Thats the exact reason why I'm stacking as much as I can. I want to avoid over excessive real estate debt as much as I can. If I can sell my Silver within 4-5 years and buy a house needing only $100-150K loan for the rest of the house I think that's pretty manageable (don't know if my intended 1000oz target will be enough though) I may have to keep living at home with the parents though till I'm 29-30 though, thats not as manageable LOL. Who knows what the future will bring, stacking Silver is a good idea, that much is clear
Yeh but.....over the last 10 years that borrowed money has payed itself back and some (even with interest payments). Even if you borrowed $400k for the house but the value increased to $900k over 7 years. If you sold, the $500k extra over minus initial deposit, interest, duty etc will still end up a few hundred grand clear. If you had invested your initial deposit into gold only, even though you didn't borrow and it grew at a little quicker rate then RE, the extra leverage you didn't borrow has let you down. Again, we didn't look at the rental return on your property. In principal I do agree with you, however we cant deny that people have done extremely well from RE and it's easy to see where the public get their bullish mentality.
Your close friends that value your opinion will listen and ask questions. Those who are closed minded won't. Don't bother trying to talk to people who don't want to listen. Simple. We all make our beds and have to lie in them. Don't waste your time on it. Been there done that.
I am very reluctant to tell to many people that I stack simply for security reasons. I also had an interesting experience when I showed a very close friend of mine a 1 kg tiger, that got us talking about PM's and he went out and spent $35k and bought 10 5kg bars. I then thought if silver goes backwards I will really regret mentioning it to him, fortunately so far it has been ok
Stacking PM's is similar to stacking Prep's. When stacking prep's if you tell people then you are a loon. But should something (hmm, flood / earthquake / Tsunami / nuclear disaster / civil unrest) happen and prep's are needed those people will remember you. Same with PM's. They may knock you at the time but come the time that they are desperate they will remember that you have PM's. Desperate people may do desperate things. Every single person that I preached about PM's or about Prep's either openly mocked me or at best humoured me. Every single person that I preached about Prep's remembered in an instant my words when they were faced with a crisis. I should imagine that it will be the same with PM's All being well I'm emigrating and you can be assured that I will be keeping my big fat trap shut re: Prep's and PM's.
Another thing I noticed about people I've mentioned Silver too, is their first response is always "I cant afford that" and then go out and buy something like a new carpet or bed or some other thing that they just want to replace, thats not even broken. They're not even interested in finding out more. maybe its because they associate Silver with Jewellers and unless they're buying a watch or ring for a special occasion, thats the one shop window they wont even glance at in the mall. I think that because they dont know, they have this idea that precious metals falls into the "I cant afford diamonds/ferrari/gold bars" bracket and if you even slightly mentioned the Bullion word, they would only think of "The Italian Job" and associated thieving exploits. But, they will always look in the Estate Agent window and say "look at how much that property is worth up the road from us". Its only a matter of time.... Like I said before, I've mentioned it once, up to them now. Rockin'
Yeah... I heard that alot. A friend of mine said that the other day and then he went off buying a brand new iPhone and iPad. For some reason these people think buying gold/silver is "spending" money. They're spending their money on a hunk of metal that doesn't do anything, while buying the latest gadgets is considered a "good" spending.
Here is something I found on the subject and I thought I'd just share... This was written back in Nov 2010 http://tfmetalsreport.blogspot.com/2010/11/absolute-advice-for-relatives.html Onwards and Upwards.........
That's exactly right. But then again I think that too. I regard these metals as commodities. Same here. I get no 'joy' from the actual collections. It's simply a store of wealth to me. If I am being honest, without internet research from at least 10 prominent people speaking about gold and silver and the fragility of the economy constantly, I doubt I would have even bought the little bit I have, so I can understand others' concerns over buying it because I had the same concerns. To me gold and silver are still some useless thing that benefits me in no real way and I get no real joy from. The only difference is I have had lots of people talk about it positively and hey those charts don't lie, I guess. People would think about it differently if they could directly use the coins to buy stuff with. That's why dollars and cents is considered better than gold and silver by many: it's accepted everywhere for real things people want to use or eat. Without the background info and research (nearly all on the internet) I doubt I'd be convinced by anyone talking about it to me over a get-together. Lots of obstacles to jump over to overcome resistance. So is it any wonder people are resistant? I don't think so at all. People just need to be educated about the current state of affairs well, and the alternative media hardly exists for most people. Being far from an expert on these matters, my trust is with people that know more than me too. So I doubt I could say with certainty that precious metals will always be looking as good as they have been for the past 10 years too. It's all about doing what you're comfortable with, and for many that comfort can't be attained in a short conversation...
