"protect your wealth" is the claim....how do you protect your "wealth" with chunks and plunks of metal unless they can be converted into something that is universally accepted as payment for services or goods by most people????? .
Silver and gold are a long way from becoming mainstream. I have been in this for over 10 years and I am yet to hear any talk of gold and silver amongst colleagues and friends. As prices rise to new heights, I think people will finally develop an interest. When things are cheap, no-one is interested but as it skyrockets, everyone wants a piece.
Missinglink you asked me a question and I gave you a brief and succinct answer that most members here understood. Then, you reply with a rambling diatribe of concocted garbage where you raised issues that were never discussed. Your argument is that my argument is a Strawman argument as governments will steal currency backed or not backed by PM. That has nothing to do with my explanation as I never raised the issue of a PM based currency. Are you confused between owning PM and a PM backed currency? You also repeatedly use the term stable currency not recognizing that the US$ today is worth 9c as compared to the 1955 US$ and the Australian $ today is worth 6.25c of the 1966 Australian $. Your lack of understanding that fiat currency is inherent unstable and depreciates with time is the very essence of the current economic problem. I also think you need to read some history where families were saved by their ownership of PM. My suggestion to you is move to a stock and bond trading forum where your opinion will be greatly appreciated and may even be held in reverence. By the way dreaming has nothing to do with my lack of response. It was the content of your reply that was objectionable.
Not in this gloomy economic climate with all these massive debts and bubbles everywhere. I think we be there within 5 years.
^ This. I love times like this. The missus and I have saved heaps by going without (don't often eat out etc). We have a healthy cash buffer to keep all expenses taken care of more than most people in our tax bracket. Silver's low and hopefully the arse keeps falling out of it. I'd love to buy 10 oz bars for $150. What a dream. We all know this ride is cyclical. It's a game of patience. When people revisit their interest in pm's, I'll be ready to offload. I'll be buggered buying in at $47 an ounce again.
That mans any fall in the AUD compared to the USD will mean increasing PM prices, offsetting the fall in PM's. Yay
Without the cash part, the plunks of metal don't mean anything to the vast majority of people on earth. Metal can hypothetically become worthless since it's ONLY value in terms of goods or services it can buy is what someone else attaches to it. In fact, metals do generally become worth less during times of serious crisis. "Wealth" is a subjective measure of the value of possessions. Since the value of metals is neither constant, stable, nor guaranteed by anything or anyone, that means it is not a wealth protector. Investing money in metals is in a very real way not much different than investing it in gemstones. .
A) You are talking complete nonsense since most here didn't mention they understand your nutty point of view. There's not even a shred of evidence that most members even read your cop out comment. B) Even if most did, that doesn't mean your comments aren't wholly ridiculous. You are guilty of relying on the fallacious argumentum ad populum. (Just because you believe that many people think you made a 'good' argument doesn't mean your argument is good or valid). C) Owning PM's doesn't necessarily mean you are preserving wealth. By the same token, you could be losing wealth by stockpiling metal. D) Your arguments are based on anecdotes. Fiat money functions like metal backed money. That they are backed by different things doesn't mean that one is stable and the other isn't. Even when the US $ was backed by pm's, there was inflation. So your anecdotal example of 1955 means nothing. As for your claims about families that were saved by pm's....that's pure anecdote. There were also families that were saved by owning fine art or other things that were deemed of value at the time. PM's are in no special category unto themselves in terms of having value as value is always something that is attached by humans. I find it amusing that the most fervent pumptard permabull stackers, snake oil salesmen, and diamond cartel pitchmen all use the same deceptive ruse of taking 2 points in a chart that just happen to coincide with their whirlwind claims and then assert that this is evidence for their claim. So one of these product peddlers will pull out the year 1955 and exclaim something like "compared to 1955 that other guys' product fared really poorly" or "from October 2008 to April 2011, the product I'm pushing shows why it's the best store of value". Yadda, yadda, yadda. Those types of claims by the most fervent pumptard permabull stackers, snake oil salesmen, and diamond cartel pitchmen are all smoke and mirrors....anecdotal sales pitches. E) You should take your own advice on moving to another forum....maybe try a "magical thinking" forum That said, I stack silver because faith in old traditions (by certain groups of people) dies hard. And as a result of such beliefs, certain things retain certain value. .
All it means is the decline will not be as great.. I am yet to see the AUD drop by a greater percentage than the price of gold on a significant price drop.
