reply to post by OBE1
Have you protected yourself ?
Will you be a Have..or..a Have Not ?
Great info, as usual.
I think we all face quite a challenge when it comes to this issue. We're a bit too comfortable perhaps, and we don't live long enough.
Like many people, I mention the lessons of history now and again, I'll trot out the Weimar Republic, etc. Typical responses can say a lot about our
mutual predicament: "But, that was so long ago!" "Things aren't like that now!"
And what about Zimbabwe? "That's Africa! Duh! You don't think anything like that would happen in regular countries, do you?" Is Greece a
"regular" country? "Huh???"
Actually, there are lots of examples when fiat failed, and it's simply not prudent to imagine that these things can't happen to us.
Everyone needs to protect themselves, as you so ably point out. After that, the usual, true "investment" characteristics of precious metals can be
examined further. But first, get the basics under control. I continue to go with the old fashioned "10%" as a minimum, but this is an opinion of
I personally believe that silver is one of the best investments out there. Whether I'm right, or wrong, this doesn't mean I'm going to mortgage /
sell everything I have to buy silver. Why not? Because I don't have a crystal ball, and for all I know, a fabulous opportunity to buy more of this
metal, at "bargain" prices, is still ahead of us. And other considerations too. Plus, I need a house, and cars, etc. Can't just have a pile of
your favorite stuff, that would be silly!
And yet, there are some out there who are maybe in a "good" investment, but it won't help them. That's because they are usually the ones who
don't even understand when you say something like, "I'm long silver until..." I've already lost some at the "long"!
The average person out there may get the right vehicle, and even get in it at the right time. But, they missed the bigger picture, which is that we
don't have all the info! That being the case, even if we are "sure" of something, it's still not "smart" to expose all your assets to one risk
profile, and worse, to expose yourself to timing disadvantages, that could have been avoided by old-fashioned dollar-cost-averaging. And simple
diversification eliminates the "one-basket" risk. Well, maybe not so "simple", but hopefully some reading will be helped by this.
Obviously, I'm preaching to the choir in some respects, a few on this thread are very knowledgeable, and I learn something all the time by reading
some good posts.
But, I do wonder about some who are attracted to threads like this, because they might be vulnerable to reaching the wrong conclusions.
I think the best advice anyone can get is along the lines of "do your homework"
. Lots of things sound wonderful, at first. But then, more
is revealed. Could be more good, but also some bad. Either way, it's good to reach a "critical mass" before taking any significant action.
Thanks again for such great info.