Silver bullitt said:
Hate to sound like a doomer, gloomer but as I watch the silver price start to plummet yet again today <snip>
I'm not quite sure how to put this, because it's going to sound harsh and/or nasty - which is completely the opposite of my intention - so please forgive me in advance if this doesn't "read right" as it were.
Let me first say, I hear you, and there was a time when I felt absolutely the same way. It's because we're conditioned to value everything in terms of "money",
and we're conditioned to think the higher the number, the better it is.
Lemme give you an example (not that I think this way, but I'm sure some do)... "My car is worth $50,000, and it must be better than so-and-so's which is worth $30,000". "The value of my gold/silver is going down, it was $25.00 a few days ago, it's now only worth $22.50".
From the day you are born, you are taught, and you live in an evironment that encourages this exact "level" of thought.
This is the way you are supposed to think, along with the fact that you must attend school, learn much, get a degree, get a job/run a business, work 40 hours a week, suffer a heart attack in your mid 50's, retire at 65, and consider yourself lucky to have a few years of reasonable health left with which to enjoy yourself.
Now, granted, learning stuff is fun (school), but it's mostly spoon-fed information - there's no real "discovery" in that learning. Getting a degree may have some fun aspects to it, but most all I hear nowadays is involving a lot of stress and expectation. And sure, one would go stir-crazy sitting around doing nothing all week every week, but do we really all enjoy our jobs THAT much?
It's time to stop and consider a few things. Does one really need to go to work 40 hours a week for 45 years of their life? If you really boil it all down to nuts and bolts, what you really NEED is a roof over your head, and a square meal a day. Does that automatically mean you have to do all the above? I'd say no.
And - the same applies to PM investing. There's only so much silver, and so much gold on the face of the planet. Not even enough silver (if I recall correctly) to give every person one ounce! So, if you have 20, 50, 100 or even more ounces, how truly precious is that? Do you really think the current price of this metal is a reflection on it's true value?
All of this is a round-about way of saying - stop looking at this in terms of fiat currency (which doesn't know it yet, but it too will be like a Dodo - extinct), look at it as an ounce of silver. Consider it's rarity. Consider the long history of this metal, both industrial and precious, and truly consider what you have stacked aside. One day we will run out of silver - what will you swap yours for then?
