33 votes

Buying Silver the stupidest move I ever made

I agree with this video, it helped confirm my thoughts about the future.


http://youtu.be/w0luBhVdMsc

For those not sure if Silver or Gold is right for you, you should view before making any decision about buying.

What do you think, is this video right?

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Old thread

disinterred.

Ĵīɣȩ Ɖåđşŏń

"Fully half the quotations found on the internet are either mis-attributed, or outright fabrications." - Abraham Lincoln

If you

follow your emotions you will always buy high because you don't want to miss out and sell low because you don't want it to go down anymore. I've done it myself many times, but I'm learning and resisting.

"Endless money forms the sinews of war." - Cicero, www.freedomshift.blogspot.com

I almost puked my cranberry juice all over the keyboard

The first reference said he bought in at $37 and change?

WHAAAAAAAAAAAAAAAAAAAAAAAAAAAT??????

What was the guy buying? Mint condition Morgans?

There is nothing strange about having a bar of soap in your right pocket, it's just what's happening.

I'm encouraging as many

Cavities as possible so I can fill them with silver.

So...

So, beat yourself up about it.

I am happy taking my silver out once in ahwile and just admiring it's beauty!

Threads like this make me even more bullish

As the sentiment of buyer's remorse gets stronger then that's the sign of a good price and a market that has hit bottom. To OP, sorry you feel the way you do. I'll buy your silver from you at spot price.

“I’m fully diversified. I’ve got some under the mattress, some under the floor boards, some in the backyard.”

.

More than anything, this man needs three things:

egapele's picture

Ah, much like investing in a college education these days

college education = getting yourself rich

silver/gold = getting yourself rich

Neither may make you wealthy but both will make your life rich.

Use them to get wealthy and you'll find yourself pathetically poor.

^

B I N G O

Take a capital loss in taxes to beat the system

If he's upset about buying silver at $34, then sell it, take the capital gains loss on his taxes, then buy it back a few days later at $22.

The feds are onto that trick

and others like it.

Ĵīɣȩ Ɖåđşŏń

"Fully half the quotations found on the internet are either mis-attributed, or outright fabrications." - Abraham Lincoln

There is more Gold above ground than

there was 50 years ago; there is less Silver above ground now than ever before as we use it up industrially and throw it away. Stockpiles are dwindling at a rate that will make Silver rarer than Gold and have an equal or greater value than Gold in the not distant future, and yet the price of Silver today is less than 1/60th the price of Gold, obscenely ridiculous.
It seems the Banksters or whoever has the power to control the market is keeping the price low to create a loss of confidence in PM as they cleverly buy up the slack - a slow methodical shakeout. Hang in and Silver will give you the security that even your home and job cannot give. Silver rocks!

It's not the brightest

It's not the brightest move.... You park your money and it can no longer make profit (other than the swings in price which work both ways). Much better ways to use money to create wealth. Great way to store wealth if you already have more than you will ever need.

Most excellent rant!

Bravo - Good music too.

"If it keeps on raining..."

"We have allowed our nation to be over-taxed, over-regulated, and overrun by bureaucrats. The founders would be ashamed of us for what we are putting up with."
-Ron Paul

Insurance

Think of precious metals as an insurance policy against a currency catastrophe. How else can you protect yourself from a currency collapse?

If the dollar collapses, precious metals will rocket in value. Precious metals offer a way to hedge against foreign exchange risk and capital controls. Additionally, there is no counter party risk.

Think of precious metals as an insurance policy on the loss of value of your personal savings account. You can by insurance for the loss of your life, the loss of your car, the loss of your home. But, you can't buy insurance if the value of your savings account is devalued. Gold and silver offer just such protection.

Not bad for a Girl....

;)

...

I will buy all your unwanted silver. You will take FEDERAL RESERVE CORP. notes, right?

All rights reserved and no rights waived.

I did a lot of short trades

I did a lot of short trades around the time of the last election. The political climate at the time put a lot of stress on the whole market in general, creating a volatile climate for gold and silver. With each investment I silver I received a 33% return. The reason people buy silver and gold is for long-term retaining of value. You can also make money off of short term, but this relies on the market's climate. The point is, as the American Dollar continues to be devalued, silver and gold will be more valuable by comparison.

The first and only mistake in buying silver or gold,

is buying it when you expect to "make money" on it. You buy gold and silver to sit on, and if the SHTF, then you have it when it is needed the most. If you buy it thinking you will make a killing in the next year, five years, or ten years, then you bought it for the wrong reasons. It should be put up somewhere very safe, or even hidden. You shouldn't see that silver unless you are adding to the collection or you are using it to get necessities for a SHTF scenario. OR of course if the actual S has already hit the F. Silver is not a 401k plan when you buy it, but it may be the ONLY plan at some point. The government can and will take your IRA's and your 401k accounts at some point. They can't take your silver unless you give it to them.

Thankyou for saying that.

Thankyou for saying that. Others here have said it, but eitherway, I dont think it gets said enough. Metals are not for making money, they are for safe guarding its value.

To climb the mountain, you must believe you can.

Or unless

The Government takes it by FORCE.

His name is Edward Snowden

What is Capitalism?
http://youtu.be/yNF09pUPypw

That is very possible

but they have to at least ask you for it, and it should be very well hidden if things are that bad. You then have the choice of giving it up, fighting back, or more than likely simply sticking to your story. At least you have that choice. I'm not sure that I would just hand over my property to the goons. Do you think they are going to ask your permission to steal your IRA's, 401k's, or banking accounts? I'm not saying that we avoid them, but it's good to have a backup plan for when the digital FRN's are vacuumed up.

This kid is great.

I love that he understands not only the importance to ourselves but to our children and grandchildren. I pulled the trigger and bought another $100 face bag Friday and after watching this it just makes me want to buy more. I mean what the heck, I'm prepped as anyone can be and I still have savings. Why leave my savings in federal reserve notes when I know they will buy less and less as they have done in my life and will certainly collapse leaving me with nothing.

But I would never put all of my frns in silver or gold. I need some more investment ideas, from a prepper stand point that is.

What is a face bag?

What is a face bag?

Cases of ...

Scotch and Whiskey and Bourbon are as good as gold.

If you want to go all out prepper ...

Make your own. It's a great hobby and it would be a highly valued skill when the SHTF.

I agree.

I do make my own wine and I make it strong. You would be surprised and many people find wine more palatable. I have thought of distilling it to make brandy but I would have to make considerably more than I make now and I don't think it would be sustainable in a SHTF scenario.

You are right though and I buy the smaller bottles of whiskey, vodka and rum from time to time for that very purpose. Not only is alcohol going to be as good as gold and silver, but people will give me their gold and silver to get it.

:-)

It does make me think that I should stock up on sugar and sealable containers.

Did they charge you over spot?

?

If I disappear from a discussion please forgive me. My 24-7 business requires me to split mid-sentence to serve them. I am not ducking out, I will be back later to catch up.

Yes.

I've only been able to buy at spot a few times.

When the Soviet Union fell, transportation held value.

-

Free includes debt-free!

Interesting.

You know, I think so much in terms of hunkering down on my land and being self sufficient that the need to travel hasn't really come to mind. I mean not past the need for my family to get their asses here as soon as possible.

I hadn't really thought of transportation in terms of a tradeable service. Probably because I am in a rural area.

Thanks