Dread - Despair - Denial. Short stacker.

S

Skunny

New Member
I just ordered two 1kg bars of silver. And i feel good about it.

I've just gone into 38k worth of debt to get a law degree, which to me at the time i didn't care about because i was a young fella and i wasn't given any better advice, but now that I've educated myself in the basics of finance and discovered the fraud of fiat i regret it. I could have gotten a better legal education from the internet, just not the accreditation. I could have been working hard to acquire precious metals all that time.

Once i found myself in this position i decided to research what investment vehicle would in fact protect my wealth. At that time silver was at $15. I stalled and spent my money on frivolous crap, only later renewing my interest after reading how catastrophically bad our world economy is going and the Australian housing bubble.

I realised everything i'd read seemed to be coming true and silver was now at $30.

The more i read and understand the predicament the world is in financially the stronger Silver and Gold seem to shine. I've just skimmed a few of the posts on here and my gut feeling seems to be vindicated. Funnily enough, the evidence is solid. I was in denial.

Timelines for a massive silver spike are varied. When silver begins catching up to the money supply i think something really big has to go down. I have no idea what the trigger will be, but it seems inevitable because all fiat currency has a shelf life, a short one. Harvey Organ says if the COMEX collapses the world will be in turmoil. Gahhh!

The more i read the more fraud i see and the more blatant manipulation i see. There is so much of it i start doubting whether i am interpreting all this correctly. It appears my age is against me. I'm 23 and i was denied a financial education in school and had no mentor or interest in finance, i was given the same old advice. "Bricks and mortar" investment advice and debt laden living. After i investigated the housing bubble i couldn't help but question everything else.

Now that I've decided to put my fiat where my mouth is and buy silver, i don't intend to stop until it breaks out.

The question I've got to ask is. Why isn't this mainstream news? The evidence now seems clear enough to me.

And what do you guys think the trigger for a precious metals break out will be?

1st post! :)

I'm going to be devouring anything i can find on these forums. Don't laugh at my naivety, help!

Adam
 
Welcome Skunny, good on you for thinking for yourself and coming up with your own realization.

I do not know what the "trigger" will be but if its in the mainstream news telling you to buy silver...the trigger has been pulled.

As an encouragement, your age is not against you, it is an asset when you combine it with your new found ability to think outside the mainstream school of thought.

When i was 23, i had been married 3 years had 2 kids and had just finished a trades apprenticeship!!! people thought "i was nuts because thats not what everybody does these days". Well nuts to them, it forced me to stop pissing my income against a wall and put it to something of lasting value.

Debt laden living is a curse. It puts you on the mouse wheel of the lender.

I am impressed that at 23 you have realised all this....But then again you are a lawyer!!

Well done young fella.





Edit...i went and looked up how to spell LAWYER so i did not look like a dope :/
 
Welcome mate. Sounds similar to myself!
I'm 22 and feel the same regarding my (but also general) university education. I was lucky I made the plunge just as my scholarship money came through and put it all into metal (not a huge amount but a good kick-start). Sounds good but I have never had any money so my family was horrified. Now I have landed a job with car, petrol and phone bills paid for, so almost all the usual stuff I would be forced to blow money on I can put into metal. I just hope the price doesn't run away too fast.

Happy Stacking!
 
Thanks for the encouragement guys! I appreciate it.

I can't seem to find anyone that has even put a thought into any of this. When i told my mum i was transferring all of my savings into precious metals she flipped. My brother took everything I've said to him in though and just plunged deep into it after doing his own research for 6 months. He's got 10k on the line right now. I've ordered two 1kg bars, after scouring quite a few dealers, i had to settle with one that was waiting on an order from Switzerland. There is a shortage, which only strengthened my resolve. I've got 6k more in fiat that i am considering what to do with, i think it might end up in silver, although i'm waiting to see if there is a correction. Looks like i've missed it, although in the big scheme of things a dollar on top doesn't mean anything.

Most of my friends have done what you have done Willow. I've got 4 friends who have pregnant girlfriends, and most are all getting trades and trying to get jobs in the mines. Friends of mine who actually have jobs in the mines have taken huge mortgages, car loans and had kids already. They've made all of these massive financial decisions and yet look at me funny when i try and explain what inflation is to them. They've got jet skis, boats, houses with pools, one has just bought another car for his girlfriend. All on credit. It kind of makes me feel a little big better that the debt i have was spent on education.

I'm considering selling everything (which isn't much).

I just can't believe i was so stupid with my money. It hurts my pride to even talk about this, and then to think, that the majority of people live like this forever.

How do you even comprehend such a thing?

I keep thinking i've jumped on the train too late. Then i think i've jumped in the path of the train and the price will drop. Then i think i caught it just in time.

I don't wish the day to come so quick, i'd like to get into business management side of things to earn some money to buy more silver before it breaks, which is why i'm so interested in when you guys think it will go. Some of the videos i've been watching are scary. Guys going out and prepping for economic collapse by buying a tonne of lentils.

Really. I don't know how well i'll do in finance in the future. My emotions are too wild for this!
 
Hello Skunny,

Why isn't this mainstream news?

When was Platinum ever talked about? Look at its price. All one hears about is gold, which most don't own.

I say enjoy that it isn't. I'd rather the fundamentals do the talking. Looking longer term.

I balked at $17 silver and then looked when it was in the $20's and have educated myself since. I realised where it was and what to do about it.

One of the best things I heard was not to enter the PM's market looking to get rich quickly.

Cheers..
 
most of my friends used to give me shit about it when i started out, i was telling anyone who would listen. A few did and are now kicking themselves they didn't listen to me earlier. Consider getting into a bit of gold and palladium also while Silver is punching out these 30 year highs.. i'd say do some research yourself but you quite obviously will. Gold coins now are still roughly the same price as 6 months ago but silver has risen heaps. No matter how late you might think you are, you're still light years ahead of most people. Take solace in that.
 
i will say this though, you can overdose yourself on youtube videos, blogs, discussions, predictions, technical analyses etc etc. Just get a firm grip on the fundamentals and try to avoid doing your head in.
 
Thanks FM and Blockhead.

Yeah i understand. The fundamentals is what is obscene to me though. It is simply due for a massive correction.

I haven't even thought about anything else other than silver and gold at the moment. I have skimmed a bit of info on it, but i just figured all commodities would go up as central banks spit out new currency and as they issue new credit.

The reason i keep finding myself coming back to silver is the the massive manipulation. Someone is has been artificially keeping it low for a very long time, and it's movement only suggests to me that they are losing control.

Some of the youtubers think it is JPM and a few others. I don't really care about who is doing it, but the fact that claims that they are keeping it low and industrial demand is increasing seem to have credence only means that silver is where the smart money is.

I just spent 4 months learning how to read balance sheets and statements. And then how all of the different financial instruments these banks use work. It's very hard to take in all at once, i don't think i know it all, but to me - the writing is on the wall - even though i'm a noob. I'm confident enough now to put most of my fiat into it.

Stick to the fundamentals! Long term investments!

Hopefully in some years ahead we'll all be debating if it is the right time to take profits.

Adam
 
Skunny In thirty years time you'll be saying "they were the days.I remember silver at $30oz and we used to have fiat currency in dollars not like the electronic dollars we have these days".

At least you are in the ball game at 23.

Regards Errol43
 
Don't know it isn't going mainstream.
Wall Street Journal.

Do not buy stocks. Not for retirement. Not in the coming decade. Don't. Huge risks.

Wall Street is a loser. Stocks are Wall Street's ultimate sucker bet. And it'll sucker you again. You'll lose, worse than in the last decade. Wake up before Wall Street banks trigger the next meltdown, igniting mass bankruptcy.

Here are 10 more reasons not to bet at Wall Street's casino wait till after they implode:

http://www.marketwatch.com/story/10-reasons-to-shun-stocks-till-banks-crash-2010-12-07
 
Skunny said:
The question I've got to ask is. Why isn't this mainstream news? The evidence now seems clear enough to me.

And what do you guys think the trigger for a precious metals break out will be?

1st post! :)

I'm going to be devouring anything i can find on these forums. Don't laugh at my naivety, help!

Adam
Click to expand...

Welcome to the board, I wish I had your foresight at 23. Although I did mention to my brothers at (2005) to buy gold. But never gotten around to it.

But yeah its not in Mainstream media because the government and corrupt central banks don't want their system to fail. They want to keep the sheeple out there with NFI for as long as possible.

Wow I re-read the part about your friends, they are so screwed when credit crunch comes in. Unless they can pay it back or hyperinflation happens. They will be so poor having so much debt.

Slam
 
Welcome aboard Skunny.

If I might offer a little advice on your situation, without knowing the full story, I would certainly say that getting debt free asap should be a priority.

In the years to come, especially with the way the government is now trying to step in on the banking system and dictate terms, I get the feeling debt will be like a noose around one's neck. Rest assured, if the Gubmint wants to play tough guy with the banks, they'll simply roll the arse kicking down the line to those who can't really do much about it - their debtors.

Don't feel bad about being on the short stack either. I'm just a regular joe with a wife and kids, renting (because I can't honestly afford to buy) and throwing spare bucks after living expenses into metal. You get ups and downs, but after a year I'm sitting on about 80 ounces of silver and an ounce of gold only.

To many here, it's nothing at all. But I have 100% ownership of it and I earned it with my own two hands, so I'm proud of it.

I think the next 2 years in the silver market are going to set the scene for the rest of the decade and whilst I personally started at about $16US Silver, I am still actively buying today, tomorrow and will be at $50, $100 and above.

The fundamentals on silver are to be very frank, insane.

People bleat about property being the be all and end all investment but mate, it's absolutely nothing compared to silver in my honest opinion.

Just keep stacking what you can afford, don't go overboard and get your debts well under control and removed as soon as possible. I've no doubt in years ahead, those folks who have no debt will be considered the 'lucky ones' in this country, whether they 'own' a home or not.

Keep stacking!!!
 
There's some analysis that gold given inflation, the supply of currency in the world and all sorts of other factors, should be around $47,000 per oz. But then again, BHP at $40 a share is also a steal if you believe there will be a commodity crisis.

Skunny - I remember in the mid 90's, there were actually more students studying law @ university than people actually practicing law. Lots of lawyers back then were driving taxis. Not sure if its the same now.
 
Welcone skunny,
You are on the right path.
Enjoy the journey as much as possible.
 
Blockhead said:
man when i was 23 an ounce of gold was the same price as an ounce of weed and a packet of tim tams was less than $2..
Click to expand...

Same here Blockhead!
If only i used that money instead of burning it up in smoke
 
As others have said, to have your aha moment at 23 is pretty fortunate compared to most.

Couple things. Don't disparage your degree. You've got something of value there, even if it has cost time and money to get there. I would say that debt for something that increases your earning capacity, while still needing caution, is the only proper use of debt.

Also, it's probably the lowest interest rate debt you will ever have. Forget about it and just pay it off at tax time. Anything you earn will be put to better use as capital.

On the issue of how to balance cash and metals - my plan is to keep enough cash to cover costs and contingencies - in my case enough for two months worth of costs. Your situation may vary depending on how often and consistently you get paid.

Cash for today. Silver for tomorrow. Gold for a lifetime. Understand the differences.

Silver is a commodity. It is in shortage, in a manipulated market, and currently appreciating in value steadily. It will drop like a stone if GFC part II rocks up though, so you have to have a degree of caution about it. Silver is good for saving up for major expenses, and as an item of worth if our currency collapses.

Gold is wealth. You put it away and never want to have to spend it. It is your capital, your legacy, your retirement. Don't neglect building this, as it will continue to be wealth long after silver has done it's dash.
 
Dont get sucked into despair.

Its another of the tools that the ptb use to disconnect people from each other and hope.

Just stack now, keep learning, keep earning, and stay positive.

You'll sleep better at night.
 
Thats great you are investing so young.....when I was your age I was married and had our 1st baby....I tried the share market with a few wins but I was not a big player....while it is fantastic to be debt free....do not forget to enjoy yourself and travel....or what ever it is you want to do.....life is too short to just count your money every day....well done anyway for you involvement....enjoy.
 
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