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  1. #61
    Registered User NorwichGrad's Avatar
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    Originally Posted by jjmcwill View Post
    Silver has indeed been at a bottom for over a year now. You buy at a bottom. High 14'S TO LOW 15'S was the bottom. I heard people say it was going to 13 and below and I tried telling them, no! Get in now. It is going up.

    I honestly hope that people stay fooled a little longer and silver drops. I don't have enough. Only managed to get 156 ounces this time.

    Silver and gold are meant to protect your wealth from a weak dollar or any other financial crisis. Thats why you only make it 5 percent of your portfolio or less.

    I bought in a 10 dollars an ounce and shortly after it went to 50 an ounce. So of course I sold and made a nice profit.

    to break it down I had 200 ounces. With fees my cost average was about $12 an ounce. I sold at around $50 an ounce. That's $10,000 off of an investment of 2,400 in a matter of a couple years. Not to mention I also had gold.

    Don't let people tell you that you cannot make money off of silver and gold. Buy low (find the bottom) sell high. Hold physical silver. I do not play with paper silver. I already have paper money.

    Thanks for your insight. I'm a fairly new stacker. I started stacking a year ago when I opened my eyes.
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  2. #62
    Registered User NorwichGrad's Avatar
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    Originally Posted by dbx View Post
    Best post ITT ^^^^^

    And remember how the DOW was an actual gauge as to the state of the economy? Yeah, that $hit stopped being the case after 9/11. Our stock market(s) no longer reflect the reality that they once did.

    Caveat emptor!

    You’re absolutely right about the stock market, Kev!

    People don’t realize there is a huge difference between the financial market (NYSE) and actual economic market (main street). People think all is good because the DOW is back at 18,000. (Yay! Clap my hands in a girly voice..) But then they forget that we’ve had massive layoffs in many different industries and companies. For example, just take the Walmart store closures of 240-some stores globally affecting 16,000 employees just a few months ago, and more recently Intel laying off 10% of its workforce.. 5% unemployment my ass..

    But..NO.. All is good, bro.. Look at the DOW!


    I tend to think generationally. My precious metals (PMs) are not for me. I want to leave something behind for my kids..

    Also, by buying PMs, particularly the American Silver Eagles, it’s my way of giving my middle fingers to the corrupt criminal bankers. Silver is the Achilles’ Heel of the financial industry.
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  3. #63
    Registered User NorwichGrad's Avatar
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    bump

    bye bye dollar

    BUY BUY SILVER
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  4. #64
    Weak and foolish OldFartTom's Avatar
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    Why do you describe silver as the Achilles heel of the financial industry?
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  5. #65
    Registered User NorwichGrad's Avatar
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    Originally Posted by OldFartTom View Post
    Why do you describe silver as the Achilles heel of the financial industry?
    Because silver, functionally, is more valuable than gold.

    Gold to silver ratio coming out of the ground is typically 1:15. 1 ounce of gold and 15 ounce silver.

    Above ground, it's a different story.

    99% of gold ever mined still exist.

    Over 90% of silver ever mined are GONE. Why? Because they have so many industrial uses - medical, technology, weapons, you name it. One Tomahawk missile has 500 oz of silver.

    In reality, the ratio above ground is 1:1, yet the price ratio is 1: 100. Gold at the moment is above $2000. Silver is approaching $30.

    Both gold and silver are monetary metals. But silver is more than money. In fact, next to oil silver is the second most important commodity.

    So,

    As we hit the greater depression, banks and eastern countries began hoarding gold for this reason.

    But they cannot put their fiat currency in silver, because there is not enough in the world to hold the quadrillion dollar derivatives they created out of thin air. If they did, the system will totally meltdown as opposed to a controlled demolition they're doing now.

    But hey.. I'm just a goat farmer. I'm a conspiracy theorist and I don't know what I'm talking about.
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