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Nick in MNG
5 years ago

Re: UBI & behavior control

Let’s say some form of UBI is implemented in the near future, and one is eligible and getting paid the UBI without needing to do anything different at present. With all other things being equal, one doesn’t want to turn down money that can be potentially useful someday, right?

So with that in mind, what are the best ways of taking advantage of that while still minimizing that potential insidious influence for that future time if/when we’re EVENTUALLY pressured to comply to something against our nature? In other words, how do we maintain a healthy “meh” take-it-or-leave-it mindset in the face of such “free” goodies? Obviously, having other income and not being dependent on UBI is priority number one, but even “extra money” can influence us. Speaking for myself, I didn’t NEED the stimulus check and try to look at it as a ‘whatever’ sort of thing. But I’m self-aware enough to catch myself getting a little interested whenever I hear news about the possibility of another one in the future.

Would the best approach just be arranging direct deposit or automatic transfer to an out-of-sight out-of-mind bank account, investment account, or crypto wallet? Basically operating on the principle that if one barely sees it, then one will barely miss it if yanked away? What would you recommend?

Nathan Kirby
Nathan Kirby
5 years ago
Reply to  Nick in MNG

I am sure Jack has some great ideas for UBI that he can put to good use. I personally would defer it to another account that accrues interest as a sort of retirement fund that I don’t count on. That way if I do something that would warrant a “return of UBI funds” it would be easily accessible, but at the same time accruing interest and being available in an emergency.

Brent Eamer
Brent Eamer
5 years ago

Greetings from PEI Jack.  I’ve accumulated a fair amount of both physical Silver and Gold, and some of the mid tier that you don’t recommend.  My physical also includes some junk U.S and Canadian coins as well as some “Resting Bitch Face Maples”.  I prefer the U.S Junk coins, since it’s 90% vs 80% on the Canadian coinage. My ‘Paper Silver’ is Sprott Physical Gold and Silver Trust.  My exit strategy on my physical is to supplement my RRSP, TFSA (401k,Roth IRA, U.S equiv).  Since Silver is much more volatile, I don’t want to have to sell at a low point; however if it runs up and I can get cash, and deploy that cash immediately to a tangible good, then I will do it.  My retirement income is not dependent on the metals.  The other thing I do is accumulate ‘virtual ounces’.  So if the Gold to Silver spread tightens up, I sell some Silver and flip to Gold, if it gets wider, I get Silver.  This I learned from the ‘McAlvany Weekly Commentary’ youtube channel.  I’ve not acquired either in the last six months, I’m waiting for a correction.  If Biden gets in, my thinking is QE to Infinity and both will do well.  Not sure.  Also I have some mining stocks.  First Majestic Silver has done well for me.  Anyway, my 2 cents.  Great show

Tom from FL
Tom from FL
5 years ago

Just wanted to mention – Jack has talked about giving silver dollars ( or similar ) along with a little note to small kids for their parents to hold onto for the future. Then when the kid is old enough they get a lifetime of little notes attached to some silver or gold. I started doing this for family members and it has been well received and is a great conversation starter.