depressed i sold off 30x rolls of 40% 2 weeks ago and i could have made another 150 if i waited...
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TheRandyMan said:Silver will hit $75 per ounce by November of 2012 at election time. Gold will be around $3k, give or take a few hundred. Gas will be around $4.50 to $5.00 per gallon, and we will be in the middle of a double dip recession. Too many governments...nations, states, cities, counties...are in huge debt and have spent themselves into oblivion. The "Quantitative Easing" program of money printing by the Federal Reserve has hammered the dollar's value and made the dollar an easy target. At this point, when the dollar loses its status as the world's reserve currency, it might just be a footnote as the huge damage done by massive debt and money printing cannot be undone at this point.
Once inflation gets really gets going, it is just starting now, and interest rates start to rise you will really start to see the precious metals and all other commodities take off...
Looking back at $40 an ounce for silver and $1,450 an ounce gold you will sigh and say...man, wish I had bought that way back when LAST YEAR...
$ilver$urfer said:I am strategically selling off my holdings so I can pay down debt
HH,
$ilver$urfer
TheRandyMan said:Question...why pay down debt when governments are diluting their paper money supplies in an attempt to make it easier for THEM to pay down their debt? Why not just wait as every month that goes by the paper money that you use to pay the loan off is worth less and less and costs you less and less to pay off the debt with? Why not take the extra money that you would have used to pay off debt and BUY gold and silver, watch it move up up UP and make your debt even EASIER to pay off a year or two from now when it has DOUBLED in value while the worthless paper has HALVED in value??
I don't collect silver coins for profit at this point. It's more as an insurance policy against inflation and the increasing loss in value of the fiat currency now in common circulation. Plus, I've been into coin collecting ever since I was a youngster.d2arcing said:depressed i sold off 30x rolls of 40% 2 weeks ago and i could have made another 150 if i waited...
jim4silver said:TheRandyMan said:Question...why pay down debt when governments are diluting their paper money supplies in an attempt to make it easier for THEM to pay down their debt? Why not just wait as every month that goes by the paper money that you use to pay the loan off is worth less and less and costs you less and less to pay off the debt with? Why not take the extra money that you would have used to pay off debt and BUY gold and silver, watch it move up up UP and make your debt even EASIER to pay off a year or two from now when it has DOUBLED in value while the worthless paper has HALVED in value??
In theory you might be correct, but it does not take into account the interest costs each month as you wait for the $$$ value to drop. Plus having excessive debt will affect other options you might otherwise have such as getting business loans, buying a home.
I read somewhere that debt = slavery. I personally would rather be completely debt free (talking about credit card, student debt, etc, not a mortgage).
Jim
jim4silver said:TheRandyMan said:Question...why pay down debt when governments are diluting their paper money supplies in an attempt to make it easier for THEM to pay down their debt? Why not just wait as every month that goes by the paper money that you use to pay the loan off is worth less and less and costs you less and less to pay off the debt with? Why not take the extra money that you would have used to pay off debt and BUY gold and silver, watch it move up up UP and make your debt even EASIER to pay off a year or two from now when it has DOUBLED in value while the worthless paper has HALVED in value??
In theory you might be correct, but it does not take into account the interest costs each month as you wait for the $$$ value to drop. Plus having excessive debt will affect other options you might otherwise have such as getting business loans, buying a home.
I read somewhere that debt = slavery. I personally would rather be completely debt free (talking about credit card, student debt, etc, not a mortgage).
Jim
clovis97 said:$ilver$urfer said:I am strategically selling off my holdings so I can pay down debt
HH,
$ilver$urfer
I think that this is an excellent move. You are a very wise man for doing this.