I came up with a new plan last month. I have gotten a little bored with the silver accumulation in the last half year. I still do it don't get me wrong, it would be monumentally stupid of me to divert my attention when prices are so low. If it was good enough for me to buy when it was double today's price, why not now? Little jaded I guess, I follow several silver channels on youtube and opinions abound on what makes the best precious metal investment. There are pure bullion stackers and there are numismatic people that collect the rarer or the potentially rare coins. Within these two factions are a multitude of subgroups and combinations of them both. That's my particular problem. I love what I buy, I like variety. I see the advantage of pure uncollectable bullion, but I also see that some plays in the numismatic or collectable world could be well worth the money down the road if they were to appreciate in value. The trouble is the conflict in paying more but not accumulating as much. So I am doomed to settle in between...or maybe not.
I remember 25 years ago thinking about having gold. I wanted it in my hands. I wanted the security, I wanted the metal. Back then I never did anything about it, as a typical young adult, I spent my money on consumer goods and things I really could have lived without. I spent foolishly as previous posts can attest. I racked up unsecured debt. If only I had started buying back then, prices were at historical lows. Hindsight is a bitch. Well starting on October 1st of this year I decided to purchase 1 ounce of gold per month in the lowest cost form that "I like". You know what I will have in one year? That's right: 12 ounces of gold, (well more than that because I already had some). I think this is attainable. To think that I used to spend double that per month trying to keep my credit cards afloat.
The Royal Canadian Mint 1oz wafer bar is 24ca (.9999). It is a bullion product I won't mind liquidating when the time comes. It is guaranteed savings, as in: I am actually putting money away, I know that PM's are volatile. The price could go down more and possibly stay down for many years...but ask yourself this: Does a dollar buy what it did 5 years ago or how about 20? The mainstream media and the banks like to report that inflation and interest rates are stagnant or non-existent. Really? I pay more money for smaller packages of food. I pay almost triple what I paid for a liter of gas than I did 20 years ago. Taxes have gone up, housing goes up every year. I could go on, but what is the point. If I put $1400 into the bank and expected to make a return on investment in 20 years would I have made any money? No. Its as simple as that. My dollar will be worth less. If I have gold and silver what do I have in 20 years? I have exactly the amount of gold and silver that I bought.
Some will think this foolish, I don't mind. Some of those same people lost more than half their net worth in the 2008 banking debacle and it wasn't just the banks, it was all that the banks did and were involved in...and that is everything.
I am now better off than most of the population because I am saving something. Many don't do it and expect the next generation to fund their lives. How much longer can debt spending last? What is the magic number where those that are owed the money say this is enough, this is unsustainable? Don't believe me? Well the USA just about went into default this month, the politicians kicked the can a few months down the road and these events are getting closer together with every new crisis The currencies we have now will not be around in twenty years, there will be a settling of accounts and it won't be pretty.
I remember 25 years ago thinking about having gold. I wanted it in my hands. I wanted the security, I wanted the metal. Back then I never did anything about it, as a typical young adult, I spent my money on consumer goods and things I really could have lived without. I spent foolishly as previous posts can attest. I racked up unsecured debt. If only I had started buying back then, prices were at historical lows. Hindsight is a bitch. Well starting on October 1st of this year I decided to purchase 1 ounce of gold per month in the lowest cost form that "I like". You know what I will have in one year? That's right: 12 ounces of gold, (well more than that because I already had some). I think this is attainable. To think that I used to spend double that per month trying to keep my credit cards afloat.
The Royal Canadian Mint 1oz wafer bar is 24ca (.9999). It is a bullion product I won't mind liquidating when the time comes. It is guaranteed savings, as in: I am actually putting money away, I know that PM's are volatile. The price could go down more and possibly stay down for many years...but ask yourself this: Does a dollar buy what it did 5 years ago or how about 20? The mainstream media and the banks like to report that inflation and interest rates are stagnant or non-existent. Really? I pay more money for smaller packages of food. I pay almost triple what I paid for a liter of gas than I did 20 years ago. Taxes have gone up, housing goes up every year. I could go on, but what is the point. If I put $1400 into the bank and expected to make a return on investment in 20 years would I have made any money? No. Its as simple as that. My dollar will be worth less. If I have gold and silver what do I have in 20 years? I have exactly the amount of gold and silver that I bought.
Some will think this foolish, I don't mind. Some of those same people lost more than half their net worth in the 2008 banking debacle and it wasn't just the banks, it was all that the banks did and were involved in...and that is everything.
I am now better off than most of the population because I am saving something. Many don't do it and expect the next generation to fund their lives. How much longer can debt spending last? What is the magic number where those that are owed the money say this is enough, this is unsustainable? Don't believe me? Well the USA just about went into default this month, the politicians kicked the can a few months down the road and these events are getting closer together with every new crisis The currencies we have now will not be around in twenty years, there will be a settling of accounts and it won't be pretty.
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