Quite the opposite here, glad you started the thread!Sorry if I've offended anyone...
Good advice, but for your average person I think this illustrates why silver is almost more important. First off, it's cheaper to buy an amount that you can see without magnification! And secondly it is already conveniently packaged in "commerce" ready amounts....such as a 1 oz coin is worth ~$40....that is a lot easier to trade without getting "screwed" out of your change. Also, from what little I understand about industry; silver has more industrial applications than gold; so there is also some intrinsic value besides the "idea" that it has been accepted as currency for thousands of years. (And I honestly believe it will continue to be accepted as currency, same with gold)Brick of gold? Nothing. That's like walking into a store today with a $50,000 bill (if there was such a thing) and trying to buy groceries. The seller cannot make change. However, 1oz silver coins would be good, Even small gold coins should be good for bigger purchases. There are common coins that are worth right now $290 to $370 dollars. These are the size of a nickel and include the British Sovereign and German 20 Marks and Swiss 20 Franc coins as well as all the common bullion coins that come in format as small as 1/10th of an oz (and worth about $150 in gold).
This is precisely why I chose silver instead of gold.I think this illustrates why silver is almost more important. First off, it's cheaper to buy an amount that you can see without magnification! And secondly it is already conveniently packaged in "commerce" ready amounts....such as a 1 oz coin is worth ~$40....that is a lot easier to trade without getting "screwed" out of your change.
you make a good point. If the economy fully tanks then PMs will not be very useful for years if not decades. But in other situations it could be VERY useful. Like the slow decline of the value of the currency...it never completely collapses, just becomes worth less and less. You've minimized your losses relative to others. Also there is nothing to stop you from cashing it out in a year or two to buy needed supplies. As long as the "system" is still functioning you can still "sell" your silver for whatever cash you might need in the shortterm, but one cannot guarantee that you will always be able to make the same trade in the other direction....it's not a fool proof plan that guards you against every possible scenario....it's just a practical example of having eggs in many baskets...OK lets think this out a bit. You bought silver with your extra money as a hedge and people will take silver in bad times. If the dollar tanks tomorrow (which it could) how will capitalism work in our system? Your money tanks who will sell you fuel? Who will bring the fuel to them to sell you? It seems everyone has the idea that the system will still be up and running on PMs. I could be wrong so think it out for yourself.
The clueless public is who buys at the end of every bubble. As a general rule, 80% of the move comes in the last 10% of the time-span in bull markets (the parabolic blow-off phase). Investing is a peculiar business; people like to buy when things are expensive, but don't buy when things are cheap and on sale.Edited to add, people will buy $15 dollar silver fewer people will buy $50 silver. Should silver go to $150 how many will buy it? Or even can buy it with $10 fuel?
Just like houses, alot of people made money and alot got the shaft. You could see it comming when new houses far outpriced what people could pay, thus no buyers. With no buyers values fell causeing even fewer buyers. Watch your butts it is becoming risky but with risk comes great profit.The clueless public is who buys at the end of every bubble. As a general rule, 80% of the move comes in the last 10% of the time-span in bull markets (the parabolic blow-off phase). Investing is a peculiar business; people like to buy when things are expensive, but don't buy when things are cheap and on sale.
Most people don't realize it, but in the last move the Hunt's had pretty much finished their buying in the $30-$35 range. It was the public who was standing in line for $45-$50 silver. I personally do not believe we are anywhere near the blow-off phase yet, but when the charts tell me to sell I am confident their will be plenty of people standing there ready to take my positions.
so I guess since we're all going to die anyways; we should just sit idly by and let it all happen to us? after all, the end result is the same. Is that your point?OK, I bit and wasted 15 minutes of my life reading this post. No one can predict the future in the short term, and I believe I know the long term future, but that is another topic. Gold, silver, water, food......it won't matter if a nuke is dropped anywhere near (unless you have a stocked cave picked out or a bomb shelter built in your house, which might not be a bad idea for the short haul). To you who believe that silver is going to $800 and ounce or even $100, I have a question. Have you begged, barrowed and scraped every penny you can muster and bought silver? If not, I don't think you believe what you are saying. Don't fight this life too hard, I only know of two that have ever made it out alive Common sense, diversification, moderation might be some key words. Being prepared isn't a bad idea at all, but you ain't going to live forever.......... I don't care who you are ;-)