This kind of thinking is so retarded, incredible. Yet it seems to be a mindset adopted by the "measure your wealth in ounces not fiat" brigade. Absolutely ridiculous mindset, and especially from a community supposedly money smart. I guess it's easier than facing the reality of the losses: the drop in spot price + loss for not keeping cash in a 3.5%+ savings account + opportunity cost. It does add up. And addressing the question as to one should keep adding to a losing position is not easy either. "if", "all it needs", followed by affirmations "it will" etc. You can keep telling yourself the story you want with the explanations and theories you like. The facts remain very simple and straight forward: for us in Australia, house prices have risen 10-15% in the past year alone coming off a pull back in 2011. You can speculate waiting is better or your depreciated silver will buy the same house...it's all speculation. The facts remain despite all the stories and the theories and the malooneys.
Whoa - 3.5% on a savings account. Maybe I need to move to Australia. My Credit Union (bank alternative) gives a big .2% - (that's point two percent). Checking is a whopping 2.03% - still a long way from 3.5%. That's a big .03% above inflation - as reported by the government. Yeah, like they don't spin those numbers. If I keep fiat in the bank, I calculate how much I lost in real purchasing power. An increase - not a chance. At least PM is a gamble - better than a sure loss. I remember 3.5% - or was it a dream. ~ ~ ~ I'm not seeing (in Australia) any interest rates over 3% - for amounts under $10k on deposit.
So next time I have some fiat to swap for silver I'll give you a phonecall and I will order at you below 10.
