Buying silver bullion for the big payout?

I am not exactly getting what you are trying to say, so I will only deal with the first part. Of course the debate has been going on for a while, but that does not mean there is no correct answer. Yes ol' TJ did not care for paper currency, but man, you just brought the wrong horse to the race. Jefferson was a great man, but you did not want to go to him for finacial advice. He was an absolute horror as a buisness man and did not have a grasp on money.

He ran his plantation in a reckless manor, he never turned a dime of prophet, was a total spend thrift who consistantly bought thing he could not afford, and could never pay back. As Monticello went deeper and deeper into debt, he was forced to sell off his posessions and slaves, but that barely put a dent into his financial obligations with absolutley no chance of paying them off. They banks would have forclosed, and they only reason they didn't was he was well, Thomas Jefferson, the third president and he was beloved by the entire country. He died broke and stuck the bankers with the bill. He just did not understand money, so to be on the other side of a financial opinion than TJ suits me just fine.

If you are ever out to Va. Monticello is must see. The "real" history is fascinating and it is all there. Not a real pretty picture, but that's the way it was in 1820

 

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Jefferson was of the belief that the bankers of that time took advantage of him.

Where I was going was an explanation of your 95% statement. I think you're exaggerating, again. Just so I'm clear about this, when you exaggerate it's ok, but if somebody else does, IE worthless paper, you get offended and go off on a tangent about how they know they're lying. It's a two way street...you should consider posting that way.

 

Without confidence, what is gold worth? Any normal person on the street will know the value of a $20 bill, what do you think they'll think your gold bullion is worth?

 

If you have some and are not confident in it, send it to me as I have plenty of confidence in it. I'll even pay you face value for pre 33 or modern bullion issues of US denominations.

 

I am the first one to admit when I am wrong, I just did to you a couple of posts ago. I stick by my 95% as accurate. Face it, the corners stones of the stacker philosophy just did not pan out and was proved wrong, that just the way it went down and it is way past time to admit it.

 

You are totally flailing here, the post was not even close to saying Gold has no value. It only posed the question "What if people came to believe Gold is just yellow metal. What would its value be THEN?"

A very fair question, considering Gold's Utility value is near zero.

 

Admit what? I didn't throw out exaggerated figures and spout nonsense about how I think stackers are right or wrong and what percentage did bad or good. I just stated what I see and read, not what I believe others did or didn't do.

 

This is what I do not get. Don't people understand they shouldn't be storing their wealth in a medium of exchange that for the last century has INTENDED to inflate? The medium of exchange should be just that, a medium and not a storage unit. That is why I say the $dollar has lost 95 percent of its value" quote is bogus. You are not SUPPOSED to store your wealth in currency. If you stored your wealth in land, bonds or pm you are not out purchasing power. Basically only any idiots who kept their money in paper bills lost purchasing power.

Take your currency as you earn it convert to an asset, and use currency as intended, as a MEDIUM.

 

with china and a number of other countries signing agreements to circumvent the dollar as the world trade unit don't be surprised if you wake up some day to a new world and then we will no longer be able to print our way out of debt.ask England how fast that can happen they were more then surprised when the dollar became the world trade unit and with our debt level we will be in for like 50% devaluation.

 

C'mon Peace, it is like you are not even reading the posts. It is time for the believers of the stacker philosophy to admit, things did not work out as predicted, or more acurately preached by the stacker community. It is very difficult to make good decisions moving forward without admiting mistakes of the past.

I mean is silver trading at $100, let alone $1000?
Are we experiencing hyperinflation?
Did the equities market crash?
Are we measuring wealth in ounces?
Did the US default?

And so on and so on and so on.......

Also, remember, I was not speaking to you, it was you who decided to jump in the fray

 

I think the arguments are getting a little repetitive and more towards the personalrather than the subject/object, so lets let it go on this nice Friday evening. I am sure there will be other similar discussions in the future.

If one really believe this, the best alternatives would be to sell their PM and buy currency of those countries who you feel is most likely to succeed, as you would make 50% or even more leveraged.​

 

You're thinking about the here and now, instead of what could lie ahead or planning for the future. Stocks, bonds, futures and just about everything else will have ups and downs, if you can't live with that, stuff currency in a mattress and see how that works out for you.

One other thing, you keep coming at me like I somehow need to accept defeat. What has defeated me, what competition was I engaged in, and how could I lose if I wasn't aware of this competition?

a)I mean is silver trading at $100, let alone $1000?
b)Are we experiencing hyperinflation?
c)Did the equities market crash?
d)Are we measuring wealth in ounces?
e)Did the US default?

The above is labeled with letters and I'll answer each for you.
a) When did I say either of these would happen? I'd prefer it in link form.
b) No, but what does this have to do with me and my claims?
c) No, and again, I claimed this where?
d) I am, yes, and I'm not using the dollar as the measuring stick. What is your point?
e) That depends on how you look at it, and since forum rules state I can't post politics. Let me just say this, if you were a foreign government that has $100B of treasuries that were accumulated from 2001 to 2010, would you be happy with your return today? I'm not asking about the number of dollars you get, more about the buying power of those dollars with the interest.

 

Ok, a little stronger. There is no contest. There is no need for anyone to think there is a winner or loser when absolutely No One knows what will happen in the future, neither short or long term. There is a need to prevent this from escalating, so stop this chain of thought.

 

Ok, message heard loud and clear. To be fair, I didn't get personal with him, just stated my opinions and have hinted that he needs to stop trying to make other peoples thoughts and opinions mine.

 

And if you read #50 he felt similar, so this is the end. Thanks. Jim

 

Sure ill send you my paper bills, if you trade me for silver.

 

And sorry i didnt know we werent allowed to talk about government :/ and thats honest.

 

We aren't allowed to discuss politics, since if we did it would quickly derail any other discussions. So we can state facts like increases in money supply, since it has happened and may have a bearing on pm pricing, but not the politics.

Its kind of like you shouldn't discuss religion at a dinner party. We have enough issues to argue about here as it is. Thankfully I believe this section has become more civil in the last year or so.

 

I believe so also, and I think it is due to the decrease in hype/price of PM, and the balance of the participants, so thanks to you members.

By the way, here are the rules for those who didn't know
http://www.cointalk.com/link-forums/the-rules.48/

 

You have a right to your opinion, but I wonder what you see that makes you think silver has a potential to skyrocket in price ? Its around $21 an ounce and there is silver everywhere to be purchased within a $2 to $3 premium. I remember when it was around $32-$33, people said if it ever fell back under $25 there would be nothing anywhere available. Oh how wrong they were.

Silver has gotten close to $50 twice and both times resulted in an immediate smackdown. The first time, it fell 90% to $5, this most recent time it fell about 65% to $18.

There were over 40,000,000 ASEs made in 2013 alone with spot around $20. There is no problem with supply but probably 30,000,000 of those are still sitting in dealer/flipper inventory looking for demand that isn't even there at $21.

For me to believe that there is potential to skyrocket in price, I would need to see less than the current hundreds of millions, if not billions of ounces of silver available for sell at $21 an ounce.

JMO but anyone waiting to see $35 silver anytime soon - good luck with that. On 1/1/20 I would be surprised if silver is even $15 an ounce.