Hello fellow Stackers, My first post, yay! What a great PM community we've got here, and right here in Australia I live in Queensland and I am only a few weeks out from finally being able to roll over the balance from my old retail fund into my new e*superfund SMSF. I've been trawling over the discussions throughout this forum to get some ideas as to what is the best approach. I just wanted to put it out there what decision I have rested on before I've locked myself into anything. Hopefully you more experienced stackers out their can let me know if you think I'm on the right path or not Anyway... I've settled on investing entirely in silver as opposed to diversifying into gold as well. This is based upon my opinion that silver is at the very least going to shadow gold upward. And if it's shortness in supply due to being an 'industrial' metal is to be believed, it could well be on the cusp of an explosion in it's pricing. As opposed to the relevant abundance of gold as a 'luxury' metal. For storage I am currently looking at using the long term storage options my bullion dealer is offering. This is probably the grayest area for me, as I've heard so many conflicting ideas on what is the best solution. My biggest concern with taking this option is that as the price moves downward, before it's meteoric rise later this year or early next year (fingers crossed & a wink) the likely hood of the supply drying up soon is increased. I'd hate something horrible to happen like finding out the dealer has sold my silver and replaced it with an IOU. Hell, that's what SLV and the Comex are for. If I choose to vault it in a safety deposit box, I understand the banks are the safest option for that. But what about their exposure to the euro crisis. How would I be if they suddenly closed the front door! Maybe my concerns aren't justified. Or maybe there are better options I have not yet considered. Anyway, thanks in advance to those who reply
Hi there Emanance and welcome! You might also want to ask to join up with the SS-forum sub-group"SuperStashers" that meets in Brisbane (see this thread: http://forums.silverstackers.com/topic-22639-se-qld-smsf-meeting.html) - there's a dedicated site for it too here: http://www.superstashers.com/ Personally I'm the other way around, our SMSF is gold-skewed, with Silver as the volatile hedge, but it all depends on age; purpose for SMSF etc Regarding storage, frankly I think a bank safety-deposit box makes as much moral sense to me as entrusting a Paedophile Group with looking after childcare centres .... but only my opinion. I won't disclose here what we do with ours, leave that for offline meetings. Hard to trust anywhere really if you really think that SHTF is a real-world high probability - I'd rather be holding it in my hand, and in that scenario, who needs a freaking SMSF vehicle anyway!! There is a Reserve Vault in Brisbane, though I saw some press recently about some odd goings on, so better to ask other members who have used that facility. Probably this topic should be moved to the SMSF sub-forum?
Thanks Macros for the links. I am in Brisbane actually, I'd be interested to catch up other people interested in PMs & SMSFs. Since buying a my first bit of silver earlier this year, I've not many people who I can talk to who 'get this'. My poor wife thinks I've gone slightly mad LOL I hear you on the banks. To move the topic, is there a button for that or should I just repost there?
Don't worry I'm Sure Anna thinks Ben is very sane... Best to be insane and stack the phys then drop $$Fiat$$ from a helicopter
No worries - luckily my wife is a stacker too! (ie we're BOTH mad haha). I saw you were in Brisbane hence the mention - I'm also a member of that group and there are some smart SS members in there too (the Brisbane meetups are worth it too - keep an eye on the meetings & events threads) The note to move the topic was not aimed at you, sorry about that misdirection - just for GP or any other admins reading Cheers! (see you in Brisbane perhaps)
Oh it says my location right there. I'll get the hang of this soon. Seriously thanks for the link to superstashers, I just registered in fact. Next meeting is in August, perhaps I'll meet you there. I guess we get an email with an invite? I think in truth the madness of this current global economy lies with the fiat system not us stackers
http://www.superstashers.com/ See you there! Just received my paperwork for esuperfund as well, filled it out this morning and will get it in the post! Also looking at silver, but as the banks are all buying gold I will get some of that too. And some artwork, just because! We have some good guest speakers coming up at the next meeting and although our last speaker absconded to Israel there have been some good talks about how to set up the funds and some opinions (but not financial advice) on some of the areas where you can invest.
I know! I thought I spent long enough signing the forms but the JP was fillling in more details than I was. I managed to get a Passport, medicare card and driver's licence all on one page for her to sign in one go but we still had to have duplicates of that, for two people. Anyway, it will be in the post tonight and then in a month or so I will be able to claw my money out of the hands of the incompetents who lost most of it and I can let this incompetent have a go!
@jislizard re: artwork, just make sure you contact esuper before you buy artwork, to get their "approval" as it saves hassles
Ok, thanks for that mmm....shiney! I was just going to commission the artist, but much as I like her work I can't afford to buy any from my own money so I had better get it ok'd first. This is one of the things we discuss in the Super Stashers meetings. It was raised a couple of meetings ago and I have not fully looked into it yet.
@Emanance. Are you seriously putting your whole fund into Silver? Don't know what you total $ investment is ? But you either have two big coconuts or one really good crystal ball.
Maybe he means, of the precious metals component of his SMSF, he will just be going with silver. Perhaps he has the rest diversified into other things. All in silver is definately taking a risk but if you believe the world is heading down the wrong path then silver may be the way to go. Also, he may well have investments outside of his super. Most of my SMSF will be in silver, however I only have $30k because I am an immigrant, but I have properties. $30k in silver is a drop in the ocean compared to my other investments and my personal silver holdings, before the boating accident, would have been heading that way (at least, when it was $50 an oz). You either believe silver is going to da moon or you don't. Let's hope we are right!
Hi Kawa, Seriously, yes! unless someone can show me a better option. I don't think it's anything to do with crystal balls or balls in general. I just think that the state of global finance has reached a point of such epic mismanagement that 'money printing' in one shape or form is about the only dead end option left for many nations (see: http://kingworldnews.com/kingworldn...aunch_Two_Trillion_Euro_Bailout_Package.html). I don't think this money printing will be the end of the world or anything like that. it'll be just the end of fiat being used in global trade. Also with silver now testing $26 oz and recent talk of it trending even lower, I think we could see a serious supply issue with physical before the manipulation games have played their last round. Just imagine the effect these shortages will have on industrial users of silver. I just hope my SMSF is set up in time.
