If silver went to 10,000 then a house will proberbly cost a few hundred billion, its all reletive value. Don't be fooled into believing silver could rise sharply to 10k without other asset classes moving significantly as well.
Oh i know that, but I was just asking the question hypothetically speaking. $10k in today's dollars not post-apocalyptic money
..At 20.. brilliant effort. I'm 27 and am pretty stoked I got in in my 20's. I think you will have that much cash, 'a told you so' won't even be worth your effort. I bought in last year and already doubled my money. So in as little as 12 months, I'v already got the 'ha ha told you so' in my holster ready to go. I was lucky enough to buy 4 kilo kooks for $500 a piece.. to think EVERYONE at work---(I was working at one of those gold forsaken 'Gold buyers Australia kiosks') was trying to tell me silver sucks and how am I going to sell it - this was coming from the brain dead area manager. My advice is to stack HARD and as FAST as you can. This year will be a doozy. I was actually contemplating on getting some of those interest free for 12 months credit cards and just at the end of the interest free period selling part of the stack to pay it off. This is the year to do that.. but there is a WHOLE other thread on that topic including all the pros, cons and risks involved.
I guess I got into the silver market kinda late, I got in in mid december 2010 but I was paying crazy premiums on 10oz bars ( best I could find was like $5 over spot). I was/ still am a newbie but I guess I learned from my mistake and I look for silver priced closer to spot. I haven't got to the "told you so" point yet because my average cost per ounce is $34.55
Maybe, maybe not. Look at the current climate. Value of fiat is dropping like a rock against commodities like Silver and Gold. This is how inflation works. Perfectly conceivable to have commodities inflate in value and leave fiat well behind. Houses, being well overpriced due to easy credit, can and have easily crashed like a bitch against gold over the last decade. Silver is now starting to play catch up, but still has a long way to go.
This was my attitude for a very short period. But, better late than never. I doubt I'd care too much that I bought in at the low $30s when silver is 3 digits. Although buying in at single digits would have been nice. BTW, $5 over spot? Ever check out Border Gold in BC? Very low premiums.
That's it isn't it? For Silver to get to 10,000 The final realization that silver is more rare than gold would invert the prices. Silver should logically dominate gold by then.
I'd stop working. Buy a house. Put enough money in a savings account to earn 50K a year interest and live off that. Then Id write up a list of all sorts of exciting activites...an do them one by one I'd keep investing the rest of the money to keep my brain sane.... I'd die happy..
I don't know what I would do. My life is pretty perfect already. I guess at the very least I'd be able to convince my parents and my best friends to relax and stop worrying about money so much. Probably pay off my mom's house. But I think I would keep working, at least part time. I love my job.
I'm a medical laboratory scientist. I work in a hospital laboratory, in two different areas. In blood bank, I find compatible units of blood for the patients that need transfusions. In microbiology, I culture and identify bacteria that's infecting the patients. Probably not everyone's cup of tea but it's perfect for me. I get to be in the lab, pretty much working on my own or with one or two other people, not have to deal with the patients directly, just the nurses. I get to work with my hands and my mind.. and it's fulfilling cuz I know I'm helping people. Plus I get to wear a spiffy lab coat.
If silver went to $10,000 it would be because of anarchy and a breakdown in society. I'd be very worried with silver at anything like that.
