And to explain inflation I like the Schiff's analogy: You go to an auction to buy a particular good, everyone has no more than $100. The price can't go past $100. If everyone had $1000 in their pocket for the same product, it would sell for alot more than $100.
And I'll bet there's hardly a trace of silver in it... (So I guess it will never cause Argyria, anyway)
I usually explain inflation/ deflation to somebody, via the lifeboat analogy i.e how much 'money' is in a closed system chasing the same goods/services: Situation: 3 people are in a life raft, one person holds all the water (enough for 2 people to survive) and is prepared to sell enough for one other person. Outcome 1 : 1 guy has $10 and the other has $100... how much does the water sell for? Outcome 2: 1 guy has $100 and the other has $1,000... how much does the water sell for? Same amount of water, sale price dependent on money available in the lifeboat (closed system) Nicely demonstrates how money supply directly affects prices, whilst at the same time...introducing a want/need (behavioural) aspect to the story . ---- The other question I like to ask sometimes: "What is money anyway?" huh?...money is debt! If we were both out of debt...would that be good? Yes! How about the entire city, entire country, entire world...how rich would we be? .....very rich! .....No! ...we would have no money at all! ----- Once folk can grasp the two concepts outlined above, they should be open to the concept of artificial scarcity/abundance of a money supply and how it is used to steal their property/productivity
Be glad she doesn't match you by buying this http://www.totalbeauty.com/content/gallery/most-expensive-creams/p64532/page10?cid=2130
ahahaha! I showed my friends the 'meltup' video on youtube and although they were aghast with amazement, the completely forgot about it the next day. I don't bother trying to convert people, but i do mention it just so that when silver hits the roof i can scoff haha nah i'm not that much of a douche no really...
I had enough trouble convincing my wife that buying gold was a good idea, let alone silver. 10 years ago I decided to buy an investment property and my family laughed at that idea, I imagined what they would have said about Gold and Silver and sent them an email with a small comment about the price rise for metals.....they never replied to my email....probably thought it was spam. The only people I have told since are workmates that have seen me on the SS forum at work and have asked what it is.
Give them a 1 ounce silver round as a gift and let them figure it out for themselves. I've given 3 ounces in coins away now (2 x Kooks and 1 x Keiser Round) and plan on a few more for close family members. But that's it. No preaching, no pleading. No explanation. Nothing unless asked and then only if sincere. I don't suppose the same strategy works with gold. But if you reckon it does, I'm up for adoption and need you to tell me all about the gold market.
There is a great film called "Money as Debt" It explains everything in layman's term, the invention of money, fractional reserve banking, real money, the lot. It is free to watch on Youtube. I can't get my wife or sister or anyone to watch it. Some people just don't want to move out of their comfort zone, at least your friend isn't actively stopping you from investing, same can't be said for my wife!
I really don't bother, I'm not expecting anyone to get what I do with any type of investment. I don't talk about it or anything, only time I get any comments of my partner is when I open the mail and another piece of silver shows up. "what did you buy that for!"
The Animation 'The American Dream' is a very good newbies video : Part 1 (HD) http://goo.gl/OLyPe Part 2 (HD) http://goo.gl/UsQAF
Who cares what anyone else does, what ever you invest in is your private business, you can tell straight away which people to talk to by the way they invest or don't invest. If you have friends who are property investors and are emotional about their investment in houses don't even mention housing bubble, metals, inflation, deflation or anything, let them be. If they are the kind that are inquisitive and want to learn about how to best invest , give them advice and add your disclaimer The last thing you want is to talk someone away from housing or to ask someone who is licking their wounds from a housing collapse into a metals market that might or might not correct, the last thing you want is to make someone who just lost 20K (potentially) lose more, just let them think what they want. If you are right they'll later remember what you said and ask for your advice
I have a friend who constantly bitches about how he always misses the proverbial train so I brought up buying silver when it was around the 30 mark. I said go buy some silver go buy some go buy some. What did he do NOTHING. Silver is just one aspect of shtf. There is also water food and shelter this also is hard to tell people about. I don't harass them but I do keep trying with my friends and family because I don't want them to suffer. Since I started stacking and prepping my economic outlook has improved. What is amazing is that no one gives a shit.
That and only that is why this is such a great investment !!! If everyone gave shit, than we would already be using silver/gold as currency and wouldnt have been in this mess in the first place. Good luck wannabesilver !
Everyone has to make their own decisions regarding this area. I have been talking about the need for investing in pms and farm land for the last 3-4 years. Except for a few clients/friends, people were not receptive. In the last few months, people are more receptive, but not much. And last fall, when I recommended people stock up on food staples, no one bought any extra food. I have planted the seed and now I will watch and see where the crops sprout. I will help those who request my advice. For the others, they are adults and will thrive or suffer based upon their individual decisions.
Just ignore the morons out there. There are lots of them, we are out manned and out gunned. Can't win them, just dodge out of the way.
It's entirely possible that the world's economy will go into reverse later this year and silver will fall to $20. If you need to understand how that could happen, listen to Puplava's interview with Nicole Foss. However, since I am long silver and investing on the fundamentals, and I see the metal coming into its own only towards the end of this decade, and climbing higher and higher indefinitely, the prospect of short term instability leaves me unmoved.
I honestly don't know why people are spruiking silver. Unless you're 100% happy with the size of your existing stack, talking it up is only going to create more buzz and put pressure on supply as heaps of people rush in to buy precious metals. If you think waiting times for delivery is bad now, think about what would happen if demand for physical doubles. Thats not even accounting for an increase in price. About the only thing I say to people regarding purchasing PMs is "I'm going to order some silver. Do you want some too and we'll split the shipping cost?" That's just to be helpful in a very small way to close friends and family and I don't ever expect any of them to take up the offer. I don't like it when they pressure me to buy real estate and I can't see why it would be different for them if I were to keep banging on about silver.
