Haha why? I have served in the singapore army and the airforce is known as the chairforce there cos they're p.t standards are ridiculously low and they bludge, I did however apply to be a pilot but they said I would need all A's in school to be competetive , so i choose the infantry, personally I have a sick sensation to go through suffering, pain and hardship because at the end of the day that is what you remember the most and its what helps you get through future obstacles in life. Plus the way things are going it looks like the only stable job out there, im only going in for a 4year service here so when I come out im going to need to figure out what i do, well ill do that when im in the army to obviously, but feel free to sling me some ideas that = $$
It's the journey that's important. Even if you sold your silver, you can't lose what you have learned and what you (should) know about money and the money power now, less than 1% of the population knows. But that might be changing as well with this Libor scandal.
Don't feel to bad , One of the guys I play hockey with ,has some paper silver His been buying up since the $40 mark 400,000 oz :lol:
While it's true that there is no such thing as the goose that lays the golden egg, my own thinking is this. Any commodity you care to think about is continually re-valued by inflation, and will always get more expensive, that is, will always take more currency to purchase, as time goes on. If we could have bought bread or milk at 1960 prices, somehow preserved them until today, then sold them or exchanged them, we offset some of the effect of inflation on our savings. Well, Silver and Gold are like those commodities, except they don't spoil over time. An ounce of 50 year old silver is as good as an ounce that was mined last week. And so it will be as time passes. The economy may do well, or it may suffer collapse, but over time it's likely that the prices of all commodities will rise. Silver and Gold will, more or less, follow. If they drop severely, then the relative value of the dollar must be high, and we should all be doing pretty well so long as we have income. If the value of the currency falls rapidly (which has happened in the past), then metals will be the 'unspoilt' commodity that will protect a certain amount of our savings. Think of it like you would insurance. Do you expect, if nothing unfortunate happens, that you will ever get all of the premiums you pay back? No. But does that mean you'd be without insurance just because you don't expect anything unfortunate to happen? It's a similar thing.
Right as you are about to do this, would be a good signal to buy some more as it would be the bottom of the bear market. if you haven't thrown it off yet, then she's going lower. When there is multiple posts like yours i may consider buying some more. Between $15 - $21 is my expectation.
Seems like there's a few speculators wanting easy gains, and not so many investors looking at fundamentals. I'd argue that most newbies to investing their money start out as speculators. I did. Speculators are the weakest hands of all. They are also a sign that a bubble is gaining momentum. Silver stackers should take a bit of comfort in knowing that at least silver didn't get to bubble proportions quickly, otherwise it could well have gone sub $20 when it blew. It has still been a rough ride though.
When I started stacking, silver wasn't an investment, it was meant to increase in price with inflation. It wasn't wealth generation it was meant to be wealth preservation. I was very happy when it went up, I will be even happier when it goes up again.
quite right. Silver is speculation and has been a 'commodity' for almost 150 years now and not 'money'. It's just an increasingly rare and concentrated commodity to hold, like platinum etc. Gold is for saving longterm and to hope that it maintains the purchasing power it had when you collected it - and mostly it does. (be assured fiat does not) So if you wished to do a GSR trade I'm sure there's many here who'll entertain a trade to gold. That removes the volatility of silver. Also probably crystallizes your loss, but time will mean that gold will mostly likely rescue that loss for you. No such guarantee with silver - though many here including me would say just hang on. One day it will make you laugh at the terror of losing 'only about $5k'. But if you wish to get back to sleeping at night and to stop 'troubling heaven with your bootless cries', then play the GSR.
As i said earlier, people will believe and hear what they want to hear. Maybe true, or maybe not, however there is no guarantee.......
booty, I think you need to ask yourself why you invested in silver. If it was to get rich quick, it was probably the wrong reason. If it was to diversify with a precious metal with a ton of uses that will always be worth "something" , and will provide a moderate rate of return in the long run - then you made a good investment. If you are of age that you are enlisting in the military, I suspect you have a lot of years to hold out.
The moaning masses! I read the posts and I think it is really quite funny. last time I looked I did not see a man with a gun standing over me and forcing me to buy PM? So why did you buy in? The answer is obvious you were looking to make a quick buck. This is the same mentality on the stock market: buy in low and make a quick buck and get out. Sometimes that works most times it fails badly. I think you need to question why you bought in to silver and gold. For me it is insurance. I don't expect to buy an insurance policy and cash it in in a month for a profit. My policy is designed to protect me if things or when things go bad. We all have car insurance and all of us will claim one day. The same for PM, those who hold it will cash in at some point in the future. If you don't think this PM market has any basis and is going nowhere, sell out! No one is stopping you.If you think silver will be down to $20 then sell now and take the profit. Use the cash to buy stocks or stick it in the bank and earn some "good" interest.
In the Army you are going to get a lot of injuries (comes with the job), after three Afghan deployments I can tell you it is not a nice place, chances of something happening are several hundred times higher than the RAAF, food is better the RAAF, they are treated better, money is the same, they live in rooms on base during exercises not in a hole in the ground, they shower everyday not fortnightly, they work gentle men's hours and are more "relaxed" about everything. Lot of respect for the infantry but look after yourself, one thing about defense now as soon as they are done with you it's a pat on the bum a handshake and your out the door...... With the RAAF you have a much longer "service life" and you will come out of it better at the other end. With any defense job though the money is pretty good, try and get as many qualifications that are civilian recognized as you can, with infantry you may get a lot of weapon qualifications, some range qualifications but not a lot that transfers over to city street. You should be able to save a fair bit, put it into silver, gold, property, shares or whatever you want but set yourself up for when you get out.....
As it all may seem pointless I believe the training in combat units especially the infantry are superior to any other civillian qualification you can get in the military, as you will gain tremendous mental strength, it breaks the "I cant " barrier in your mind, it teaches you how to push yourself to your body's absolute max, it teaches you to adapt to your environment and surrounding and makes you comfortable anywhere, it builds a strong character that never gives up until the goal is reached and of course self discipline. Whilst you don't earn paper qualifications, you get the qualification of being highly competent to be self employed.
The price of silver is extremely volatile. If you bought a significant amount of metal without knowing this you need to do more research. And you shouldn't blame the "advice" of others, you need to accept responsibility for your own actions. My PM stack is probably down 7-8% from the peak. Am I concerned? No. Am I concerned if it goes down another 7-8%? Not really, because the fundamentals don't support a complete collapse in price. If I sell my PMs what will I do with the cash...? There's nothing I'd exchange it for at the moment. I'm heavily weighted in gold and only speculate in silver. I've probably been somewhat lucky with my purchases as I didn't buy $40+ silver and have missed most of the spikes in the PoG. Five grand is a small price to pay for a well learnt lesson. A relative of mine blew around 30k during to dotcom boom (today would be closer to 70-80k?)... that's a tough lesson. Even worse is for those who bought property during the 2007/09 peaks... now that is gambling!
Hang in there BB you should be fine in a few years or you can sell and maybe only lose 20 -25% , not so bad , it depends on what you bought too ,maybe some of it will be more desirable.
