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The importance of tangible assets

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Here’s news for you: Bitcoin has soared to new highs, trading at $35,000.

Hard on the heels of this article was another that caught my eye: “The Case for Digital Assets.”

Call me a Luddite — call me an old fuddy duddy — but why would anyone put their faith in digital anything, especially when it comes to digital assets? It can disappear in the blink of an eye.

I find it unnerving enough to use fiat currency. I realize fiat currency is just as imaginary as Bitcoin, but at least it’s tangible. It’s one of the reasons we adopted an all-cash lifestyle several years ago.

Fiat currency may be little more than an agreed-upon fantasy of “worth,” but at least it’s something you can hold in your hands. It’s not digital, it’s tangible, insofar as that fantasy supports it.

Consider a few headlines I’ve collected over the past couple months:

The Circle Is Complete: BOJ Joins Fed And ECB In Preparing Rollout Of Digital Currency

Robinhood Users’ Accounts Mysteriously Looted And There’s No One To Call

The Astonishing Lack Of Value In Value

When Money Dies, 100 Years Later

The last link starts with: “Almost a century after the stark lessons of 1923 Germany [hyperinflation in Weimar-era Germany], the West is convinced it can’t happen here. In our overwhelming material abundance, aided by the natural deflationary pressures of markets, we simply have lost our ability to imagine a hyperinflationary scenario.”

At some level, I think investors understand this, hence yet another financial link: “An Epic Commodities Boom Is Coming,” which starts: “Demand for commodities, tangible assets and the companies that mine, manufacture and transport them is about to blow sky-high.”

Ah, tangible assets. I’m all in favor of them. These are my preferred investments:

Sure, these tangible assets also come with risks, but since there is no risk-free investment, these are my preferences

Right now there’s a tremendous amount of uncertainty in the world, and somehow the thought of tangible assets is immensely comforting.



Source: http://www.rural-revolution.com/2021/01/the-importance-of-tangible-assets.html


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