a bank is the best way to go or are you sane and would go for the most logical option which is to invest it in gold and other forms of appreciating assets.

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Quote from: Lida93 on May 10, 2023, 02:58:16 PM

Making deposit in bank doesn't nowadays doesn't give any profit, the interest is something next to none. In that o mean the banks are just there to make profit for themselves using depositors money without corresponding returns as profit.

Gold is a good asset to invest in as it doesn't depreciate in value like fiat money. The value of gold in the market keep adding as demand for it arises. One of the great ways to insure your money not to loss value in years to come is for you to invest it in buying gold instead of depositing your fiat in the bank.

we all know that depositing in a bank is just for safekeeping purposes. you don't expect for the interest earned as it is like dust. but if you avail their other financial services like time deposit and other high-interest services, then maybe you can get something.
so some people are still using traditional banks to secure their funds and not because of the interest. and of course if you want to diversity go for tangible assets like gold. there's nothing wrong in diversification of funds. it will give you better security if anything goes wrong in one of your assets.
either options, it is up to you. what are your goals for your funds, safekeeping, assurance, high interest and others?

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Quote from: Zlantann on May 10, 2023, 09:01:40 AM

Quote from: Adbitco on May 09, 2023, 08:32:20 AM

If I may get you correctly you are talking of buying Gold as a currency to trade and hold? Just as few have mentioned banks doesn't sell gold but for some security reasons you may decide to store them over there. But practically you can change the narratives of buying digital gold which is Bitcoin and hold with this you are in possession of your asset and there's no risk of bankrupt or government in control of your assets. Digital money being bitcoin gives you more edge than fiat and it doesn't make any increase all less in a fixed deposit account.

I will prefer buying digital gold if it is safe than sending physical gold to the bank for safekeeping. Bankers are not trustworthy. They can even use your asset for business transactions without your consent. When the bank goes bankrupt you will hear unbelievable stories about your gold deposits.

Presently I won't encourage any one to leave their money in bank or even deposit gold in bank, instead bitcoin is more preferable to buy and hold. This so-called bank uses our money for loan at end of the day they ended up giving us some trash after which they might made serious interest from the money deposited in bank, so leaving one's money in a digital asset is more safer.

Lida93

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Making deposit in bank doesn't nowadays doesn't give any profit, the interest is something next to none. In that o mean the banks are just there to make profit for themselves using depositors money without corresponding returns as profit.

Gold is a good asset to invest in as it doesn't depreciate in value like fiat money. The value of gold in the market keep adding as demand for it arises. One of the great ways to insure your money not to loss value in years to come is for you to invest it in buying gold instead of depositing your fiat in the bank.

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Quote from: koleusdat on May 09, 2023, 07:06:13 AM

How to save savings in inflation, there are many deposits provided by the bank, but banks often go bankrupt, does it make sense to buy gold? How is gold bought in a bank and interest is issued on it?

Simply depositing into the bank account will actually make you to lose your money because they give you less interest rate than the actual inflation rate of your country so it doesn't make sense at all to keep money in your bank after certain stage so keep it as gold because its proven cause centuries old asset never lost its value.

Topic: Deposits-in the bank or in gold? - page 10. (Read 1391 times)