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Faith in Silver . . . Misdirected?
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<p>[QUOTE="sakata, post: 2887646, member: 23778"]Well, first of all, if you want to invoke Kurt do a search on his name on the internet and you will see that he loves to argue with anyone and everyone and never really makes a lot of sense even though he try to pretend he is an expert. I've had him on ignore here for a long time.</p><p><br /></p><p>But that is not the main issue. There is no such thing as investing in precious metals. There is gambling in paper metals in the hope of gaining a short term profit but that is not the same thing at all as there is no silver of gold involved. No one should buy silver or gold expecting to make a profit. That should be done in the stock market or real estate. And as someone pointed out, the stock market is due for a tumble. Real estate is likely to keep on increasing but it is not fungible and certainly cannot be turned around quickly in an emergency.</p><p><br /></p><p>No, silver and gold are only for those who see their wealth in dollars (or whatever other currency) slowly being eroded over the remainder of their lifetime. Buying them with the expectation of ever selling them is the wrong approach. You should be buying them with the hope that you never have to sell them because when that need arises everything else will be collapsing around you. But if that happens then at least you will have them. Ask anyone who ever suffered through one of the many occurrences throughout history of hyperinflation what the significance of that is.[/QUOTE]</p><p><br /></p>
[QUOTE="sakata, post: 2887646, member: 23778"]Well, first of all, if you want to invoke Kurt do a search on his name on the internet and you will see that he loves to argue with anyone and everyone and never really makes a lot of sense even though he try to pretend he is an expert. I've had him on ignore here for a long time. But that is not the main issue. There is no such thing as investing in precious metals. There is gambling in paper metals in the hope of gaining a short term profit but that is not the same thing at all as there is no silver of gold involved. No one should buy silver or gold expecting to make a profit. That should be done in the stock market or real estate. And as someone pointed out, the stock market is due for a tumble. Real estate is likely to keep on increasing but it is not fungible and certainly cannot be turned around quickly in an emergency. No, silver and gold are only for those who see their wealth in dollars (or whatever other currency) slowly being eroded over the remainder of their lifetime. Buying them with the expectation of ever selling them is the wrong approach. You should be buying them with the hope that you never have to sell them because when that need arises everything else will be collapsing around you. But if that happens then at least you will have them. Ask anyone who ever suffered through one of the many occurrences throughout history of hyperinflation what the significance of that is.[/QUOTE]
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