Silver over the last decade has returned on average over 20% per year. Thats includes some years where it did nothing. It even includes a year where the price dropped by half (2008). If you are buying now and thinking the price will move to $50 in the near future, that's still more than 50% return! As far as I see it, the fundamentals that have caused the silver price to rise are still intact.
Sell it on 29 February 2012.... you only have one chance every 4 years before the space ships come back to replace any faulty equipment with the stores of gold and silver held by the USA in sector 69..... :lol:
hmmm. I have to put my two bobs worth in here.. getting out????? Fiat is what you want to get out of!!!! Just the idea of have large sums of it in any form of account depreciating before my eyes sends shivvers to my core. Silver and gold is where it is at. Call me a conspiracy nut or whatever, but fact is, these metals are the only thing worth trading a good or a service for. Until we go to a resource based economy, I'll be converting the crap they pay my wage into ACTUAL money. Many people here that are FAR more experienced than I, talk about silver and gold in the LONG term - 10 years +. Some stack to cash in on fiat, others stack to preserve wealth. I do it for both. You 'cash in' when you want to buy something you need, ie holiday, new computer, car or house etc. You LEAVE the rest of it alone! It will be preserving (and massively growing) the labours you have put in at your job or business. IMO, people with excessive amounts of fiat in their accounts for longer than they need to survive without an income for 3 months, and have read Mike Moloney's book or have been told the crux of it are INSANE. Enough of my mini rant! Enjoy the ride for as long as you choose and welcome to SS. Read and you shall learn. PPSS
HI Wizz1. I think you have made a very smart decision. Getting in now and holding / adding to your position of silver puts you in the game... and.. i think the game is about to get verrrry interesting. Congrats.
I thought I'd chime in here with a question about storage too. I've got most of my silver stored in my father in law's gun safe at his house. Does this seem like a safe enough place to keep it or is it better to put it in bank or safety deposit box?
I have a gun safe at home. I think its the worst place to hide anything. All it's gonna do is keep an honest thief out. The ones who break and enter are usually equiped enough to open a gun safe and it would be their main target. Plenty of other places to hide it around the house that are safer then gun safe. Be creative and stay quiet about physical.
There are mixed opinions on them. Locked boxes are a target. If you see one, you think that anything held in them MUST be worth getting at. However, they do add a challenge for the crim. They either have to move it, or crack it open to retrieve the contents. Neither of which are easy tasks, and both consume too much time for your usual smash and grab. I keep mine inconspicuously, like under the insulation in the roof or in the filing cabinet under a 'study' tab or something insignificant... Crims are going to go for the stuff that is easy to carry, and easy to fence... they're not going to sift through your filing cabinet to see your phone bills (though they may look for your bank records if fraud is their game). Just make sure to leave a PS3 next to the TV, a laptop on the study desk, and a few cheaper items of jewelry on the dressing table in a nice looking box.... They will probably check the pockets of your clothes in the wardrobe, and for the family airlooms tucked in the sock drawer, but aside from that won't go looking too deeply if they can fill up the backpack with items just laying around. Oh yeah... and if you do get robbed, don't forget to throw out your toothbrush. Probably been stuck up someone's butt!!
not sure why you think that selling "too late" is a potential issue going forward? The financial world/mess we are in today in now way resembles the situation in 1980 when the Hunty bothers cornered the silver market. ues, back then the silver peak was very brief. This cant and wont happen again...
Umm, excuse me, but are we not already in a resource based economy? ie. we trade resources in the market place
Just to be on the safe side - NEVER give even a hint of where it may be hidden ... I think a bank safety deposit box is one of the least safe places. You need to have it offline - which means away from government and banks - they are enemy no 1!!!
i think he actually meant a resource based currency. that is the currency is backed by something of intrinsic value. currently its back by nothing but debt and faith in the system ... and enables the elitist bankers - who lend money to the people at interest to live off the labour of society. We need money to be backed by something of value. through the ages the only system that have ever worked long term is money being back by gold and silver. thats real money. what we have is currency - which is backed by nothing but lame promises by people who continue to counterfeit the currency and thereby steal whatever's left over from us after the government has stolen from us via taxes.
Loose lips sink ships. Just don't tell anyone about the location. I'd sooner trust my own mouth over a bank/storage facility. Blaming yourself for a screw up is easier to handle than wanting to ring someone elses neck if something goes awry. Does he know what you have in his gun safe? Can you trust him? Does he have a key? Has he told anyone else? These are just the basics.. the other option is the old 'don't put your eggs in the same basket' .. put some of your silver in various locations that you trust. If by some horrible misfortune, someone found it, broke into it and stole it, only a small percentage of your stash would be gone. ..to be honest regular thieves wouldn't even have a clue as to the value of a silver bar.. you could leave it on the counter for all to see and they are more likely to take the change off your bedside counter and a pack of durries than a kilo bar on the table. :/ Peace and safe hiding!
my answer - no, we are not in a resource based economy. We trade something worthless (fiat) for something of value, goods, commodities, houses, labour etc)/ Resource based economies function where there is an abundance of food and goods for all to use equally. To do this, population must be adjusted and resources in absolute abundance so that even attempting to force someone to pay for them would be ludicrous - ie who would pay for the air you breath? From thevenusproject.com: "Simply stated, a resource-based economy utilizes existing resources rather than money and provides an equitable method of distributing these resources in the most efficient manner for the entire population. It is a system in which all goods and services are available without the use of money, credits, barter, or any other form of debt or servitude. Earth is abundant with plentiful resources; today our practice of rationing resources through monetary methods is irrelevant and counter productive to our survival. Modern society has access to highly advanced technologies and can make available food, clothing, housing, medical care, a relevant educational system, and develop a limitless supply of renewable, non-contaminating energy such as geothermal, solar, wind, tidal, etc. It is now possible to have everyone enjoy a very high standard of living with all of the amenities that a prosperous civilization can provide. This can be accomplished through the intelligent and humane application of science and technology." The most difficult thing to achieve is to snap people out of this idea of how much people are worth according to what they can provide. Once consciousness lifts, and we overcome 'money', only then will we get to the next stage. It might seem silly, but we can't keep on mining and polluting indefinitely. Whether is 20 years or 200 years. Things have to change. It all starts with an idea and a new way to think. PPSS
Hey Yip, I meant what I said = Resource based economies (explained in earlier post). What you are saying is also true - ie. having a currency (while we are using money to trade for things) backed by something of actual value. As we all know here..silver is GROSSLY, DISGUSTINGLY, HORRIFICALLY UNDERvalued.. I think right now, even at the moment, if silver was at its true worth, I'd be living VERY comfortably! So.. its a great time to stack and a great time to add to your existing stack - moral of this story of silvers' undervalued nature is buy it all up. Swap trashy cash for metal..go bananas.. sell cars, houses..anything you don't need right now ie.. if you can live without your caravan for 12 months..sell it and swap cash for Ag... then buy another equiv caravan or whatever 12 months down the track..you will have left over silver to keep in your stash! Aim of the game is collect those OUNCES! Happy days for any silver stacker. Happy days.. Of course..it's all IMO ------
yes. yes. yes. no. and I have the combination too. I do that as well for the same reasons you mention. That has crossed my mind too. I've got a 10 oz bar or two sitting in a display that has other crystals, rocks, a couple coins, and neat oddities that don't look at all valuable. I spread the metal all about, actually.
No, but it will be back to real money - i.e. gold and silver. This paper crap in use for the last 4 decades backed up by nothing is on the way out. the only people it benefits are the thieving barstads who own the (privately owned) central banks!!
