Financial literacy - Introduction to investment in Silver/ (May be Gold)

chelseafc

Talented
Feb 20, 2017
86
3
4
karachi
One of the most important books i ever read was rich dad poor dad, its one of the most important books ever written, its a must read for everyone.

In Pakistan there is this new rave of hipster Islamic banks , debt based banking in a cloak- now why would i rott my income in a meezan bank current account when meezan bank is itself paying 12% return on investments to companies investing in musharka mubadra accounts ( I have seen the document they fix the return) but for indiviual savers the rates arent fixed and at the end of the day 60% devaluation in dollar and 11 % inflation leaves me far worse off. just see the price of the cars , All the people who are saving are losng including me while the banks sips mohitos at the expense of your hard earned income.

Solution :
Buy dollars , this protects your ass from direct devaluation against pkr , whenever the SB prints money. And people who bought it at 100 and sold it at 168 man, they had a good time. Downside: FedRes pumped like 5tr dollars in these corona times. Back to zero, no major gains but still better than keeping money in current acc

Gold / Silver:
Gold is far beyond auqat right now, ( another sign that when fed cuts rate at 0, gold jumps) plus you cant buy swiss accredited bars here ( rare and 10% premium ) , this brings me to silver , currently it is traded at 15/Oz , after consuming hours of video i think that this is a good place to invest, only downside is i am lacking credible information. i don't know which grade to buy where to buy or are there any better investment avenues

Now i know out there people are investing in these precious metals systematically, so is there any one who can recommend me a good book or can systematically shed light on this matter ? i just want save my ass from the day when dollar crasher or when pkr reaches 200 which is realistic post elections. see the trend .

why be at the mercy of circumstances
 
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Doof Warrior

Beginner
Jun 30, 2015
38
10
3
Islamabad
Was thinking about the same things today.

Buying a tola of gold or a fraction of some crypto seems like a good bet right now, but I have absolutely no idea about this sort of stuff.
 
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