Is this a bad time to buy silver?

[powersbj]

I can see in a major event the government revaluing currency and debts, gotta protect the "to big to fail" banks... The window to pay off debt with inflated dollars would probably only last as long as it takes for the people at the top to take advantage.

 

[The Heretic]

I am not sure how the US gov. would be able to tell me that I now owe more on my mortgage than what my mortgage contract says I owe - not and have that hold up in court.

 

[powersbj]

If they call it a tax they can do anything.

 

[OregonBuzz]

In my not too humble opinion there is no "bad time" to buy silver, whether as a money making investment or as a hedge against destruction of the dollar. As an investment to earn dollars you might consider the fact that when silver does appreciate it is generally in response to a declining dollar. My own preference is to buy a certain amount (1 oz. rounds or silver eagles) every month and store it in the gun safe. I consider it a hedge against the destruction of the dollar. Also keep in mind that the gold/silver markets are manipulated. In the Weimar Republic before WWII citizens there were burning Marks for heat as it was cheaper than buying firewood. A loaf of bread cost about 1-3 million Marks. That's inflation brother.

 

[The Heretic]

If they call it a tax they can do anything.

Taxes generally have to be voted on.

Oregon has limits on how fast property taxes can be increased.

Taxes still wouldn't change how much I owe the bank.

If super inflation hits the USD, I still only owe X amount on my property (the only debt I have). My property has appreciated and the taxes have gone up, but by law they can only go up so much - the assessed tax value can only go up by 3% per year.

It may seem contradictory, but in a super inflationary period, I really doubt that property values will appreciate very much; people will not be going out and buying houses in that scenario; they will be spending their money on food and other necessities, keeping what they have.

 

[The Heretic]

In my not too humble opinion there is no "bad time" to buy silver, whether as a money making investment or as a hedge against destruction of the dollar.

Bad times:

When PMs are at an all time high cost

When you don't have the money for necessities, much less PMs.

When you have debt.

 

[nehalemguy]

Silver hit $19.75 today.

Who was it on this forum that was claiming silver would be down to $8 oz. by this time in 2016? Fess up....you know who you are...

E

 

[IronMonster]

If you are worried about the price going up or down a buck or two you are not buying precious metals for the right reasons.