Long Position on Silver and Gold?

[Irving]

Now seems like a great time to start finding my retirement accounts. I need to get on that.

[roberth]

DOW is up 270, S&P 500 is up, futures are up, currencies look kinda flat right now this moment.

Now seems like a great time to start finding my retirement accounts. I need to get on that.

Half of that should be in your gun safes.

If you can't stand over it with your AR15, you do not own it.

[Irving]

I used to feel that way, but have concluded that if the market fails to the point that your shares are eliminated, it wont really matter what's in your safe. On top of that, people are always worried about the government seizing stock assets, so recommend gold and silver. That's interesting because while I don't think it's unrealistic to assume governments wouldn't seize stocks, or government actually HAS tried to seize gold in the past.

[roberth]

I used to feel that way, but have concluded that if the market fails to the point that your shares are eliminated, it wont really matter what's in your safe. On top of that, people are always worried about the government seizing stock assets, so recommend gold and silver. That's interesting because while I don't think it's unrealistic to assume governments wouldn't seize stocks, or government actually HAS tried to seize gold in the past.

That is a defeatist attitude mister - straighten out and fly right. I plan on seeing any calamity through, ANY calamity, my zest for life and my orneriness are indefatigable. And if the bastards do manage to kill me off I'm coming back as a werewolf and then I'll paint the streets red with their blood, the blood of their children and their children's children FOR ALL TIME!!!

Was I over the top with that last part?

Historically people only held gold and silver so what else was the government going to take. Nowadays the government has electronic access to everything and they'll take the easiest things first with the help of their buddies on Wall Street.

[Irving]

That is a defeatist attitude mister - straighten out and fly right. I plan on seeing any calamity through, ANY calamity, my zest for life and my orneriness are indefatigable. And if the bastards do manage to kill me off I'm coming back as a werewolf and then I'll paint the streets red with their blood, the blood of their children and their children's children FOR ALL TIME!!!

Was I over the top with that last part?

Historically people only held gold and silver so what else was the government going to take. Nowadays the government has electronic access to everything and they'll take the easiest things first with the help of their buddies on Wall Street.

Not defeatist at all, more wildly optimistic. The entire of history of the stock market is up, up, and up, over time. My take is that 1) if the market were to crash, it'd happen before the government had time to confiscate anything, 2) you still get to keep all your shares, so as long as you can ride the wave and aren't living off distributions, you'll come out waaaay ahead, 3) there are companies that pay dividends regardless of share value, and that is where you make your money, and finally 4) those videos where the guy tries to give away a bar of silver on the street and no one even wants it for free.

[roberth]

Market doesn't have to crash, the government in its endless quest for money will just take it no matter the market condition.

[Irving]

That I'm not nearly as concerned about. Most likely is taxing post tax accounts, but like I said, I've become wildly optimistic in that I am the one that controls my destiny and will be able to negotiate my future regardless of the circumstances, ideal or not. That said, I plan to make money while possible, rather than short myself holding precious metals in anticipation of an event that may never come. I wouldn't tell someone else not to hold precious metals, but I'm after taking full advantage of current opportunities.

[roberth]

That's why I do both.

[Irving]

Good plan. Hence your recommendation of 50% in safe.

[roberth]

Government taxation is the biggest enemy of our retirement plans and our biggest unknown.

My distrust of the government knows no bounds, as government continues to slide left we'll see more parallels with socialist history.