Why do we want it to go up again? I mean, it's nice, but it means our money buys less.. I hope it crashes and stays down for another couple of years. But I don't think it's going to next bump looks pretty good now.
It's bittersweet isn't it. At least we'll get a Headstart on realised inflation - Wealth protection disguised as profits. Still makes me feel all fuzzy inside.
I literally own a few gold notes, and some scrap that I've picked up. Other than that 100% silver. I think the purchase power of my stack is going to be significantly higher by the time this is over. More than just maintaining my wealth against inflation... I hope. I can't wait for the silver passing 50 thread.
I got a headache in the morning but it's not from the Gin, it's from my missus yapping and busting my chops. Why can't a guy sit peacefully with a glass of Gin and watch gold hit all time highs.
1. Because stackers need to be vindicated as being right - is in an inherent characteristic of our psychology. We are ingeniously correct when price goes up, and we blame everything else (including manipulation) when it goes down. 2. Secretly, we do not stack for long-term wealth preservation - that is a furphy used to mask our incorrectness when price goes down. We actually stack for profit, and love to gloat when market movements eventually make this materialise.... no matter how temporary.
So true... that is all it is. Also we are not protecting all wealth (maybe except for @Boyscout haha I've seen all that buying) just a portion of it. Worse if there was no asset class to give protection... Last time, I considered Gold & Silver, couldn't get comfortable and prepared with pocket watches. I'm going to start a thread to show them all at some point. They are as addictive as stacking. Also a lively forum. 10 years later ....Gold and Silver. Next time if I live so long I might be a geriatric crypto supporter. Still struggling with it@REDBACK
My wife told me to get a granny flat built in the backyard. She never gave me her preference for the type of bricks to use....They shall be shiny
Inflation is easily seen in everyday grocery products rising prices and when that happens the metals will rise naturally as they are and have been. 2 percent inflation is as fake as anything they under report and it's nowhere close to reality for most citizens. The bailout money directly pumped into the economy causes it faster than into the stock market of course. More dollars chasing fewer products. Everyone can now be happy they got the 1200 and didnt get the flu! Perfect!
I guess I didnt specify Americans haha, sorry. The bail out nation. But prices climbing fast here and people starting to talk about it. The lady at the store in line in front of my wife was talking about how much the price had went up on something and the cashier said "well that was the old days..." The lady said "no, it was six months ago!" My wife had a good laugh at that.
I think there's nothing better than having your savings or wealth protected from economic threats. It provides me a level of comfort and security that most other assets could never provide. Of course we all like it when out perceived net worth increases. We do stack for profit, but for some it's more than that. For me it's more than that. I run a business and that's my investment vessel. If I wanted to "invest" and speculate for profits, I wouldn't have chosen PMs to do so. I certainly wouldn't have bought physical and paid mintage premiums! I agree that stackers need to be vindicated as being right. I think that is true with any financial pursuit, especially one that has a live and varying price. Although I don't disagree that profits aren't a main driver for many, they certainly weren't for me. My entry into this space was driven by fear, uncertainty, and a healthy serving of opportunity. I'm yet to find a single person who doesn't appreciate it when their net worth increases, or when they have more perceived options and opportunities. I am equally challenged to find a person who appreciates their net worth decreasing and having less perceived options and opportunities. To say that people secretly don't stack for wealth preservation is spitting in the face of PM's and their function as a hedge, not only against inflation but against economic and financial threats. It dismisses the features of PMs that many people silently appreciate and value - protection and security. Protection and security provide comfort. Opportunity provides excitement. When opportunity decreases, people will turn to the comfort aspect of PM's. When opportunity increases, people will turn to the excitement aspect of PM's. The pattern you reveal is just a byproduct of human psychology. Profits are a feature of wealth preservation in an inflationary environment.
The above quote is Exhibit A, exactly the narrative I was referring to, and also the mask that veils the furphy. The notion of an "insurance policy" that brings comfort and security is the fall-back position when metal prices head south. The use of this position ensures the stacker can never be wrong (essential to their psychological well-being). If prices go down, they are said to be comfortable in their security. If prices go up, the profits that follow are vindication that they were not wrong. True. The conundrum for the stacker, however, is that this net worth benchmark unit of measurement invariably reverts to fiat $ - inline and in reference to the spot price. Ironically, this is the very unit of measurement they themselves veto as being worthless, yet have no trouble falling back to it's use when conveniently highlighting their "correctness".
It's not a correctness thing at all. When prices go down things are good and work is busy. It's time to buy gold and lots of supply and good deals to be had when no one wants it. When things are bad prices go up and the little acorns you stacked and packed away when times were good do their thing and hold their value without worry. Theres really nothing to prove with it. I wouldnt trade my stack for worthless fiat at this time or any other and it's not about the numbers for me. Just the safety.
