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Social media can be a lot of fun but sometimes it can be useful as well. Like this morning after my wife heard word through the school board she's on that all the schools in our town are likely to go on lockdown in a few days.
Nearly 300 million children around the globe are now missing class due to the "pandemic" and many more adults are working from home. By now shopping centers everywhere are running low on shoppers. No doubt the strain on the economy is enormous and everyone is living in fear.
After reading 5 articles about the psychology of toilet paper and why people are panic buying it, I figured it was time to get ahead of the curve and do some of my own shopping. So of course, rather than think for myself what I might need, I've posted on Twitter asking what I'll need to survive the impending supply shock/demand craze?
Pleased to say that I got almost everything that more than 200 people suggested to me. Alcohol, beer, whiskey, and batteries are already well stocked in my house. Seriously, I don't think that I'll have any need for guns & ammo where I live, nor am I willing to waste plastic on bottled water. After all, I'm preparing for a few weeks at home with the kids, not Armageddon.
To be honest, it was actually a pretty normal shopping trip. Top off on things that were running low anyway. But it was fun scrolling through my feed rather than relying on a prepared list. Ok, maybe I went a little overboard on the pasta. After all, who knows how long Italy will be offline and yes, I did buy a bit of extra toilet paper.... just in case. |
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Silver Bullet
Of all the suggestions I received this morning, which for some reason included several suggestions of things to put in my crypto portfolio, several people did say gold, but nobody said silver.
It was a bit strange as this simple item really should be on every doomsday prepper's list of essentials. Gold isn't nearly liquid enough to trade for most goods nor does anybody really know it's value. But a silver coin can easily be traded for a loaf of bread or a bag of rice.
So, it does seem a bit strange to me why gold (orange line) is almost exactly where it was when the panic started (chart below) while silver is down more than 7%. |
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The reason for the drop in both of these precious metals seems simple enough. When money comes flying out of the market, value tends to disappear. People aren't buying anything, only selling. Even things that might go up can be sold because you just need the cash more urgently for something else.
Things do seem a bit disproportionate here though and so, without providing trading advice I wanted to let you know that I've added a disproportionate amount to my portfolio today. |
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Have an awesome evening!
Best regards, |
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Mati Greenspan Analysis, Advisory, Money Management |
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