In 2008 I was shitting myself and had a hard enough time keeping my sphincter closed long enough to buy a little of what I could afford at the time. But that crash (and it was a 68% crash not a correction) went largely unbought by me and others because most people were full of the animal instincts of fear and self preservation. There were a few people who tried catching the falling knife, buying on the way down, me included, but the smart people did the prudent thing of waiting for an uptrend to re-establish itself before getting back into the market. Talk of buying debt is cheap in an irrationally exuburent market, imo, and as I said before is probably the biggest sign that a significant correction is pending. A bull market will buck like that, that's why its a bull and it is only the strong hands that can ride it. Buy on variable interest credit card debt at your peril. It is the monetary paradigm of debt that is being refuted by the surge in PMs. When central banks try to preserve the interest of global capital in thier fiat currencies buy raising interest rates, then debt holders will have a hard time. "Gold is the money of kings, silver is the money of gentlemen, barter is the money of peasants, but debt is the money of slaves." Each to their own.
gbickle, maybe coins would make sense for your risky strategy? I wouldn't do what you're doing personally, but if I were, I'd spend on coins so that there is a safer lower limit (legal tender/numismatic value etc..).
Im thinking about borrowing for a PAMP monster box, but wouldnt borrow more than that... each to their own i guess. Im willing to accept the loss or the gain depending on where silver prices go after i purchase. I don't see anything wrong with it, better than borrowing the same amount for a 'flash' home entertainment system or some other consumer product that some people buy with borrowed funds
This is about as scary as it gets. Even if going into debt to buy creates a profit for you-the mindset you have will erode your profits. I think of all the dumb things I did with money and debt was the biggest mistake. I now know that debt was only a symptom of my ill thinking.
http://theclassifiedfiles.com/ - Worth the investment if you are leveraging on credit cards. One word of advice - DO NOT rely on looking at past performance in deciding whether to use debt to buy PMs.
Well, I'm not a trader but a stacker, but assets trade within price ranges based on perceived value. In a bull market, these ranges rise along a trend line, or within an upwards rising trend channel, where the channel defines the anticipated trading range in the future. Eg. Silver today: Source:http://www.oilngold.com/analysis/commodity-technical-analysis/silver-confined-within-a-rising-channel-2011042217313/ A dip is when the price drops towards the bottom of the channel (this is the context for the acronym BTFD), but what occured in 2008 was a crash, when the established trading pattern was broken, the price fell through the bottom of the upward rising channel and continued to drop. In such an event, buying on the fall (catching a falling knife) is not smart (just ask me), rather, waiting until another upward rising trend is established is good practice. Hope that satisfies.
No problem. I stole it myself. But it does give a person something to aspire to, does it not, Gentlemen?
Geesh I borrowed to top up and have done extremely well out of it................this is what banks are made for so you can grab some of their loot and buy silver with it(a noble cause). If starting from scratch it is more risky. Get the banks money and buy REAL MONEY......they would hate it if they knew......a lot of people are doing it at the moment I would guess. The other side of the coin is debt is horrible and can get people into all sorts of trouble as we all know.
Also like to say the best way to buy is to pay cash but look what is happening at the moment.............is there time to slowly accumulate right now ,there was once but things have changed so fast.
There is one way you can reduce your risk if you choose to borrow to invest in silver. Those with investment property(s) can redraw and access the equiity in the house. This will increase the interest on the repayments, but the interest will be tax deducatible. A low interest debt, that is also tax deductible is much much better than a 18%+ creadit card debt.
I think at the end of the day we are missing some sort of irony here. It is the the fact that money cant exist without debt in the current fractional reserve system. This is the very reason that commodities like gold and silver will continue on there merry way. Higher and higher they will go till there is a fundamental change to the system of worldwide looting. Use the systems debt as a club to beat it over the head with. Buying something on 18 percent credit card seems a bit foolish however u could try the old credit card surfing using the introductory credit rate for transfers then swap after specified period to next card . And the interest u pay is tax deductible. Remember like in poker, if the money you are using is going to cause you emotional distress if lost, then you should not play those stakes. Borrow an amount your comfortable with. If you aint thinking rationally cause u borrowed to much, you will be unable to make rational decisions like getting to the toilet before shitting your pants during those violent swings
Buying into paper silver and using a stop loss strategy will lose you a lot of money in the long run. You shouldnt be buying silver for short term gain anyway ... it should be for medium to long term gains.
No it cant and it wont... yes let's ... unlike 1980, this time around the price has been manipulated downwards and not upwards.
