By OzGoldAndSilver :
Kudos for the saving effort.
Minimum wage and you can afford to buy gold? What is your situation? I make almost twice minimum wage and I am going to have to get a second job just to scrape by because I am being kicked out of where I am living and have to find an actual apartment. I especially won't even be able to afford anymore silver when this happens.
Please come join my forum if you're not a trendy and agree with my points of view.
Well, I'd just ask the Youtube poster. Note it was from mid 2009 to 2010.
If you read some of his comments, he did have to sell some in 2011 to reduce his debt, too. He went from 12 oz of his stack down to 9 oz at the time.
Here is the relevant spot price history:
"Cyril" pronounced "see real". I code stuff.
"To study and not think is a waste. To think and not study is dangerous." -- Confucius
My point is that if I was making minimum wage I would have to be living with a parent, or a spouse making at least minimum wage, and I certainly wouldn't have any extra money.
I understand, sure. And I'm impressed by his performance, too, you know.
It makes sense mentioning the debt. Maybe that's the difference...I refuse to put myself into any debt besides a phone or internet service contract.
Thank you for posting! Great to know pretty much anyone can do it, even on minimum wage.
¶~~*~~Losing an illusion makes you wiser than finding a truth. ~Ludwig Börne~~*~~¶
Here's why I shared about this that I've stumbled upon without looking for it.
Beyond the performance, this is the lesson I take from it:
we, honest working, self reliant people, WE CAN know better than accepting blindly to feed the beast of plunder of the statists. WE CAN save for ourselves, when we really want.
It does NOT matter how much we can save, or at which pace.
What does matter is to be able to fight back against the rape over our hard earned wealth. Saving REAL MONEY.
Money is ONLY money. It is NOT the root of all evils no more than it would be the key to happiness. Truth is: it is NEITHER.
It is only a medium, and a store. A store for the fruitage of our sweat... Or headaches, on this end.
But this store MUST BE REAL for men to remain free.
For OUR families. For OUR beloved ones.
DEBT is for SLAVES.
The slaves of those who call themselves "bankers" but who are not; as they're leeches, thieves, and parasitic planners instead.
Get rid of your debts. Then save. Anything real, hard, of true value for exchange. Gold, silver, antiques, arts, rare volumes/books. As much as you possibly can, until it starts to feel it hurts. Don't hurt yourself, but save real money, real assets, in every tiny little bit you can afford. And make sure your guns and bullets are ready to defend those fiercely.
Every little ounce of silver counts ALREADY.
Re-read Proverbs 11.
Peace, God Bless.
You said "Money is ONLY money. It is NOT the root of all evils no more than it would be the key to happiness."
The bible quote is actually "The love of money is the root of all kinds of evil."
Objects are objects, they have no inherent goodness or evilness. It is the actions of men that determine that. But love isn't an action, it's a thought or emotion.
So I suppose, that bible quote is the origin of thought-crime? Neat.
I love you. I'm sorry. Please forgive me. Thank you.
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Well, when I refer to Proverbs 11, I usually allude to, more specifically:
Dishonest scales are an abomination to the Lord, but a just weight is his delight.
Which, IMO, warned us against everything there is about it, and to be wary of.
I think the warning is against greed, not a class of objects that can be traded for other objects or services. I maintain that the bible described the first thought crime; the thought to deprive all of us of our livelihoods.
Because they're psychopaths. They don't just want to survive and thrive; they want to kill.
Good job to this guy whoever did it.
I have a question for the DP experts here though. Would you recommend buying silver or gold if you are only buying $1-3,000 worth per year? That's about my price range, and so far I've only been buying 10 oz bars of silver because they seem to have the lowest premium (besides maybe junk).
What do you guys think about buying silver vs gold for the very long term?
whether or not if it turns out to be true that the silver to gold ratio will return to the historical ratio of the last century (if it does, good), if you intend to spend or barter for goods and services in the future, it is more likely it would be more convenient to use a piece of silver than to convert the gold into silver first.
or put another way, if you wanted to sell your silver or gold for fiat in the future, you could receive bids from many buyers for your 20 pieces of silver (or pieces thereof) than from the few that could afford your gold. remember when the market is larger and more bidders are involved, the better the price you can potentially receive. look to ebay as an example of how this works. you could have hundreds of people that could afford the market of a $100 item whereas only tens of people that could afford a $100K item.
it is good to diversify, but if you plan on living in America than junk silver is the way to go. again, the more people that can recognize that the silver is genuine, the larger the market you will have. if all someone who is new to silver needs to know is that quarters and dimes before 1965 are 90% silver as opposed to finding a scale to weigh and a ruler to measure the silver piece, the easier for you to liquidate your silver for whatever it is you want. what good is it if only you know that it is silver or gold?
however, if you want to support the cause of liberty and don't mind paying a premium (to account for the labor and raw materials to produce), check out Shire Silver. The premiums are high but perhaps comparable to other fractional silver and gold products.
I'm no expert (just trying to save a bit, steadily) and I can't tell you what you ought to do, but I can tell you this.
I make a good living and if I were single I'd probably be able to save for myself in the thousand ounces of silver a year, assuming a weak volatility for it, and today's price to hold that long.
But since I have a family which implies sustaining a number of people, wife, several kids, including one in college, and I have ALSO a strong commitment to not hurt ourselves if it's unnecessary AND to live with absolute ZERO debt, of course my actual saving pace is much less.
Still, IMO, most people just don't realize how much valuable it is already to be able to save just a hundred, or if only a couple dozens ounces of silver a year. It's a lot already; or rather: it will be a lot, at some point, we just can't quite guess to which extent, but when fiat money goes to zero or close to, all hell breaks loose, always. The real value of hard assets makes for the harsh wake up call on those who had nothing of it saved.
Most of us, people, really have no idea. It took me a while to fully realize. I reckon it isn't easy to stop thinking in terms of fiat money and to focus on purchasing power instead. Especially because this whole game of price manipulation to maintain silver and gold's prices at ridiculous lows; as Chris Martenson once said, which is "the cruelest joke ever played" (on people who are buying into the lie, the deception to scare them out of these precious metals).
Even if I could afford only a couple ounces a month I just wouldn't hesitate for a second to do it, still. I'm serious.
I take it the Youtube poster I shared about in the OP had the same understanding of the situation as I've eventually come to, now.
Back to your question re: silver vs. gold, here are some of my earlier remarks, as I see the dilemma anyway (in the comments) :
Now if we could get about a million others to do that, the Gold would go from the bankers to we the people, where it originated.
paying a premium for most of those, but if he was, he would have saved a lot of money just buying a few oz's instead of all the 1/10 & 1/4 pieces. Nit picking aside good work
“When a well-packaged web of lies has been sold gradually to the masses over generations, the truth will seem utterly preposterous and its speaker a raving lunatic.” – Dresden James
or as a down payment for a house, it makes lots of sense to go with full ounces (or larger). if the savings is for general spending or with intent to resell for future fiat, having smaller fractionals will open up the market to more buyers. if gold ever hits $20K/oz in the near term, how many buyers at that point could afford to plunk down stacks of benjamins? i think even those cash 4 gold places would be hard pressed to do so.
He must not have had a lot of bills.
In my opinion, he should have silver instead of gold.
Yes, kudos for saving.
Ron brought the Liberty movement together, Rand is expanding the crap out of it! :)
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