I should not have used the word SCAM, I don't believe it's a scam per se. I just don't see other investments losing 25-30% off the top when you invest in them. PMs are for some and not others and I'm glad we all have choices.
I should not have used the word SCAM, I don't believe it's a scam per se. I just don't see other investments losing 25-30% off the top when you invest in them. PMs are for some and not others and I'm glad we all have choices.
Last edited by kidicarus13; 10-16-2013 at 11:01.
Lessons cost money. Good ones cost lots. -Tony Beets
Without writing up 10 paragraph worth of explanation why I am buying silver...
Treat silver as kryptonite against inflation/recession/market crash. It is your life line, a security, an insurance per se.
When market crashes, your silver's value increases upto 500% (based on factual history). Since so far we are averaging one market crash/recession every decade or so, I would take that insurance very seriously. Considering the US fed govt has no way to pay down its 16 trillion dollar debt other than devaluing the USD.
When you buy your health insurance, you lose money every single month. It's only worth its value and beyond when you needed it! Yet, we all (I hope) have health insurance. Well Silver is like your financial insurance, only better... you can still sell the silver at any given time at market price, even if you lose some value at given time; whereas any other insurance, you simply cannot get your money back.
The End.
EDIT: I lost my life saving, some inheritance in 1997 (3 market crashes ago). I haven't lost a penny since then thanks to Silver
Last edited by ChunkyMonkey; 10-16-2013 at 11:19.
Well said, ChunkyMonkey! It's a hedge against inflation. At least that's they way I look at it...
http://disciplejourney.com
“Make men large and strong and tyranny will bankrupt itself in making shackles for them.” – Rev. Henry Ward Beecher (1813-1887) US Abolitionist Preacher
CIPCIP
http://disciplejourney.com
“Make men large and strong and tyranny will bankrupt itself in making shackles for them.” – Rev. Henry Ward Beecher (1813-1887) US Abolitionist Preacher
CIPCIP
+1
I too could write a a page as to why!
My summary viewpoint; I am buying a small amount of "wealth insurance" every month, and hedging against the dollar. Why? Fiat currencies have a repeated history of dieing, but true money in the forms of silver and gold keep coming back. And if our current system does not crash in my lifetime, I can always pass my goods onto my children and grand-children. I sleep better at night either way.
And to answer queries about my earlier post: CC&V is building a new processing facility that is easily in the 9 digits, and at least two silver/moly mines on the western slope that have been dormant for many years are now reopening and going into exploratory phases. The conglomerates that own these holes don't go digging unless they see an upside...
"The best argument against democracy is a five-minute conversation with the average voter." Sir Winston Churchill
“It is well for that citizenry of nation are not understand banking and money system, if they are, I believe there would be revolution before Tuesday morning.” Henry Ford
My feedback: http://www.ar-15.co/threads/33234-lt-MADDOG-gt
I guess the problem I am having is paying more than it is worth up front. I don't have a problem with investing in it. Knowing the value of it prior to buying it and then paying 10-20% over is the thing I don't like. I agree that it will go back up and make money, but if in 10 years, it goes up 50%, when you sell it, you only make 20%.
I think you're missing the point. MOST people aren't buying it in hopes of turning a profit. It's an insurance policy against the dollar going to crap. You don't buy a home insurance policy as an investment. You buy it in case your house is totaled. It gives you money to start fresh. It's the same idea behind PM's. Dollar goes to $0, you can have valuable metals saved up to buy goods when things bounce back. Not just valueless paper bills. PM's will always have SOME kind of value in a market. Dollar bills may not.
"When there's blood in the streets, buy real estate"
“Whenever destroyers appear among men, they start by destroying money, for money is men's protection and the base of a moral existence. Destroyers seize gold and leave to its owners a counterfeit pile of paper. This kills all objective standards and delivers men into the arbitrary power of an arbitrary setter of values. Gold was an objective value, an equivalent of wealth produced. Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it. Paper is a check drawn by legal looters upon an account which is not theirs: upon the virtue of the victims. Watch for the day when it bounces, marked: 'Account overdrawn.'” - Ayn Rand
http://disciplejourney.com
“Make men large and strong and tyranny will bankrupt itself in making shackles for them.” – Rev. Henry Ward Beecher (1813-1887) US Abolitionist Preacher
CIPCIP