Why Your Money Isn't Safe In The Financial System According To This Contrarian Investor | Forbes

Cyberattacks. Inflation. Pandemic. Is your money safe?
The question is asked by Simon Mikhailovich, a Russian émigré and entrepreneur who is in the business of selling a certain kind of safety. His New York City-based Bullion Reserve has wealthy families as clients. On their behalf his firm buys gold bricks from refineries, has them picked up by Loomis armored trucks and delivers them to guarded warehouses located on two continents.
For this worrywart it won’t do to buy shares of a precious-metals fund and then leave those shares in the custody of a bank. That bank is part of a fragile web in which wealth is represented by electronic blips. A lot of things could destroy the web: hackers, a loss of faith in government as a protector of wealth, a liquidity crisis, an electromagnetic pulse.
Mikhailovich, 63, has been preoccupied with risk for most of his career, first with an insurance company, then with a hedge fund that speculated on debt derivatives and got stung by the Lehman failure, and now with his bullion operation.
Aren’t most financial assets backstopped? Don’t we have a Federal Deposit Insurance Corporation for bank accounts and the Securities Investor Protection Corporation for brokerage accounts? Mikhailovich scoffs. Their reserves are adequate to cover one institution, if that institution is small enough to fail. They would be overwhelmed by a system-wide failure.
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Early saving and investing money creates compounds growth, it's a beautiful thing.But it takes focus and discipline. You need to be focused enough to commit to a plan and a process.

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[@katlinmicheal8121]

I've seen so many review about this man called Romero pieto who is he ?

[@artemisarrow179]

“Gold is money. Everything else is credit.” -John Pierpont Morgan

[@tredegar4163]

@@neutralsportsfan17 they would if you tried

[@MFM.123]

Gold is not money, it is not bought or sold at a fixed price meaning you are to lose out at some point by not having cash ! Everyone needs cash not so much gold

[@tredegar4163]

@@MFM.123 In order to trust the dollar you must trust the government that issues it to be wise stewards of the power to print currency. Do you trust the federal government to ever pay down its debt or for the Fed to tighten into an economic depression? Gold was criminalized and was only allowed to be bought and sold after the dollar was taken off the gold standard in 1971. This system is only 50-ish years old. The life cycle for fiat currencies is always the same. As a debt based system it must always expand, and if that expansion was kept slow it would work. But the temptation to print to pay is always too great, and the currency dies as a result.

[@claradidi7573]

normalize doing you own research before blindly investing your hard earned money in a stock because your friend told you about it

[@bobbygunz9254]

This is the problem! Most times people with little or no knowledge of the digital market try investing by themselves.

[@viviangall1786]

@@bobbygunz9254 exactly, make sure you do your own research, don’t just venture on any asset for the sake of it, I seek the guidance of 'Nicole Deanne Mckay' who has made me understand that strategy is everything, hodling and compounding her strategy has brought 15x returns so far this year. I copy her trades in real time which i can confidently say i am impressed.

[@chris-pj7rk]

@@viviangall1786 Amazing coming across comments about Nicole on here. Just a quick thank you to her. Before I started working with her I was down, down and downer. This year alone with her platform I have doubled my small portfolio after consulting her online page on the web.

[@NYC993]

It’s crazy how they are telling us in plain sight that the dollar is worthless and will be obsolete. Still some people are still saving dollars and think gold and silver are not good investments.

[@badguy4782]

He is talking about a future none of us will be alive to see. It's very far away from current reality.

[@NYC993]

@@badguy4782 I disagree… we can certainly see in our lifetime a change in the monetary system. It’s happening right now.

[@sfrealestatedealmaker6001]

@@badguy4782 I think it’s happening as we speak…

[@chengsgroup2518]

@@badguy4782 most Fiat money doesnt past 100 years....

[@actual_nonsense]

Joke's on them. Most of us are nearly broke anyway after decades of being nickelled and dimed to death as well as the rising cost of everything except labour.

[@WalterMangandid]

At first, I didn't see the importance of Gold/Silver in a portfolio. But now I know that I can't afford for it to be 0%

[@kevinyaucheekin1319]

What he saying the US$ is gonna collapse. That holding T bills/bonds is beyond stupid. Capiche Y'All

[@yisuyisuyi4369]

Every financial goal requires patience, dedication and consistent spirit knowing that investment is currently the most lucrative business in the world, both NFT, real estate and Crypto shares are really positively changing people's lives.

[@nuellakaren5221]

I'm thinking of investing in the crypto market but taking my time to figure out how the whole thing works.

[@phillensfotoz_]

Investing in crypto is very volatile and risky which is why most successful investors trade with professional brokers

[@adrianluis3813]

I have been investing in crypto but have had a bumpy ride. How can I reach your broker? I will appreciate any tip or pointers

[@marcocentola7168]

Nothing beats engaging an expert in any trade, selfishness and greed has deterred many from doing this and they ended up running a huge loss

[@adrianluis3813]

@Brandon Foster Who's she and how do l contact her directly?

[@jean-robertlombard1416]

Gold is money, all the rest is debt. ;) By the way, don't forget Silver, Platinum and Palladium, they could be VERY good friends in the coming years. Good luck everyone.

[@EllieCBirch]

It’s strange how people talk about all the profits, they have been making through trading of crypto, while am here making huge losses. Please can someone put me through on the right path or at least advise me on what strategy to follow.

[@morrisonpryce9843]

That’s true, most people today have been having a lot of failure in forex and crypto trading sector because of poor orientation and bad experts.

[@morrisonpryce9843]

Investing or trading with an expert is the best strategy for newbies and busy investors who have little or no time to monitor their trades.... I will advice you to stop trading on your own it’s very risky. Seek advice of a professional trader.

[@randodfcornelius4930]

@@morrisonpryce9843 I’ve been investing in Bitcoin by myself. I’m not really happy with what’s going on, just few weeks ago I lost about $5000 in a particular trade so will getting a professional solve the problem??

[@randodfcornelius4930]

@@morrisonpryce9843 if you’ve got any, please share

[@morrisonpryce9843]

An executive/investment management Mrs Bones. She runs an investment platform where you don't have to undergo any stress in the trades, she manages all my account and all I need to do is invest capital and she gets a tiny bit of my returns as her commission.

[@NHJDT]

If only more people knew that the only real money that has survived the last 5000 years are gold and silver. Every paper currency "fiat" has gone to zero.

[@kevinyaucheekin1319]

Well actually gold, silver, bronze & copper coinage. Got your point, your stating what everbody ought to know. Wemiar here we come.

[@jackiechan3509]

To those who do not understand what civil rights and bill of rights are need to be reminded of that ....period

[@quant2011]

Silver is mined at 7.4 to 1 vs gold. Yet gold is 77 X more expensive per oz than silver. Buying gold instead of silver is EXTREMELY NOT SMART

[@kasseen]

Buying either gold or silver instead of Bitcoin is also EXTREMELY NOT SMART

[@quant2011]

@@kasseen have you sold your home to buy moar btc like your God Saylor said?

[@kasseen]

@@quant2011 nope....I was buying BTC in 2017 way before saylor came along

[@edwright4857]

And when your computer is off without electricity there is no btc! I have many gold and silver coins to barter.

[@b_to_the_b]

He’s got a vested interest in Gold so it’s a biased opinion

[@angeldetierra3855]

► His opinion is irrelevant...

[@holyrivals7191]

Rich people just don’t get it. The wider the gap gets… the more danger you’re in

[@moneyprinter9269]

well, when a revolt breaks, its the poorer part of society that will suffer the most.

[@michaelanadi]

Gold should not be seen as an investment but rather as a preservation of wealth in the long term. Which means adjusted to inflation it preserves the exact dollar amount of your savings in the long-term like 30-50 years- Michael Anadi

[@eddymens1873]

Doesn't cover how to grow your money , just talks about store of value, well we need to build that value somehow!

[@tredegar4163]

Absolutely, timing is indeed everything. However when you believe a crash is about to happen then you want to be in cash or gold. Half of making money is not losing it after all.

[@kuarjones910]

I have been having a low income in my trading, and I have already lost enough of money trading myself can someone tell me what to do?

[@markvile8521]

Trading with an expert is the best strategy for newbie and busy investors who have little or no time to monitor trade I will not advise you to stop trading on your own

[@markvile8521]

Here in France expert Mrs Joan Gilbert carries out both orientation and mentorship potentials

[@katherinesango1242]

@@markvile8521 Wow I' m just shock you made mentioned expert Mrs Joan I thought I' m the only one trading with her

[@katherinesango1242]

She helped me recover what I lost trying to trade my self

[@gomeslucas2376]

I think I'm blessed because if not I wouldn't have met someone who is as spectacular as expert Mrs Joan

[@jackiechan3509]

Israelis are not the only protected people by law period........

[@jicalzad]

what's the 10-yr return on gold been?

[@tredegar4163]

A ten year outlook would be from peak to peak with a ten year commodity bear market in between. You would want a longer outlook, but yes stocks were the place to be for the last ten years, the question is will that be true for the next ten?

[@tik212]

matthew 6 Treasures in Heaven(U) 19 “Do not store up for yourselves treasures on earth,(V) where moths and vermin destroy,(W) and where thieves break in and steal. 20 But store up for yourselves treasures in heaven,(X) where moths and vermin do not destroy, and where thieves do not break in and steal.(Y) 21 For where your treasure is, there your heart will be also.(Z) 22 “The eye is the lamp of the body. If your eyes are healthy,[c] your whole body will be full of light. 23 But if your eyes are unhealthy,[d] your whole body will be full of darkness. If then the light within you is darkness, how great is that darkness! 24 “No one can serve two masters. Either you will hate the one and love the other, or you will be devoted to the one and despise the other. You cannot serve both God and money.(AA)

[@andrewliffey]

why didn't they ask him about bitcoin ? Kind of a simple must ask question for the gold people...

[@anonymousAJ]

What's a Bitcoin?

[@badboy-si5dz]

Great interview

[@MFM.123]

Easy for someone at Loomis to steal the gold !

[@sang3Eta]

M2$ / all gold = $3,000oz M2$ / Bitcoins = $1,000,000 I only have the World Gold Councils word for how much gold exists, unlike Bitcoin, which is a known supply audited every 10mins.

[@anonymousAJ]

Dude there's a million cryptos

[@mushrifsaidin]

Tapi simpan emas kena bayar zakat doh, long term akan berkurang jugak stok emas tu

[@desfordjames4040]

I believe him.

[@MayankBadhan]

Ray Dalio must be smiling watching this video.

[@mujinarokko1796]

黄金不可食用。 健康、食物和水是最安全的。

[@vaticinus]

Gold is by far the most over valued commodity. Only 10% of gold is used in industry, the remaining 90% is just useless speculation. People only think gold has value when things are good, as things gets worse gold loses its appeal. In times of extreme sever crisis gold is as useless as the rocks in my garden.

[@tredegar4163]

Then why does gold perform well when risk on assets like tech stocks plunge in value? The markets do not share your opinion that gold does well when times are good, actually it’s the opposite

[@ELECTRICMOTOCROSSMACHINE]

Any questions?

[@shayjtarot]

Interesting...

[@adamn9450]

Hold your own gold!

[@manojkumarhk5696]

What if one day suddenly people don't desire gold anymore and it becomes worthless? Just curious.

[@tredegar4163]

Then it becomes worthless, any version of “money” requires the belief that it will hold your purchasing power over time. Once that trust is lost then it’s over. However gold has been valuable in every civilization since recorded history, so I think it will be fine.

[@anonymousAJ]

Then we make stuff with it. It has industrial uses, for example in electronics. It's also a wonderful metal for plumbing - soft and workable like lead but less likely to poison you

[@luckieoleary6459]

USD isn’t going to fall 🤡

[@k.h.6991]

He's basically saying: get rid of your debt. LOL

[@jaspervanbuuren]

So they add background music AND show all kinds of footage WHILE this man is talking.... Can you please just let us focus and listen?

[@nikolaos1991]

This is clearly advert. It’s illegal as it’s not mentioned what so ever

[@vagnerbessabarcelos7305]

Much more wins today oh my God, I'm really happy for today $ 70,000 on this crypto investment after feeling so ecstatic heavy minded that's nothing good can come out of it, thank you Mrs Gladys Wood..

[@waunetag.125]

I have heard a lot about investing with Mrs Mrs Gladys wood and how good she is, please how safe are the profits?

[@gurkankaradag960]

Yes I can assured you because I have aslo been trading with her, profits are secured and over %100 return on your investment.

[@gurkankaradag960]

Message her via Whats Ap

[@gurkankaradag960]

꧁༒☬෴十𝟭𝟮𝟱𝟲𝟮𝟬𝟯𝟰𝟬𝟮𝟯 ෴☬༒꧂

[@gurkankaradag960]

👆👆👆🎖️🏆🏅 Mrs Gladys wood

[@phreewill]

Let we all agree to disagree.

[@andrewherman5010]

virtual currency is debased money in electronic form which can be manipulated and taken away on a whim.

[@auro1986]

so all should give their money to forbes and these advisors in the video to keep it safe, isn't it?

[@sudosuga]

NO. We have the assay's for countless tons of gold resources. And their owners know at what price they become viable. Golds price is determined by the energy and labor inputs required to extract it. As the gold price rises vs. oil for example, known sources become profitable and come online (Supply) lowering the price again. Energy holds the Call over gold. Oil, gas, Nuclear, Solar, and wind are the key. Invest in those.

[@RahulPatel-nd7wc]

america is going to extract 11 million barrels per day in coming years they had said this recently and so oil prices will stay volatile at least for a half decade to a full decade whereas gold prices will constantly keep on rising and will not face any volatility for a decade minimum.

[@tredegar4163]

Yes those commodities are the things people actually need, but they don’t work well as “money”. Your assessment is right in a stable fiat currency environment, but the contention is will we have a stable sound fiat currency in the near to medium term?

[@AfroSenpai]

...I wonder if he owns Bitcoin

[@BD-lq4id]

video title should be 'Man with gold company markets the asset he owns using false arguments'

[@IllPayne]

Forbes trying to save some 🐑 lives

[@averythompkins3682]

GOD Loved you enough too send His Son JESUS for you and if you will believe in Him and at baptized in THE NAME OF THE FATHER, THE SON and THE HOLY SPIRIT and turn from your sins you will be saved

[@jiaweichew3370]

Holding gold is good but I also like holding sensible company stocks that value their employees and customers as well as paying all their taxes in full with no tax breaks acceptable over profit as I feel these companies are more aware of everyone’s needs. No chance of investing in crypto as proven by how Elon Musk crashed Bitcoin and skyrocketed dogecoin with one tweet. (Too influenced by speculation and everyone wanting a quick buck)

[@JP-wd1yo]

damn

[@theylied1776]

Gold has no real value in modern society. Other than for either jewelry and as a basic conductor in electronics, gold is one of the least valuable precious metals.

[@timothymolapo9002]

In that case what would you say is the most valuable precious metal/commodity?

[@theylied1776]

@@timothymolapo9002 That's not how it works. Precious metals are too volatile and commodities are easily influenced by either regional or international instability. I can't give you advice on what to invest in... but the most stable investments have always been real estate and mutual funds.

[@artvandelay2591]

😁

[@josephpurdy8390]

Number of times you were offered gold as payment and, you decided to turn it down?

[@theylied1776]

@@josephpurdy8390 And there's my point. No one uses gold as currency. If it weren't for jewelry and it being a common conductor in electronics, gold would be basically worthless.

[@jesuschrist6217]

Better to invest in the philippines now

[@razorgarf]

Why's that?

[@jesuschrist6217]

@@razorgarf Philippines is the most gold reserve in the world, the son of Ferdinand marcos will elect as president this coming may 9 Watch this video. kzbin.info/www/bejne/Z57FYoOqmpWCmJI

[@adamc.4125]

You're exactly right

[@karelltulod3079]

FORBES MAGAZINE GAVE ME $10,000 DOLLARS I'M FROM PHILIPPINES I'M SO POOR

[@amtv84]

Over rationalized opinion of a senior citizen probably retired already. Crypto currency is the only solution to the financial world’s problems.

[@JakeHunter2010]

Gold is Gods money. #Jakehunter88

[@michaelgresham1980]

Historically speaking, it’s “the god’s” money.