I have finally bitten the bullet and decided to introduce myself. I am currently staking at my silver stack (going on 500oz) and i decided to write a story / Rant Let me open my post by saying that i am in my early 20's. i grew up in the era of MTV and silly 90's boy and girl bands, my generation as a whole collectively has never seen "the worst of it". while it would be assumed that this is a good thing (and it is to a certain extent is it) it has unfortunately created a large fluffy white cloud which has been over our heads since we were born and makes us completely oblivious to the destructive black storm cloud that just lurks over the horizon. When i speak to my friend in regard to the economy i usually ask them 3 questions. My first question is if they remember what price a 600ml coke was when i was we were teenagers (14) there general response is accurate ($1.80) i then proceed to ask them what its worth today. which again usually leads to an answer around $3.60,my final question to them is what they think a 600ml coke will cost in 10 years from now, unlike the two last questions the answers vary considerably ranging from 3.60 anywhere to $10. i sometimes ask the people who answer some follow up question one of which is why does this happen, why the hell does the price of a 600ml drink go up like this. im sure that the ingredients have not change, nor have they improved the packaging, i would say 98% of the people of similar age to me who i ask that question to give the same general answer... "its just the way it is." which i then retort with why does it have to be that way. I was one of these 98% when i initially got asked this by my dad. as i am curious in nature i decided to find out why this was. which led me to where i am today. i feel sometimes like chicken little when i try and explain why i invest in PM's or try to detach myself from fiat currency its astounds me that my fellow Gen Y'ers are so complacent when it comes to the topics of fiance and world economics at large. i often wonder how these people will react when times get a little (or alot) tougher in the years to come. I believe its essential for people my age to do everything in there power to protect our fledgling wealth now and into the future. its not uncommon for me to hear tales of my mate blowing a weeks pay on a big weekend or buying a new TV on the old plastic. at work i am known as the "Jew" (as in someone who dosent spend money) i quietly nod in acceptance at this nickname as i know that there will be a time where my friends will all also be "jews" but the difference will be that i will be a well positioned financially of my own making as opposed to being in a financially precarious position through no fault of there own. for now ill keep being jewish chicken little , as my critical thinking my help one of my friends or peers see the silver lining "mitch"
Welcome aboard mate and might I say you are wise beyond your years with your assumption! I knew many people on a personal level who lost family homes in the last recession on 100k homeloans, nothing like the 300k+ average we see today. Whilst much of the nation seems to show no fear to debt, I recognise and appreciate the danger of it and understand that it's a rigged game. Being the 'jew' in this debt saturated environment is actually playing it very, very smart I believe. The era of the debtor is coming to a close and as all cycles turn, those who think they're rich because of their commodity position will rapidly find out how lethal that massive ball and chain around their ankles is when they're forced to swim for their financial lives. In usual fashion, the mainstream media will run stories over those 'poor' people who borrowed until their arse bled, following the 'great Australian dream' but the end result will be the game for one simple reason - people are stupid and never learn. Keep clear or the debt mate, stack the metal and sit out on the sidelines. I've been stacking since Feb last year and because I only buy after living expenses, my stack is small. I dream of 1000oz before the shit hits the fan, but realise it may not be possible if I'm to do it honestly (ie without leveraged debt or a windfall), but I sit back on the fact that what I DO have, I have 100% ownership of. You will take great pride in it, no matter how much you get, I assure you! When the shit hits the fan in this country and speccies are crying foul, those who lived within their means will be the winners. Be aware though, there's a number of debtors, speculators and rentier capitalists on this forum. People investing in gold and silver do it for their own reasons. Some for self preservation, some to just ride the next big cycle. Some will acquire their means a little at a time, some will borrow up big and buy a position at the expense of the saver. It can lead to confrontation here at times, so I try and keep the rants on a short leash. But as with all public environments, you'll get people from all backgrounds and ideals, regardless of our common interest in gold and silver. But it sounds to me like you have your head screwed on right and will do well, come what may. Welcome aboard Mitch, good to have people with your mindset amongst us.
Welcome Mitch. Enjoyed reading yr piece. You are way ahead of your friends already. I am also sometimes known as the "Jew" in my circle of friends LOL.
Ha! Take that you practitioner of sensible financial management! Nerr! (Calling someone a "jew" seriously has to be one of the dumbest insults ever).
Mitch your miles ahead of me & I'm 46. No one ever asked me a question like that but i wish they had, maybe i would be in a lot better position than i am now. I stumbled across one of Stellaconcepts videos on youtube (like being asked the 3 questions if you like). I think the difference between me & your friends is I've seen the hard times, lost so much, been out of work after being on a good income when the GFC happened. So when i saw the video it made sense from personal experience, hence a lot of investigation & a decision being made. If all someone knows is the good times its hard to get them to realize that a situation that they haven't experienced first hand could, would or will come to be. We aren't taught finance's in school (in general) of any value other than how the system "works" now. Most parents don't know or encourage their kids to look outside the box that they themselves live in (just look at how few people are aware of the current situation). Basically you don't know what you don't know, normally its more about the people & books you have around you that open your eyes but many have been conditioned to walk around blindly (programmed not to question the system). This is not to say they are any the less intelligent or lesser people they just haven't gain enough financial maturity yet. As long as you have that's all that matters at the moment enjoy your friends just the same, offer advice if you see their eyes opening, forgive them if they don't understand, at the end of the day it's their choice & not your responsibility.
This thread's a total crack-up Pokerhaust, when it comes to selling the concept of the reality of PM's, our currency, the economy etc, you have to get your message across within 60 seconds. That's what successful salesman and marketers have discovered. And when you work out a sales pitch that fits into a 60 second bite, can you let me know 'cause I leave everyone staring at their shoelaces when I explain in 60 seconds how we owe the RBA a debt that we can never pay back. I like your 600ml coke example. Another way of using it as a tool is to calculate how many 600ml bottles you could've bought with your weekly wage 10 years ago and then calculate how many you can buy today with a weeks wage. Including pay rises AND inflation it shows we're constantly falling behind with our 'real' wages and purchasing power.
Welcome Mitch I recently turned 40 and have only just started stacking and it makes me so damn envious to see someone your age already sitting on 500 ounces lol well done and welcome aboard
the 600ml coke price is once thing i've allways had an interest in too, being a lover of coke. When i was in highschool it was around 1.60 :S I allways got the "5c" fish and chips story from my parents but it never clicks into place till you see it your self One thing that inflation has taken away from me is the maccas 30c cone, atleast it hasnt gone up too much
Nice stack, Pokeraust I gave up telling friends and acquantainces of the benefits of stacking long ago. I think it was when they would laugh at me and make jokes at my expense when I would patiently and courteously attempt to explain the considerations in investing in PMs. This would generally be followed by me patiently and courteously telling them to F$%^ off. After a while it seemed that people considered me not very smart and pretty much harmless and would speak slowly to me me when talking to me. Admittedly this position was cultivated by me when I discovered that it was less hassle to act simple but go about my own business and not care what people thought of me. At times I even took it to the stage where I would overact my simpled-mindedness. e.g. Friend: Residential real estate is gonna rocket in the next 5 years Me: Ummmm ... (long pause) .... I rather like prescious metals Friend: Maaatttteeee, you've gotta be off the planet, that's a recipe for disaster Me: But any residential real estate investment in the near future may likely be negatively-geared and with interest rates likely to rise and most investors being in the less than top tax-bracket, any tax subsidisation will be less and therefore more to pay out of your back pocket, unless you capitalise your interest, in which case, the rate at which your debt grows may exponentially be greater than any possible rate increases. Friend: Zargor, you just don't get it, do you? Me: Eeerrr .... no ..... but then I don't profess to be an expert in real estate. Friend: That's OK mate. But we all gotta make our choices don't we? Me: Yes Friend: Yes Me: Ummmmmm ... (long pause) .... I rather like your girlfriend At the end of the day, you can listen to what people say but the decision is yours and yours alone. Zargor
Welcome mate. Don't worry too much waking up your friends. Most sheeples are happy to stay as sheeples. They've been sheeples all their lives they got to be comfortable with the idea. You'll be surprise how many people I talked to understand what inflation is, and where it comes from, but decided NOT to do anything about it. They've been robbed for so long, it becomes normal for them. Even after I told them about Gold and Silver, they still don't take any action. Their reply always, that's how it is.... what can we do about it...? :/ :/
Thank you all for your replys, talk about making a bloke feel welcome. Im glad im not the only one having issues convincing peers/mates etc in the finer points of what we do, and why we do it. im in the process of making a youtube clip on PM's for dummies so stay tuned for that. i hope to be a valuable part of this community as i feel that its going to get quite large sooner rather then later and there will be a time where i am a "veteran" of the forums and someone who is in my situation now needs advise. Hopefully i will have learn t enough by then to help them. "Mitch"
Welcome pokeraust and great stack and attitude in/for life for any aged human being let alone someone who grew up in financial 'woods'. That aside, Tell us now a bit about poker? Is silver by any chance the capital carrying medium from month to month ?
Welcome to the boards PokerAust. Looking forward to the newbie videos. I'm planning to make some videos myself to wake some other people up overseas. In relation to Thucydides79 question - Poker =D, its a game of skill and can be used to make money if you know what your doing. I fleeced some fish at star city last week. Made enough off the 80-200 buying table to buy 1kg of silver in a few hours. (PS, I have been playing for 8 years reading alot of books and playing online daily). If you don't have the time, don't get into it. Its a highly mathematical game, and probably the only game where you can make money if your talented. It is also a game of high variance, so you need good bankroll management skills, in addition, good analytical skills (ability to read and accurately define hands base on the situation presented). At the moment, I play less poker now and more silver research / economics research. Slam
Nice one Slam. I play a little poker online as well, but whilst I can play the mathematical side of the game no worries, I have (in general) shitty luck. I often lament I'm playing the game of life with a 7 2 offsuit with the way my natural luck plays out
Hehe, I generally don't rely on luck in poker. Its a long term game (also a zero sum game) where your luck averages out and the maths dictates your profits. 72o gives you at least 33% chance against an AKo =D, so its still 1/3 games you win. But obviously you don't want to get your money in, if your paying 1:1 for this. You want to be on the 66% side consistently. Slam
I read an article once about the fixing of online poker - they sorted out those problems I assume. Something to do with hackers exposing all hands and using mathematical probability to disguise constant returns.
I don't play online as much now, I feel that its rigged; although I consistently make profit, only at a slower rate. (being a software engineer myself, I can tell what they are up to. But I have no proof). So I only play on live tables, also the games are easier at the casino, as the players are much weaker then online players. If anyone wants some reading material on the game let me know, tip don't get addicted to it. Also if you want to play seriously you have to invest a lot of time into learning the game to become good at it. Slam
