Quote: (01-12-2013 01:45 PM)BIGINJAPAN Wrote:
Quote: (01-12-2013 10:13 AM)nash23 Wrote:
I'm in the process of selling all my properties and reallocating all my funds into physical silver (specifically American Silver Eagles), and getting back into the workforce, so I don't have to sell silver to cover my living expenses. I've done indepth research on silver, and I'm expecting silver prices to increase 20-50x in the next 2-5 years.
Before you claim that I'm smoking pot, go do your own research - Michael Maloney's "Debt Collapse" video on youtube is a good start.
1. never put all money into one asset. Especially one so heavily manipulated by 3 banks to keep the price lower. Have you read what happened to the Hunt brothers in the 80's ?
2. Do you have any idea how much weight or room silver takes up if it is a sizable investment ? Probably best to buy some gold so you can transport things a little easier. Also buy bigger bars, not just coins. Of course get yourself a shotgun and handgun to protect your wealth if it is just going to be sitting in a room in your house.
3. The Canadian Maple is a better investment. Usually a tad bit cheaper and it is .9999 pure silver.
I hear you. I'm a usual advocate for diversification too. But with the US Fed's zero interest rate policy, its creating unsustainable bubbles everywhere - property, stocks, bonds (especially treasuries) - at some point interest rates will have to go up and this should lead to a pretty painful correction. And with all this money printing, really the only asset close that would go up are precious metals and hard commodities. Yes, there's absolutely manipulation in gold and silver prices, and this itself is also going to be unsustainable, the physical market especially for silver is getting tighter. I'm not levering my investments, and putting in money that I don't have to touch for at least five years, so I'm just going to keep stacking while its dirt cheap. And yeah, I'm small potatoes compared to the Hunt brothers haha
I'm living in Singapore, so I'm buying and storing in a private vault in Singapore, secured and insured.
I'm buying Amercian Silver Eagles rather than Canandian maples or bars because there's a legislation that restricts the US mint to only US mined silver. In a bubble, when silver supply is tight, the US may stop minting coins to retain US mined silver as "strategic reserves" (silver is one of the most useful metals in industry), so buying now might be like buying a Van Gogh painting before he died. Also govt minted coins would be better than a bar, because in a crazy bubble market (when every man and his dog are trying to buy silver), it would be easier to sell these coins because they're universally recognised and harder to counterfeit.
I would generally stay away from ETFs and any sort of levered paper positions, because of the counterparty risks. There's a good chance the financial system/banks could implode because of the financial derivatives in the system, and gold/silver bubble and this event could be inter-linked, so I want to make sure my silver is on hand to sell when the markets crazy, instead of being stuck in the banking/financial markets system.
