Warning to Noobs. Mind the Perpetual Hype.
- Thread starter Load of Bullion
- Start date
Arch Stanton
Well-Known Member
Agreed Andrew. I have my house and property, which is the only debt I have. Antiques, old cars, etc.
My stack is just a way to save that is much more fun (and safe) than cash in the bank.
I get much more pleasure out of playing with my silver now and then than rolling around on the floor with my bank statement.
My stack is just a way to save that is much more fun (and safe) than cash in the bank.
I get much more pleasure out of playing with my silver now and then than rolling around on the floor with my bank statement.
Gullintanni
Well-Known Member
I used to roll out these lines as well
If you have not been buying AND SELLING in the last few years then you are certainly NOT SAVING what you think as you have lost value.
In this market "buy and hold" is a losing proposition, gold and silver are commodities that need constant trading in order to stay ahead.
pastey
Member
There is a method to the perceived madness of discouraging "Hording". A functioning society relies on free flowing currency. Cash horders are like greedy leeches on a vascular system. It's preferencial to have it syphoned back into the system at some reasonable time in the future by taxation, living expenses, super funds etc etc.
While I agree borderline socialist systems won't favor the needs of every individual (i.e superfunds). The idea of living within ones means and breaking even I don't consider a bad thing.
So buying into PMs has taken your CASH hordings (savings) and injected it back into the system. What you are left with is a hard assest that is not currency.
Which is fine, society needs that currency. But if silver hasn't matched the same gains one would expect in a term deposit or savings then something is wrong.
So if the biggest economic sink hole of our modern time is big wasteful governments and modern day leeches are government bureaucrats and individuals are expected to be bleed beyond dry so the socialist bureaucracies can continue contributing NEGATIVE value to our society.
Then, in my opinion, there is a problem.
While I agree borderline socialist systems won't favor the needs of every individual (i.e superfunds). The idea of living within ones means and breaking even I don't consider a bad thing.
So buying into PMs has taken your CASH hordings (savings) and injected it back into the system. What you are left with is a hard assest that is not currency.
Which is fine, society needs that currency. But if silver hasn't matched the same gains one would expect in a term deposit or savings then something is wrong.
So if the biggest economic sink hole of our modern time is big wasteful governments and modern day leeches are government bureaucrats and individuals are expected to be bleed beyond dry so the socialist bureaucracies can continue contributing NEGATIVE value to our society.
Then, in my opinion, there is a problem.
How much are you buying and selling.I used to roll out these lines as well
If you have not been buying AND SELLING in the last few years then you are certainly NOT SAVING what you think as you have lost value.
In this market "buy and hold" is a losing proposition, gold and silver are commodities that need constant trading in order to stay ahead.
Gullintanni
Well-Known Member
Well i do it every other day usually.
Since the beginning of the year i have been sitting on CASH as i sold most all the silver i had here as i thought the price was going to $14 around March.
For a while i have been a little grumpy i sold and waited but the last few days have made me smile.
If i get my $14 silver again then i stand to gain A LOT in my book (hundreds of extra ozs) that i will use to continue my flipping.
Gullintanni
Well-Known Member
@clear: i am still flipping but mostly jewelry and gold that we pick up.
Last weekend the missus bought a gold chain off local facebook buy/sell for $25 and then i took it to my gold/silver guy and got paid $125 for it.
That seems like magic to me , people just do not understand the value of these metals to the right people.
Another beauty if BROKEN jewelry that people just think is rubbish and they do not understand METAL VALUE, i buy this stuff often and people do not want a lot for it.
I will pay up for real people with "needs" but luckily most of the buys are from students wanting money for grog (i guess) and i do not go out of my way to give them more than i need to.
The beauty of living in a Varsity town.
Last weekend the missus bought a gold chain off local facebook buy/sell for $25 and then i took it to my gold/silver guy and got paid $125 for it.
That seems like magic to me , people just do not understand the value of these metals to the right people.
Another beauty if BROKEN jewelry that people just think is rubbish and they do not understand METAL VALUE, i buy this stuff often and people do not want a lot for it.
I will pay up for real people with "needs" but luckily most of the buys are from students wanting money for grog (i guess) and i do not go out of my way to give them more than i need to.
The beauty of living in a Varsity town.
Dog poop is worth as much today as it was 5 years ago.
Silver is worth much less today than it was 5 years ago in USD.
You would be doing better, being Australian, as the $AU has seriously tanked since then.
I used to roll out these lines as well
If you have not been buying AND SELLING in the last few years then you are certainly NOT SAVING what you think as you have lost value.
In this market "buy and hold" is a losing proposition, gold and silver are commodities that need constant trading in order to stay ahead.
My strategy is to buy and hold physical for many reasons hyped here, and to trade paper (my wife trades futures on the Thailand exchange), for the reason you suggest.
The transaction costs of trading paper are much lower.
The convenience of doing it at home from the computer is much higher.
Particularly when buying, the best price is normally during afternoon NY trading, which is the middle of the night here, and the gold shops are closed.
It is much safer than walking around the city with a knapsack full of money, or having to hold up your pants with both hands when leaving the gold shop, and people leaving banks and gold shops are frequent victims of robbery here.
It does not generate the unwanted attention that depositing into and withdrawing huge sums of money from the bank does.
pastey
Member
Raw silver has performed badly. No one predicted it would perform this bad. MINTS don't care because what comes around goes around. I actually prefer coins. The premium and limited runs add some value. However when it comes to the perth mint, let me just say this. Producing proofs isn't a big deal for them, it really isn't. Their catalogue is filled with proof coins and their premiums aren't justified and will not perform IMO. Infact many perform negatively. I avoid proofs from the perth mint. Infact I avoid proofs altogether thses days..
Just a note. I bought most of my PM proofs on ebay around 2008, even then they where going for less the RRP.
Gullintanni
Well-Known Member
Hiya Skyrocket.
Now this was another way i used to look at things as well UNTIL i tried to figure out HOW WILL THIS SILVER HELP ME IN CRISIS.
Would you use your PM's to trade for food or other needs?>>>>>>>>>>>>>>>>>>Skip a step and stack them instead.
Would you use your PM's to hold wealth for when things come right again?>>>>>>>>>Skip a step and buy land NOW, or just TAKE IT when things get that bad.
Other than making money NOW NOW NOW i can not really see the benefits anymore of holding 10s of thousands of dollars JUST IN CASE.
If that "just in case" ever arrives then things will be that bad that trading for metal will not be an issue for 99% of the population and smoke ,grog,food and women will hold all the value.
Just run yourself through a few scenarios where having this gold and silver will hold you in a better state than the guy/girl with heaps of food,fuel and firepower.
I do not think these can be beat with PM's.
I do love gold and silver WHILE THE MAJORITY of people give it little value or attention as i can get it cheap and have the ability to sell it for near market value.
The day every man and his dog get into silver (lol) i'll be onto the next under valued commodity.
And in the next few weeks (finger crossed) i will be able to buy back in when we hit the 52 week low and more people get disgusted and panic sell.
I don't think all these debt fueled fiat currencies backed by nothing can keep going on for much longer without a collapse and hyperinflation making them nearly worthless. After the collapse they have to go back to currencies back by gold. That's when the suppression of PMs will stop imo. PMs will then skyrocket big time and I make excellent profit. And if they don't then PMs will be a preservation of portion of my wealth in very troubled financial times. But imo I don't see PMs still being around these artificially low low prices after a collapse. Sky high is my opinion.
Btw, I also own a 40 acre country retreat stocked with food, water, fuel and firepower too if things go pear shaped really bad like WW3 or something.
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pastey
Member
@Skyrocket I'm one of those people that have no issue with fiat currencies and understand their basis is debt, that's the point of it. However it's expansion (debt) must correlate (%) to factors of population growth and overall national value on an international level (insert the dangers of the globalist spread...). I also don't see any kind of "collapse" as a causation to "sky high" prices. I also don't buy into the "suppression" of PMs. But I do buy into the idea of an over investment in "things" that have zero and even negative value (i.e. Governmental beauracratic expansion [socialism]) as the cause of debt inbalance.
The Australian government spends billions in departmental, legislative and social justice economical sink holes. I agree silver is too low and government waste is too high. But you don't want a collapse or perhaps specify it's factors as a collapse of some sort may well make everything lose value all at once.
The Australian government spends billions in departmental, legislative and social justice economical sink holes. I agree silver is too low and government waste is too high. But you don't want a collapse or perhaps specify it's factors as a collapse of some sort may well make everything lose value all at once.
Everyone is entitled to their own opinion on matter.