The markets can keep playing up longer than you can remain solvant. Just sayin' ... hoping all works out for you and hoping you fully realise what you are doing.
No do not do it! Unless Silver is like $15, you're taking a big risk. $23 Silver plus our crazy high Aussie premiums, is not cheap enough to get a loan.
The missus has said no as we already have a smallish loan anyways...... I only want 20-30K .......maybe more???
If y think this is a good entry point. A small amount may not be a bad idea, when you have the cash, you can easily pay it off. Maybe more in the realm of 5k
is there a balloon or bubble payment type of loan ? once your silver got into gains, then you start to pay monthly installments? eg 12 months after getting that loan ???
No i want to invest properly man...... I got some other shares owed to me that hav'nt made money yet also.... I just need the money now while this crash is going on!
I couldn't justify going into debt for the sake of PMs. I'm stuck on the sidelines for about the next 5 weeks paying off bills with no spare fiat to throw at PMs. Seeing silver and gold at these levels with no fiat is extremely frustrating but getting a loan has never crossed my mind. Patience is a virtue of any stacker. Just wait for your car and bike to sell or even consider lowering the price if you're that desperate to buy PMs. Whatever you lower to, it will still beat paying interest to banktards.
Hang on C.L .....If i buy big with a loan now and PM's rise dramatically in the future i will be able to afford the interest anyways.... I'll just pay it off in a lump sum.....Bang, thers your money bankturds!!!!!!!!!!!!!!!
And if it falls further you are screwed for how long? Lol man it's your money, feel free to gamble all you want - people here are only trying to warn you about the possible downfall you might find yourself in because you got emotional.
Underline "IF" PM's rise.............. I would never take out a loan to invest in PM's, I know prices are low but still just grab what you can afford and be happy with your little stack slowly accumulating. I've only managed to grab a gold sovereign on this drop, but might grab more come pay day, I only buy what I can afford with disposable income. Just my opinion, do what you want
why dont you get a $128k loan then go to the casino and bet $1000 on red if it hit on black next bet put $2000 if it fails to hit red again you need to bet 4k to cover the 3k loss and make 1k...rinse and repeat 1k,2k,4k,8k,16k,32k,64k,128k.....whats the chance of it not landing on red 8 times in a row????
Each time you have the exact same probability of hitting red. Having hit red 7 times in a row does not reduces the probability of hitting red an 8th time.
But I agree, you might as well go gambling and there's a 50% chance you'll walk away with twice you had.
Correct, each spin is an independent event. But using the above strategy will result in table limits biting you in the a$$ (casinos ain't stupid). However, hitting8 consecutive reds is a whole different probability.
This bet would actually require a $255,000 loan. but the concept is the same... although is it worth it to only come out $1000 up every 7 spins?
An even better move would be to sell your property now and then put all the proceeds into silver... however, with the property market so slow, by the time you sell PMs will probably be at an all time high! :lol:
bullsht! you guys are way too pessimistic about the prospects of gold/silver shooting up from these ridiculously low levels. it's not IF, but WHEN ... measured in days and weeks. the prices have already started going up again. anybody who managed to source credit cheaply (eg credit card balance transfer) and bought PMs on monday/tuesday is a bluddy financial genius!! Those of you who decry this are simply jealous you didn't have the balls to do the same :lol:
