Halfapint wrote:Just wanted to give this a bump.
So my SO needed to borrow money from her stepmom to get her bill paid off 3 months in advance while she went to 5 weeks unpaid. Not only was it 5 weeks unpaid, her new job pays once a month, so she'd be over 2 months with no pay. Move forward, she got paid the other day and wanted to pay her stepmom back.
She called her and asked how she could get her the money, she freak out. Saying no no no, you keep it, use that money to buy SILVER! She was a bit taken aback and was like what? why, this isn't a small chunk of money.... I'd really prefer to pay you back. She was very insistent on not paying her back and to use the money to watch silver prices and to start stockpiling silver because the market is far to unstable now.
The SO text me and told me and I laughed and immediately though of this thread. So I went online and looked at silver prices, While they aren't worth much ($16 =/- $1), but they have been VERY stable for a while from what I can see. While the last 10 years it spiked right along with gold, its been pretty stable. It got me thinking of it in the term of a financial security blanket. I noticed that the price shot down during the collapse. But is at a near historic high for being stable. It's been higher, its been lower, but it's stayed right around the $16 mark for quite a while.
What say you, anything changed in people minds in the 4 years since this thread was active?
Wow! Great time to discuss this!
I was talking with my dad. He feels PMs are always a waste of money. If the economy tanks in such a way that stocks cannot come back then shovels and work gloves will be a much better investment than gold or silver. Otherwise, a little patience will see stocks regaining eventually so don't worry too much about it.
On the other hand, a friend is very invested in PMs and is much more of a prepper than my dad is. Though I think prepping is starting to ping on my dad's radar, which is interesting.
I think PMs have uses. I'm winding up to say more, but basically it will be a repeat of Raptor on post #4.
If I were in Venezuela I"d be wishing I"d invested in PMs or crypto currency. Will that happen to the US? I suspect that is what your SO's mom is reacting to. The president's argument, as I understand it, is America already lost the trade war so it can't get any worse. I also like his honest response to the stock markets, arguing they have gone way up, they can come down a bit and we are all still ahead, so no real loss. It is all just "on paper" wealth. While I completely agree in principal, it is hard to know how it will translate into a reality over the next 2 or 40 years. But basically I think America is in an economic bubble and has been for 40+ years and I"ve been expecting a corrective shake up so we can see our real wealth, adjust to reality, and begin to build real wealth again. But I still think skills, bullets, bandaids, and beans are the things to invest in. I also think owning one's land outright and living off grid is REALLY going to be important in the future. Whether we see a big economic correction or whether we don't.
But if my wife's family said "take this money and invest it in silver" I would not hesitate. If that is what she wants, I think it is a fair request and might even really save your bacon later if things really go sideways. Maybe investing a little in a few crypto currencies would be useful. But crypto currencies are crazy and you will see your "investment" grow and shrink multiple times a day by vast percentages, so it is really only a useful long term idea.
Or so I think. As always, these are just my opinions and worth about as much as you paid for them
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“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” -Bilbo Baggins.