It has been said before, but.... The fear and collapse based hype has been around for decades (at least). For over a decade I have heard about the coming collapse (soon - usually due this September). I've been told "this year it is different". I've heard many extravagant price predictions for silver year after year. Usually from people who sell silver. No one ten years ago was predicting silver or dreaming silver would be sub $20 in 2017. Yet this is the reality in 2017. I've long been critical of those on the perpetual hope bandwagon. Proceed with caution. Have some PMs but keep an open mind and diversify. I've come across people who are sorry they didn't diversify and find themselves with wealth that did not keep up with money sitting in a regular bank account. *I am not saying anything about future financial collapse scenarios* Enjoy stacking. Take care.
Good post and I agree. Would emphasise keeping an open mind. It's easy to get set in your way of thinking and maintain a narrow point of view. The truth is the world will keep on turning - look for other areas to invest and stick to only keeping a set % of your net worth in metal. Maybe include some of that in gold stocks if your looking for a bit of leverage.
Good post "LoB"..but I'm wondering, what in particular has caught your attention to warrant the warning?
Yes, in real terms Silver has the dubious honour of equalling dog poop when looking at performance over the last 4 or 5 years. Cause and effect......... If you don't understand and fail to get the first part right, which few on this forum do, then your understanding of the second part will be wrong, wrong, wrong.
Indeed people need to diversify, pay your bills, own stuff outright if possible, pay off the credit cards and cut them up, look into cryptos etc.
Thanks 1) Looking at the valuation of silver now in 2017 and saying to myself "far out"......I purchased silver at this price a decade ago (never mind inflation since then!) 2) Sean (SGT report - love much of his work) would not take me up on a bet this year when I called out one the hypesters calling silver prices well up in the hundreds/oz this year. Sean is familiar with me. Won't put any money where his mouth is! 3) I've encountered silver stackers display their despair on silver YT channels only to get removed amidst civil conversation. 4) We can all get caught in bubbles of belief whilst the world keeps turning and opportunities pass us by due to closed mindedness. 5) I want to a counter balance and respectful warning to those absorbed in the perpetual "soon" silver stacking hype.
Hyping is common in market either bullion or numic. The collapse of online exchange platform of coin, stamp and collectibles in china due to crub by china government has lead to many companies and investor went burst. All those items has leaked and released to physical market now. It sell near bullion coin price. Many people will hype those items soon. Diversity and knowing the market are important.
Yes, diversify, buy 10oz bars, 10oz coins Kooks, Koala's (Not available anymore), Lunars, 1kg bars, 1kg coins, Lunar Mice, Ox, Tiger. And of course a few 1/2oz, 1oz, 2oz, 5oz and 10oz Luars and maybe a few Koala's. Often folk put "all" Silver (Bars and coins) in the one basket but as you have rightly pointed out "diversify". Bullion bars + bullion coins and whatever else fits into your security blanket.
He is saying diversify by not just holding PM's. If in 5 years time you need to liquidate and the PM's are the same price you purchased them for what is the point?
But it is different this time. The world has never before been riddled in so much debt and with so many absurd overvalued bubbles everywhere. Banks are in trouble, currencies too, ect, ect. I'll keep stacking silver at these ridiculously low prices thanks.
20,30,40,50 years ago the world had also never been in so much debt. Name a time in history when there wasn't plenty of what people opined were absurd overvalued bubbles. Banks and currencies are always in trouble, there's no time in history they haven't been
Too many people believe in Silver and just like a religion are blind to its fallibility. It's like going to church at Easter, it's the same sermon for last the last 2000 years.
Being right is often not obvious till after the fact. At which point it is to late. I see my stack as a hedge, i also have a mortgage, shares, large collection of antiques and numismatic coins. Market collapses i have the stack, market does well i have the collectables, property booms i have a house. Its all about diversifying
Name another time in history when countries (Russia, China, India, ect) were trying to stockpile as much Gold as they can get? They know what's coming and are preparing with PMs!
Nations have been stockpiling wealth since the beginning of time. The word "Plunder" comes to mind. Maybe modern weaponry has suppressed this from modern thinking but reality is every country has always positioned themselves for their own betterment... I mean that's how most if not all wars start isn't it? Take whats not yours conquer new lands, reap the spoils etc.
said my bit...cheers folks.....thanks goldpelican for dragging us away from Kitco forums in 2009 and creating Silverstackers ..... Sound comments here from members who have been stacking for years. Forum going strong since 2009! Keep it real. Enjoy your stacking
