^^^ its not personal just a bit a light hearted ribbing .. He gives me stick about RE & i return it .... are you new around here kr darling downs ? : wouldnt happen to have any cheap bacon wouldya ? lol ok im out before i get into trouble .
That reminds me, I haven't been on a "Bash the Silver Bull Bender" lately. Where's that mary yippee got too?
stocks up, PM down, PM up stocks down. if people know how to play the game they can make lots of currency, if they are poor like me , well they just do the best they can, it will swing around it always does that's what makes the world go round tide comes in tide goes out.
Agree with RM. Ignoring $ value is a delusion of permabulls, used to mainly to soothe ones ego after a financial bollocking. $ or oz, its still a loss.
Can't say I'm happy but not exactly depressed about it either Prices will move both up and down. If you cannot handle that, don't play in the game. Put your money in the bank or into bitcoins or whatever
The wealth preservation side of it for me anyway exists in a point of time. I view my stack as insurance against that point in time... a deflationary collapse is just as much that point in time as an inflationary collapse.
who told you that preserving wealth is an easy thing to do? if it were easy even dumb idiots would do it ... and when even dumb do it then it is impossible to accomplish. So, ask the same question in a 3 years and I will tell you how wealth preservation is working for me. So far so good ...
I hear ya, and I do not disagree. What I should have gone on to say is that it depends on what you believe will happen, and why you're stacking in the first place. If you feel that at some point in the future, you're going to trade your PM's back out to fiat currency - then, most surely you will be valuing your stack in terms of fiat, and you would be concerned at a loss of value during price dips like we're seeing now. If, on the other hand, you're stacking because you think all fiat currencies are going to hell in a handbasket, and you're planning on swapping out your PM's for other assets, bypassing fiat altogether (because you feel it'll be worthless at that time), then you have no reason to value your stack in fiat, and a price dip like we're currently seeing simply represents an opportunity to buy more (that you expected to be able to afford). EDIT: I've read more of the thread, and want to share some more thoughts... The world we live in today in so many ways forces us to determine the value/price of something based on fiat currency (USD, AUD, whatever). Some on these forums have referred to normalcy bias in the past - and this is one of the greatest examples of it. You are used to valuing items in AUD, you are, from childhood onward, taught that putting money in the bank is a good thing (to be sure, this emphasis has changed lately, with so many living in debt, and on debt of some form for their week to week expenses - but this too is all by design). I know this is going to sound like I'm some conspiracy theorist, I'd like to think I'm not. But stop and consider for a moment please... how many things today do people buy that is effectively, or practically, on credit? Your internet connection may be on a monthly plan, but there's a minimum contracted period on this quite often - same for your mobile phone. Who buys a car and cuts a cheque for it, or do folks largely take some finance (dealer or aftermarket) for it? It ends up that a family pays X for this every month, Y for that every month, and many large-ticket purchases are done on credit (yes, it counts as credit even if it's a zero interest for X months super deal like that offered often by places like Harvey Norman). All this credit simply fuels the "machine" - the bankers are effectively siphoning off a sizable chunk of peoples paycheques each and every week. Now, with all that in mind, I ask (not neccessarily referring to people on these forums!): Has anyone ever stopped and asked themselves how much they are paying in interest every pay period? I would warrant the number would shock many people. Has anyone ever stopped to realise that with all this borrowing/debt going on, money is being created at every single step, and the only people profiting from this are bankers? No, seriously, I can't put this plainly enough! Has anyone ever stopped to consider that reserve banks around the world can create money for the paltry cost of some paper and ink - and really *thought* about that, and what it *really* means? I'll throw a side line in at this point - I started stacking silver in around 2007, it took me nearly 5 years to figure out the banking system, and how people are being systemically ripped off, and made to become "slaves" to the "system" with ever increasing, and in some cases, crippling amounts of debt - so I'm not the sharpest tool in the drawer when it comes to thinking about this sort of stuff This is the bit where I return to "normalcy bias", it takes some careful, and out-of-the-box thinking and consideration to see the picture on this. Looking at all of the above, and considering that across the entirety of human history, there has been NO fiat currency that has survived any meaningful length of time, it seems perfectly logical to me that one would want to hold much of their wealth in the form of hard assets that have some level of surety of retaining true value - such as PM's, real estate and so forth. (did I ramble too much here?)
Real money has struggled to survive, it's human nature to fiddle with the system in order to profit. Sorry, I stopped listening
This is, since months, a run to other stuff. The last doing it, often form the losing side. They sell X at the bottom. They buy Y at a top. And then the winning side rushes out Y and back in X. It's like always. Now look at this page: http://finviz.com/futures_charts.ashx?t=INDICES&p=w1 That's Y.
We are right in the middle of WW3. It is an economic war between nations and especially between citizens and ultra wealthy special interest groups, and increasingly governments are turning on their own citizens (and the the citizens of other countries) as seen in Cyprus. We are in an economic battlefield, and when this is over the world will be nothing like it was (for better or worse). This war is not nearly over, it is quite obvious that gold is one of the central objectives for the key players and there are titanic forces going head to head over it. The bombs, bullets and invasion forces of conventional wars have equivalents in financial wars (it's computer warfare more like Skynet) and one of those financial tactical devices just hit the metals speculators. This is not over, and I don't know how it will end, but what I can see is that the biggest armies are grabbing all of the gold that they encounter. Given all of this I think that it is Normalcy Bias to be sitting here worrying about whether you have done the wrong thing by investing some of your money into silver or gold because the "virtual paper market" has just had a tactical device dropped into it. This war is not even at half-time yet.
Why are you measuring silver against fiat? To find its true value work out how many Oz of silver it would take to buy a barrel of oil or some other commodity, you may find the buying power hasn't changed but the price in fiat has, so in turn your wealth has not changed as you can still get the same amount of 'stuff' for it.
Okay, lets try this again: April 2011, my rent: 12.5oz~ April 2012, my rent: 15.5oz~ April 2013, my rent: 20oz~ I measure my silver against fiat, because I don't want a barrel of oil.
You need to do the same exercise over a much longer period - 2 years is too short a time frame 1983, my rent: ?? oz~ (using 1983 rent) 1993, my rent: ?? oz~ (using 1993 rent) 2003, my rent: ?? oz~ (using 2003 rent) 2013, my rent: 20 oz~ The concept of preservation of buying power is a long term one
10 years ago they were basically giving silver away. Now it's just dirt cheap. In 2003, sold my house, bought x oz of silver. 10 years later can sell the silver and buy 4 of the same house. I would say that's not preservation, that's getting richer. If houses would have gone up (in purchasing power) more than silver, then I would be poorer. To be able to do that you need vision. Gold and silver have an history on doing nothing for a long time and then re-adjust violently to a new valuation. Don't be fooled by the day to day shenanigans.
VC what are you doing, spread the fear, induce panic. Everyone knows that the best way to make money on investments is to sell when its going down and buy when its going up and to never ever be ahead of the curve
