Sprott Money - tremendous demand... "To clarify, we may have some client buying a single tube of silver maples, while at the same time, another client is buying $5 million of 100 ounce silver bars or gold maple leafs. The bottom line here is the drawdown in price is creating a tremendous amount of demand." @ www.maxkeiser.com Once currencie fail what it there? ... food, bullets, farming land, pms. Cash if devaluation is slow, not high inflation.
Hem9,your post is a classic it could be applied to half the Skittish posts appearing at the moment. You didn't use charts,graphs or even use the word Parabolic! to nail the Essence of Investing in Silver. Simple-Concise-Beautiful REDBACK
I would dump no more than half when you get back even. You bought because you believed silver would be 50, 60, 70, 80 or more one day...and it will. Selling half your stack gives you the best of both worlds, cash on hand and an investment for the future.
I might take out another loan and buy more to even out the costs, because i really dont want to miss out on this, ive never seen it this low before, i just hope im making the right decision, do you think it will go into the 20s?
If you do that, I would suggest only a small amount if you can get it at low interest. The reason for me saying that is to remind you that silver is speculative, an putting yourself into hock on a speculative resource on the cusp of the second wave of a market collapse is not a decision to be taken lightly. Even then, I would only suggest doing so if the silver price tanks so much that you can purchase actual physical bullion for below $25.00 in the hand. Just an opinion to help you do your due diligence before committing to a loan.
The only loan I would get to buy silver is from a close family member with no interest. AND only an amount I know I can pay back in the coming weeks with wages from work (a stable income). Beyond that, it just seems counter productive.
From your reaction to losing out on the savings that you invested, imagine if you took out a loan to buy in the twenties and the bottom fell right out of silver. You would be in a mad panic. For a seemingly volatile personality such as yours, I think you would be better off investing in gold. I also do not mean to offend, but you seemed awful panicked when silver dropped a bit. Silver is not for the faint hearted, nor is is it without risk. We are here to support you, but we cannot pay for your mistakes.
Don't take a loan out to buy Silver, the major point of stacking Silver is to be debt free and avoid counterparty risk. If you take a loan out and Silver crashes to $20 then you may panic and fire sell losing a lot of money in the process. You might not need to sell to repay the loan but what happens when you need cash for other reasons and your wages are tied up repaying the loan? You'll be forced to sell at whatever price, not a smart move. Liquidity management 101. Always keep some cash around. Metals are long term assets, cash is for short term liabilities such as your car rego or sudden medical bills.
oh man. Silver is done. look at the charts, more blood to come too! I saw a report that said single figures!!! I am dumping all my physical and shorting the silver via CFD. Glad to be out! Note: if anyone would like to sell their physical to me in a firesale-esque manner PM me. Weak hands Show yourselves!
If you're in a panic over spending money you have don't use money you don't have you'll give yourself a heart attack that said I have a line of credit with a low rate of interest and I'm debating dropping 10 grand on silver and holding till it breaks 41 and then selling to pay off the loan. At this stage I can get bars for about 34.50 CAD so I could buy 290 oz. And if I sold at 41 it'd be 2175 proift selling at spot or I can pay off the loan and profit 45 oz. Of physical its tempting vbut I'm pretty confident silver will rebound over 40 by the end of the year. Its a bit of a gamble but its an amount I'd be able to pay off quickly if I had to.
I love this. Been waiting for it. Im lumping on now and ready for another buy if it drops more. Just what I have been waiting for. Problem is, it might be hard to get physical silver if it goes into the 20's? Already I have noticed the "closed for maintenance" sign up at a few dealers. Sign of things to come...
You're right Mentally challenged Monkey that's why I said it was a gamble. However I reckon the odds are pretty good on profit plus 10 grand is a manageable amount if I had to I could put my head down for a few months and work it off. But its definately not without risk. Though I'd say silver is more likely to be 50 than 20 by years end. Not only that the wealthy don't get that way without taking calculated risks from time to time. I think my biggest risk would be getting greedy when silver rebounds and not selling when it breaks 40!
Yeah I know this morning I thought about it and my gut was saying yes but I didn't want to take the risk. Had a nice breakie and a good surf in bigger waves and now I feel like its not that big of a risk. I have very little debt a new house with a soon to be functioning rental suite, however I was raised very conservatively when it comes to money so I'm very reluctant to take risks.
I feel bad enough having a small car loan whilst buying silver. I also don't like massive risks, but then I wonder why the hell I went silver and not gold
