Tremendous conversation with expert in finance and financial planning @heyed7496 around global financial situation.
During periods of inflation and recession, the value of money can decrease due to factors such as increased supply and decreased demand. This means that the purchasing power of money decreases over time, which can lead to a decrease in the value of savings held in bank accounts.
Silver and gold, on the other hand, are tangible assets that have been used as a store of value for centuries. They are considered to be inflation and recession-proof assets because they retain their value over time, and their prices tend to increase during periods of economic uncertainty.
When the economy is facing inflation or recession, people tend to move their savings from bank accounts to tangible assets such as silver and gold. This is because these assets are not subject to the same fluctuations in value as money held in bank accounts. Additionally, because silver and gold are universally recognized and accepted, they can be easily converted into cash when needed.
In summary, having silver and gold can be a better store of value than money in bank accounts during inflation and recession because they retain their value over time and can be easily converted into cash when needed.
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