lol I have not been wrong yet I am not SammySilver and probably wont be wrong any time soon as silver will be doing nothing for years to come there are simply far far far better investments at the moment
In the end, all of us together draw the future. In some past (2011), I didn't hesitate to buy upon every $32 revisit. I'm now hesitating to buy. At $20. There is one element common though: I hold what I have, so if the price doesn't drop further, my unmaterialized loss shrinks. And I did better at every next purchase, with the exception of early last year, where I assumed that those that exited in the $34-35 would buy back in. They didn't. Or, where overwhelmed by other sales. Since some months, I'm reading about how monetary central planning works, along their own papers, in order to understand my (and on this forum maybe ours?) 'enemy'. What happens in the silver market has as major external drive what happens at the monetary central planning level, and understanding the enemy is a good step towards beating them. Why didn't we have inflation? Because they prevented banks from lending out. Because they cut down on what they give back for what they take. Because they take more. They are running on the fuel damp, as illustrated by the numerous and massive oneshot operations in order to hold up their positive stories. There are two keys towards exiting a crisis: the removal of its causes (in this case, undoing years / decades of central planned changes), and/or the working-harder-smarter-more efficient of the real economy. We have had major crises during the seventies and eighties. But major technological advances and world markets overcame it. To exit the current crisis, the same is required. But a market can't become bigger than the world, and it's highly doubtable that todays companies/employees can repeat what they did back then, so it leaves major technological advances (that thus affect a very big part of the market, alike computers in the eighties and later). So far I'm unable to recognize such major advances, 3D printing and the US natural gas/etc production improvements (fracking) are the most close I can see so far, but far from such a market/size/scale impact. Without this, the central planners have to eliminate a part of current bank deposits. So far they succeeded in my case, wasted half my bank savings on $30 silver and dealer spread and/or tax. But doing this on a macro economical level, requires much more. It's for a reason that the stock markets crossed recordhighs. It's alike one big wolve mouth, ready to grab the bank deposits of those that think the crisis is over and start to spend / take risk again. The central planners hope to eliminate the required amount of bank savings this way. They buy the prices up, make others pay them, then exit. Rinse and repeat. The risk taking side average joe instead of their systemic buddies. Own fault no guarantee. Less protest than a bank confiscation or higher taxes haha. And that's why this cyclic play, these price fluctuations, are of big importance. Remember 2012? 3 months around $27-28, alot blabla about a half dollar down and a half dollar up, and then, right after an EU central bank decision (excess reserves), in a couple weeks to $35. That's how they operate. Lure people into buying, and selling. As soon as enough do, make the opposite movement fast. Control them. How long can they hold? Well, as long as we suckers follow them, haha.
It wouldn't be a problem, because quite often hard asset prices tend to grow higher than overall prices in stores and on real estate. So, if you're quick enough, you will gain from skyrockeiting PM prices. You can also trade your PM's for cars, homes. Some people will accept them, provided that the PM prices have already went sky high!
Imagine what correction will happen if stackers and speculators all dumped their PM's on a high peak. Only if the economic problem is "big enough" will the PM prices not go deep down!
Pirocco, "In the end, all of us together draw the future. In some past (2011), I didn't hesitate to buy upon every $32 revisit. I'm now hesitating to buy. At $20." In my own case, I give little attention to the daily cost of PMs. I pay what the going rate is on the day and rely on dollar cost averaging to level it all out, and in fact care little if it does not. That is not the purpose of the exercise. Buying gold today at $1500 an ounce will mean very little when it is $5000 or $10,000 an ounce. Same view applies with silver. Physical possession is the name of the game. I am 100% convinced that there WILL be a (probably European) SHTF Day some time in the future, whether it is 2014 or later i have no real idea, just a gut feeling that we are getting closer. I am also convinced that printing and inflation are the ONLY way forward for governments. JMO OC
I'm a little new to this, but when the proverbial SHTF happens, won't even PMs become less valuable? Or is what everyone here is saying is that with PMs, at least you will be able to buy something? My own strategy is not to prepare for the Armagedon. I am well invested in stocks, real estate and have cash sitting on the sidelines. I think some of it should be in PMs (silver is my favorite) for the upside potential by the time I am dead and buried and leave it to my heirs. Cash will certainly be worth less in 20-30 years. Silver will almost certainly be worth more.
If the SHTF situation does happen and who knows if it will or how bad. Then if history repeats itself we could see a situation like Germany 1923, who did exactly what the likes of US/UK/AU are doing now. This is what happened. Wiemer, Germany Gold and Silver Prices 1919 - 1923 German Mark prices of Silver and Gold went from: Silver 12 / Gold 170 in January 1919 to Silver 543,750,000,000 / Gold 87,000,000,000,000 in Nov. 30, 1923. You could buy a city block in Berlin for 25oz of gold. But apparently the amount has changed over time, so who know what the true figure is. But you get my point.
In the UK the government can take 40% of your wealth ( i.e. your stack ) on death. How does that compare in other countries ?
Federal and State estate taxes in the US can be substantial...up to 40%. The first 3 million USD, I think, may be exempt from Federal, but they get you one way or another. But if you have physical possession of PM,???
if that happens I will quickly settle my debts on the house and just sit on the rest would be fun paying the house of with a few oz of gold
Not really thought that far ahead, when silver started going up into the $20's I thought I might be able to sell at a profit but this was when I had been buying at $14 off eBay and before I found SilverStackers. I reaslied that it was too much like effort to sell the stuff so I still have it all. Nearly sold it again when it got to $50 but as it was going to $100 I thought I would wait awhile. No family to leave it to so I guess I will just sell it when I need a bit of spending cash or if I see a nice house come on the market I might try and sell it all off in one go to fund that. I might also start burying some of it around Qld, just for a laugh. Keep the metal detectorists happy at least.
lol you read too much Malooney mate. People were literally carrying wheelbarrows of cash to pay for everyday stuffs. I have read that people would also burn notes for heat. When a loaf of break costs 1,000,000 have you really made anything on your gold in terms of purchasing power? I cannot see why the price of RE would have remained fixed while everything else was hyper inflating. Just another story to make you buy gold IMO.
"I cannot see why the price of RE would have remained fixed while everything else was hyper inflating. " I have read that there was a problem with /for tenants in paying the rental or the rental keeping up with the rate of change during hyper inflation. Also problems with the rates and other charges levied on land owners under those conditions. Can you imagine the rates, water rates , land tax .etc charges due under hyper inflation of the currency?
