....thought I would see what everyone thinks about my news. I've spend many hours sitting in my damp hole thinking about what to do in this uncertain economic world we live in, and I finally followed through with my plan and I have uttered those famous words (used mainly in poker)..... ......I'm ALL IN!!!! I've taken every single penny I have in the bank and put it onto precious metals!!! Wait till Mrs Weasel finds out she won't be getting any Christmas presents!!!
I'd just tell Ms Weasel that you bought her PM's for xmas. A great present (unless you bought paper in which case you can give it to her to wipe her arse).
I'm never comfortable with the 'all in' approach to PM investing. My attitude is, while the paper paradigm still exists you're going to need to keep using it for your day to day expenses. PMs are in effect locking away your wealth for the future. If you tie up your wealth all in PMs, you remove your liquidity and ability to function in a paper based world. We're still not at a point yet where you can take your PMs down to the corner store and get what you need as an every day occurance. I don't see the paper markets closing tomorrow or even in a year from now. Of course we can get a 2008 flash crash, but can you reasonably expect or anticipate such an event to the day? I know I can't. Keeping a percentage of your position in cash is still a wise thing to do, you still need to pay for your day to day living expenses and have a little aside for the inevitable bank holiday. PMs are more or less a savings vehicle. Even if you were saving in cash, you'd still have some cash aside for day to day living expenses. This really is no different. Don't leave yourself short and do yourself a favour, don't skimp on the Mrs for xmas. If she doesn't share your passion for PMs, then you might be in for a rough ride.
Congrats Mr Weasel but I'm with Auspm on the wife side of things. Wife > Bullion But here's a solution I came across yesterday: http://goldsilver.com/buy-online/gold-without-borders/ Buy your wife nice bullion jewelry for Christmas and kill two birds with one stone.
